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6238 S 8th Place Phoenix, AZ 85042

3 Beds 2 Baths 1,399 sqft Built 1955

$297,500

List Price

$1,310

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $212.65
  • 14 Days on Market
  • MLS # : 6243789
  • Updated Date : 07/12/2021 at 15:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,399 sqft
  • Baths : 2 full
Listing Agent

Venture Rei, Llc

Listing Agent's Description

Remodeled Brick Home!! Professional photos coming soon!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Estrella Rancho

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $73k271k

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

Neighborhood: Estrella Rancho

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6501567

* 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
John F. Kennedy Elementary School Primary Regular 530 39 2
South Mountain High School High Regular 1,706 102 2
Phoenix Coding Academy High Unknown NA

John F. Kennedy Elementary School

  • Education Level: Primary
  • # of students: 530
  • # of teachers: 39
2
GreatSchools Rating

South Mountain High School

  • Education Level: High
  • # of students: 1,706
  • # of teachers: 102
2
GreatSchools Rating

Phoenix Coding Academy

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

$267,750$327,250$297,500

PURCHASE PRICE

$1,179$1,441$1,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,310
EXPENSES Loan Payment -$1,033
Property Tax -$193
Property Insurance -$54
Property Management Fees -$99
CASH FLOW
-$70

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.

$297,500

PROJECTED PRICE

$1,310

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 9.1%
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

PROJECTED ANNUAL CASH FLOW

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

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$84,588

INVESTMENT

$84,588

Down Payment
$74,375
Rehab Estimate
$5,750
Closing Costs
$4,463

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,375
Loan Amount $223,125
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$12,135

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,310

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,472

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,3103$1,3454$1,3505$1,495
$1,495
RENT COMPS ANALYSIS
  • 6238 S 8th Place Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,399 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,399 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $1,310
    • $0.94
    •  
  • 210 E Jones Avenue #12bh Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,100 Sqft ∙ Built 1946 3 beds 2 baths ∙ 1,100 Sqft ∙ Built 1946
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.09
    •  
  • 1861 E Mobile Lane Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,306 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,306 Sqft ∙ Built 1956
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,345
    • $1.03
    •  
  • 1332 E La Salle Street Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,150 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,150 Sqft ∙ Built 1959
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.17
    •  
  • 6219 S 7th Avenue Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,622 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,622 Sqft ∙ Built 1948
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.92
    •  
PROPERTY LISTING DETAILS
Marcus Mcbeth
Venture Rei, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6243789
Last Updated: 07/12/2021
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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