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603 W Villa Rita Drive Phoenix, AZ 85023

3 Beds 2 Baths 1,900 sqft Built 1997

$390,000

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $205.26
  • 4 Days on Market
  • MLS # : 6179590
  • Updated Date : 01/15/2021 at 02:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,900 sqft
  • Baths : 2 full
Listing Agent

Re/max Professionals

Listing Agent's Description

Beautiful remodeled ready to move into property ! Large 3 bedroom, 2 Bath home with a very open great room floor plan ! Remodeled kitchen with large island, granite counter tops and backsplash with stainless steel appliances and upgraded white cabinets and a pantry ! Travertine floors throughout with wood laminate in the bedrooms. Several TV mounts and ceiling fans ! Plantation shutters in the master bedroom, separate tub & shower and double sinks and walk in closet in master bath ! Granite counters in the baths also ! Coated floor in garage with cabinets, opener, work bench & a water softener ! Sun screens on the dual pane windows, beautiful landscaped back yard with a walking or kids play sidewalk going around the back yard. Covered and open patios, sprinkler system & a lemon tree!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Arroyo Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $91k306k

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

Neighborhood: Arroyo Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2950100010501100115012001250130013501400145015001550Rent in $9341567

* 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
Cactus View Elementary School Primary Regular 712 41 4
Cactus View Elementary School Middle Regular 712 41 4
North Canyon High School High Regular 1,957 86 4

Cactus View Elementary School

  • Education Level: Primary
  • # of students: 712
  • # of teachers: 41
4
GreatSchools Rating

Cactus View Elementary School

  • Education Level: Middle
  • # of students: 712
  • # of teachers: 41
4
GreatSchools Rating

North Canyon High School

  • Education Level: High
  • # of students: 1,957
  • # of teachers: 86
4
GreatSchools Rating
 

$351,000$429,000$390,000

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$1,355
Property Tax -$246
Property Insurance -$64
HOA -$3
Property Management Fees -$99
CASH FLOW
$4

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$390,000

PROJECTED PRICE

$1,770

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$109,100

INVESTMENT

$109,100

Down Payment
$97,500
Rehab Estimate
$5,750
Closing Costs
$5,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,355

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $97,500
Loan Amount $292,500
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$24,104

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,781

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,549
1$1,5492$1,6503$1,7704$1,8005$1,850
$1,850
RENT COMPS ANALYSIS
  • 603 W Villa Rita Drive Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.93
    •  
  • 1012 W Libby Street Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,759 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,759 Sqft ∙ Built 1979
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,549
    • $0.88
    •  
  • 18806 N 6th Drive Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,843 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,843 Sqft ∙ Built 1984
    LEASED 12/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.90
    •  
  • 18807 N 1st Avenue Phoenix, AZ 4
    • 4 beds 2 baths ∙ 1,814 Sqft ∙ Built 1995 4 beds 2 baths ∙ 1,814 Sqft ∙ Built 1995
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.99
    •  
  • 1121 W Michigan Avenue Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,897 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,897 Sqft ∙ Built 2006
    LEASED 06/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.98
    •  
PROPERTY LISTING DETAILS
Mounty West
Re/max Professionals
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6179590
Last Updated: 01/15/2021
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.

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