Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

600 E Palm Street Litchfield Park, AZ 85340

3 Beds 2 Baths 2,400 sqft Built 1969

$449,000

List Price

$2,050

$1.8K - $2.3K

Rent Est.

PROPERTY INFO

January 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1969
  • Price/Sqft : $187.08
  • 7 Days on Market
  • MLS # : 6175893
  • Updated Date : 01/09/2021 at 03:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,400 sqft
  • Baths : 2 full
Listing Agent

Hague Partners

Listing Agent's Description

72 HOUR HOME SALE! INQUIRE IMMEDIATELY TO BID! Don't let the age fool you-this home has not only been meticulously maintained it's also in perfect condition. A rare find. In OLD LITCHFIELD PARK! Pull up to one of the largest corner lots in the whole subdivision and be greeted with shade and grass that features plenty of parking on the front and side. Walk into and visualize your family and memories yet to be created in the large sunken great room/formal living room. Large family room connected to the kitchen featuring an eat-in bar connected. From this space go directly out to a fully enclosed patio/Arizona Room. Maintenance and care for a second home forces sale. This home is priced fairly and below comps.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Litchfield Park

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $122k371k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Litchfield Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10451981

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Litchfield Elementary School Primary Regular 820 37 8
Litchfield Elementary School Middle Regular 820 37 8
Millennium High School High Regular 2,205 94 4

Litchfield Elementary School

  • Education Level: Primary
  • # of students: 820
  • # of teachers: 37
8
GreatSchools Rating

Litchfield Elementary School

  • Education Level: Middle
  • # of students: 820
  • # of teachers: 37
8
GreatSchools Rating

Millennium High School

  • Education Level: High
  • # of students: 2,205
  • # of teachers: 94
4
GreatSchools Rating
 

$404,100$493,900$449,000

PURCHASE PRICE

$1,845$2,255$2,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,050
EXPENSES Loan Payment -$1,560
Property Tax -$260
Property Insurance -$74
Property Management Fees -$99
CASH FLOW
$58

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$449,000

PROJECTED PRICE

$2,050

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 7.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$124,735

INVESTMENT

$124,735

Down Payment
$112,250
Rehab Estimate
$5,750
Closing Costs
$6,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,560

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,250
Loan Amount $336,750
See What Happens When You Reinvest Cash Flow

6.08

YEARS SAVED

$30,919

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $2,208

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,1003$2,2004$2,2005$2,248
$2,248
RENT COMPS ANALYSIS
  • 600 E Palm Street Litchfield Park, AZ 1
    • 3 beds 2 baths ∙ 2,400 Sqft ∙ Built 1969 3 beds 2 baths ∙ 2,400 Sqft ∙ Built 1969
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 201 W Alegre Drive Litchfield Park, AZ 2
    • 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 1966 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 1966
    property image
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.88
    •  
  • 12857 W Pasadena Avenue Litchfield Park, AZ 3
    • 3 beds 3 baths ∙ 2,480 Sqft ∙ Built 1974 3 beds 3 baths ∙ 2,480 Sqft ∙ Built 1974
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.89
    •  
  • 719 E Fairway Drive Litchfield Park, AZ 4
    • 3 beds 2 baths ∙ 2,278 Sqft ∙ Built 1987 3 beds 2 baths ∙ 2,278 Sqft ∙ Built 1987
    property image
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.97
    •  
  • 510 N Redondo Drive Litchfield Park, AZ 5
    • 3 beds 2 baths ∙ 2,384 Sqft ∙ Built 1964 3 beds 2 baths ∙ 2,384 Sqft ∙ Built 1964
    property image
    LEASED 12/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,248
    • $0.94
    •  
PROPERTY LISTING DETAILS
John L. Hrimnak
Hague Partners
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6175893
Last Updated: 01/09/2021
support@investimateroi.com

Indicates a property listed by a real estate brokerage other than HomeUnion/Investimate by Mynd. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

BESbswy