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6128 N 16th Place Phoenix, AZ 85016

3 Beds 2 Baths 2,077 sqft Built 1961

$699,000

List Price

$2,550

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $336.54
  • 5 Days on Market
  • MLS # : 6177404
  • Updated Date : 01/06/2021 at 14:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,077 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Phoenix

Listing Agent's Description

PROBATE SALE!Great Family Home 3 bedrooms, 2 bathrooms. Partially remodeled.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Silva Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400kPrice in $91k419k

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

Neighborhood: Silva Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9342509

* 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
Madison Heights Elementary School Primary Regular 538 30 8
Madison 1 Middle School Middle Regular 923 50 7
North High School High Regular 2,616 128 5

Madison Heights Elementary School

  • Education Level: Primary
  • # of students: 538
  • # of teachers: 30
8
GreatSchools Rating

Madison 1 Middle School

  • Education Level: Middle
  • # of students: 923
  • # of teachers: 50
7
GreatSchools Rating

North High School

  • Education Level: High
  • # of students: 2,616
  • # of teachers: 128
5
GreatSchools Rating
 

$629,100$768,900$699,000

PURCHASE PRICE

$2,295$2,805$2,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,550
EXPENSES Loan Payment -$2,428
Property Tax -$502
Property Insurance -$68
Property Management Fees -$99
CASH FLOW
-$547

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.

$699,000

PROJECTED PRICE

$2,550

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.7%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$190,985

INVESTMENT

$190,985

Down Payment
$174,750
Rehab Estimate
$5,750
Closing Costs
$10,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,428

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $174,750
Loan Amount $524,250
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$5,890

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,550

    LIST RENT
  • $1.23

    LIST RENT PER SQFT
  • $2,768

    COMP ESTIMATED VALUE
  • $1.33

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,4003$2,5504$2,7005$3,400
$3,400
RENT COMPS ANALYSIS
  • 6128 N 16th Place Phoenix, AZ 3
    • 3 beds 2 baths ∙ 2,077 Sqft ∙ Built 1961 3 beds 2 baths ∙ 2,077 Sqft ∙ Built 1961
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.23
    •  
  • 1619 E Maryland Avenue Phoenix, AZ 1
    • 3 beds 3 baths ∙ 1,793 Sqft ∙ Built 1964 3 beds 3 baths ∙ 1,793 Sqft ∙ Built 1964
    property image
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.23
    •  
  • 1236 E Mclellan Boulevard Phoenix, AZ 2
    • 3 beds 2 baths ∙ 2,082 Sqft ∙ Built 1953 3 beds 2 baths ∙ 2,082 Sqft ∙ Built 1953
    property image
    LEASED 01/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.15
    •  
  • 6329 N 13th Street Phoenix, AZ 4
    • 4 beds 2 baths ∙ 1,969 Sqft ∙ Built 1958 4 beds 2 baths ∙ 1,969 Sqft ∙ Built 1958
    property image
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.37
    •  
  • 6108 N 13th Place Phoenix, AZ 5
    • 3 beds 2 baths ∙ 2,156 Sqft ∙ Built 1960 3 beds 2 baths ∙ 2,156 Sqft ∙ Built 1960
    property image
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.58
    •  
PROPERTY LISTING DETAILS
Marsella Peres
Keller Williams Realty Phoenix
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6177404
Last Updated: 01/06/2021
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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