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609 W Grandview Road Phoenix, AZ 85023

3 Beds 2 Baths 1,726 sqft Built 1989

$359,900

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $208.52
  • 3 Days on Market
  • MLS # : 6162712
  • Updated Date : 11/20/2020 at 10:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,726 sqft
  • Baths : 2 full
Listing Agent

Marketplace One Realty

Listing Agent's Description

Updated North Phoenix Oasis Home! This home has been thoughtfully updated throughout including a remodeled kitchen with new appliances, and new interior paint. Airy entryway opens up to the family room with lofty ceilings that fills with natural light. The family room flows to the formal dining room with easy access to the kitchen. The beautifully redone kitchen including new backsplash, refinished cabinets, and paint, overlooks the oasis-like backyard. Guests can enjoy the half-bath downstairs, while the 3 spacious bedrooms and 2 additional bathrooms are upstairs. The master suite also overlooks the beautiful backyard and seamlessly connects to the en-suite bathroom including separate shower and tub, walk in closet, and dual sinks. Double doors open up to the large covered patio which...

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PRICE & RENT TRENDS

Neighborhood: Turtle Creek

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k358k

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

Neighborhood: Turtle Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8821981

* 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
Lookout Mountain Elementary School Primary Regular 1,022 50 9
Lookout Mountain Elementary School Middle Regular 1,022 50 9
Thunderbird High School High Regular 1,507 63 6

Lookout Mountain Elementary School

  • Education Level: Primary
  • # of students: 1,022
  • # of teachers: 50
9
GreatSchools Rating

Lookout Mountain Elementary School

  • Education Level: Middle
  • # of students: 1,022
  • # of teachers: 50
9
GreatSchools Rating

Thunderbird High School

  • Education Level: High
  • # of students: 1,507
  • # of teachers: 63
6
GreatSchools Rating
 

$323,910$395,890$359,900

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$1,328
Property Tax -$215
Property Insurance -$61
HOA -$19
Property Management Fees -$99
CASH FLOW
-$32

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.

$359,900

PROJECTED PRICE

$1,690

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.9%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,124

INVESTMENT

$101,124

Down Payment
$89,975
Rehab Estimate
$5,750
Closing Costs
$5,399

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,328

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $89,975
Loan Amount $269,925
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$22,099

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
  • $1,691

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,5003$1,5254$1,6955$1,750
$1,750
RENT COMPS ANALYSIS
  • 609 W Grandview Road Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,726 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,726 Sqft ∙ Built 1989
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 526 W Kelton Lane Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,615 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,615 Sqft ∙ Built 1994
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.93
    •  
  • 415 W Aire Libre Avenue Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,615 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,615 Sqft ∙ Built 1995
    property image
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.94
    •  
  • 16036 N 11th Avenue #1075 Phoenix, AZ 4
    • 3 beds 3 baths ∙ 1,678 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,678 Sqft ∙ Built 2003
    property image
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.01
    •  
  • 16036 N 11th Avenue #1039 Phoenix, AZ 5
    • 3 beds 3 baths ∙ 1,678 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,678 Sqft ∙ Built 2003
    property image
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.04
    •  
PROPERTY LISTING DETAILS
Nicholas Carlisle
Marketplace One Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6162712
Last Updated: 11/20/2020
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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