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615 E Portland Street #126 Phoenix, AZ 85004

2 Beds 2 Baths 1,238 sqft Built 2004

$329,000

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $265.75
  • 2 Days on Market
  • MLS # : 6187899
  • Updated Date : 01/30/2021 at 19:19
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,238 sqft
  • Baths : 2 full
Listing Agent

Russ Lyon Sotheby's International Realty

Listing Agent's Description

Be a part of Phoenix's Vibrant Urban Lifestyle! You'll love this spacious, 2-Story Condo in the Heart of Downtown Phoenix! Immaculate and Bright End Unit, with a Large Great Room, Balcony and Sleek, Contemporary European Styled Kitchen Designed for Entertaining with Stainless Steel Appliances! 2 Master Bedrooms, In-Unit Washer/Dryer, and 2 Car Tandem Garage with Plenty of Room for Storage. Friendly Community Features a Heated 25 yard Lap Pool, Private Dog Park, Beautifully Landscaped Gathering Greenbelt with BBQ's and a Lush Courtyard. Close to the Arts District, Roosevelt Row, ASU Downtown Campus, Burton Barr Central Library, Coffee Shops, Restaurants, Bars, Shopping and the Light Rail. Book Your Private Showing Today!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Evans-Churchill

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $91k310k

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

Neighborhood: Evans-Churchill

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600Rent in $9341690

* 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
Central High School High Regular 2,251 136 3
Phoenix Coding Academy High Regular NA
Phoenix Coding Academy High Unknown NA

Central High School

  • Education Level: High
  • # of students: 2,251
  • # of teachers: 136
3
GreatSchools Rating

Phoenix Coding Academy

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Phoenix Coding Academy

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$296,100$361,900$329,000

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,143
Property Tax -$176
Property Insurance -$51
HOA -$277
Property Management Fees -$99
CASH FLOW
-$26

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.

$329,000

PROJECTED PRICE

$1,720

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 5.4%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$92,935

INVESTMENT

$92,935

Down Payment
$82,250
Rehab Estimate
$5,750
Closing Costs
$4,935

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,143

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $82,250
Loan Amount $246,750
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$15,094

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
  • $1,718

    COMP ESTIMATED VALUE
  • $1.39

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,6953$1,6954$1,7505$1,795
$1,795
RENT COMPS ANALYSIS
  • 615 E Portland Street #126 Phoenix, AZ 1
    • 2 beds 2 baths ∙ 1,238 Sqft ∙ Built 2004 2 beds 2 baths ∙ 1,238 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 615 E Portland Street #179 Phoenix, AZ 2
    • 2 beds 2 baths ∙ 1,238 Sqft ∙ Built 2004 2 beds 2 baths ∙ 1,238 Sqft ∙ Built 2004
    LEASED 07/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.37
    •  
  • 615 E Portland Street #183 Phoenix, AZ 3
    • 2 beds 2 baths ∙ 1,238 Sqft ∙ Built 2004 2 beds 2 baths ∙ 1,238 Sqft ∙ Built 2004
    LEASED 12/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.37
    •  
  • 610 E Roosevelt Street #237 Phoenix, AZ 4
    • 2 beds 2 baths ∙ 1,288 Sqft ∙ Built 2004 2 beds 2 baths ∙ 1,288 Sqft ∙ Built 2004
    LEASED 01/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.36
    •  
  • 615 E Portland Street #103 Phoenix, AZ 5
    • 2 beds 2 baths ∙ 1,238 Sqft ∙ Built 2004 2 beds 2 baths ∙ 1,238 Sqft ∙ Built 2004
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.45
    •  
PROPERTY LISTING DETAILS
Jeane Adinolfi
Russ Lyon Sotheby's International Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6187899
Last Updated: 01/30/2021
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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