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6111 W Fairmount Avenue Phoenix, AZ 85033

4 Beds 3 Baths 1,844 sqft Built 1958

$340,000

List Price

$1,360

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1958
  • Price/Sqft : $184.38
  • 2 Days on Market
  • MLS # : 6203014
  • Updated Date : 03/07/2021 at 05:19
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,844 sqft
  • Baths : 2 full , 1 half
Listing Agent

Af Realty

Listing Agent's Description

. 4 BEDROOMS, 2.5 BATHROOMS, 1 CAR GARAGE, NO HOME OWNER'S ASSOCIATION, COVERED PATIO ON THE BACKYARD, RV GATE, RV PARKING. COME AND SEE IT, YOU WILL NOT BE DISAPPOINTING. CLOSE TO MANY AMENITIES, WESTGATE, DESERT DIAMOND CASINO, UNIVERSITY OF PHOENIX CAMPUS & STADIUM, SCHOOLS, SHOPPING, HOSPITALS, MEDICAL CLINICS, GRAND CANYON UNIVERSITY, ASU WEST CAMPUS, THUNDERBIRD GLOBAL SCHOOL OF MANAGEMENT, GOLF COURSE, 60, I-10, I-17, 101 FREEWAYS.,

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Maryvale

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $74k271k

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

Neighborhood: Maryvale

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6831567

* 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
Sunset Elementary School Primary Regular 701 34 8
Desert Sands Middle School Middle Regular 1,103 48 2
Maryvale High School High Regular 2,948 132 2

Sunset Elementary School

  • Education Level: Primary
  • # of students: 701
  • # of teachers: 34
8
GreatSchools Rating

Desert Sands Middle School

  • Education Level: Middle
  • # of students: 1,103
  • # of teachers: 48
2
GreatSchools Rating

Maryvale High School

  • Education Level: High
  • # of students: 2,948
  • # of teachers: 132
2
GreatSchools Rating
 

$306,000$374,000$340,000

PURCHASE PRICE

$1,224$1,496$1,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,360
EXPENSES Loan Payment -$1,181
Property Tax -$205
Property Insurance -$63
Property Management Fees -$99
CASH FLOW
-$188

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.

$340,000

PROJECTED PRICE

$1,360

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 13.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$7,212

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
  • $1,471

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,3503$1,3954$1,3995$1,520
$1,520
RENT COMPS ANALYSIS
  • 6111 W Fairmount Avenue Phoenix, AZ 1
    • 4 beds 3 baths ∙ 1,844 Sqft ∙ Built 1958 4 beds 3 baths ∙ 1,844 Sqft ∙ Built 1958
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3330 N 64th Drive Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,768 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,768 Sqft ∙ Built 1968
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.76
    •  
  • 6136 W Clarendon Avenue Phoenix, AZ 3
    • 4 beds 2 baths ∙ 1,706 Sqft ∙ Built 1958 4 beds 2 baths ∙ 1,706 Sqft ∙ Built 1958
    LEASED 02/03/22
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.82
    •  
  • 6205 W Clarendon Avenue Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,656 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,656 Sqft ∙ Built 1958
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $0.84
    •  
  • 6521 W Turney Avenue Phoenix, AZ 5
    • 4 beds 2 baths ∙ 1,976 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,976 Sqft ∙ Built 1960
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.77
    •  
PROPERTY LISTING DETAILS
Adrian Luna
Af Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6203014
Last Updated: 03/07/2021
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. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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