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6288 N 31st Street Phoenix, AZ 85016

4 Beds 4 Baths 2,929 sqft Built 1988

$1,260,000

List Price

$4,500

$4.3K - $4.8K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $430.18
  • 2 Days on Market
  • MLS # : 6178414
  • Updated Date : 01/09/2021 at 17:24
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,929 sqft
  • Baths : 3 full , 1 half
Listing Agent

Russ Lyon Sotheby's International Realty

Listing Agent's Description

Welcome to The Oasis at the guard-gated Biltmore Greens. The luxury resort style backyard boasts incredible views of Piestewa Peak and the perfectly manicured Arizona Biltmore Golf Course. The home is open and spacious and there is an abundance of natural light. The kitchen opens to the family room and it is well equipped with granite counters, an island w/ bar seating, stainless steel appliances, and a charming breakfast room with an intimate outdoor patio - perfect for enjoying your morning coffee.Enjoy the sparkling pool and spa, entertain guests under the gazebo / numerous intimate outdoor gathering areas, or watch the sun set behind the mountains around the 2 outdoor fireplaces. The home is also equipped with automated sun shades and roller shades.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Biltmore Greens III

NeighborhoodNIR Market*CityMarket2010Year20002019100k200k300k400k500k600k700k800kPrice in $91k848k

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

Neighborhood: Biltmore Greens III

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400260028003000320034003600Rent in $9343720

* 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
Camelback High School High Regular 2,048 110 4

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

Camelback High School

  • Education Level: High
  • # of students: 2,048
  • # of teachers: 110
4
GreatSchools Rating
 

$1,134,000$1,386,000$1,260,000

PURCHASE PRICE

$4,050$4,950$4,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,500
EXPENSES Loan Payment -$4,376
Property Tax -$906
Property Insurance -$84
HOA -$493
Property Management Fees -$99
CASH FLOW
-$1,458

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.

$1,260,000

PROJECTED PRICE

$4,500

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.5%
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$2.5M$3.0M$3.5M

PROJECTED ANNUAL CASH FLOW

11530-$30k-$20k-$10k$0.0$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$339,650

INVESTMENT

$339,650

Down Payment
$315,000
Rehab Estimate
$5,750
Closing Costs
$18,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$4,376

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $315,000
Loan Amount $945,000
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$600

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,500

    LIST RENT
  • $1.54

    LIST RENT PER SQFT
  • $3,786

    COMP ESTIMATED VALUE
  • $1.29

    COMP AVG. RENT PER SQFT
Comps Range
$3,500
1$3,5002$3,5003$3,8004$4,2005$4,500
$4,500
RENT COMPS ANALYSIS
  • 6288 N 31st Street Phoenix, AZ 5
    • 4 beds 4 baths ∙ 2,929 Sqft ∙ Built 1988 4 beds 4 baths ∙ 2,929 Sqft ∙ Built 1988
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $1.54
    •  
  • 2626 E Arizona Biltmore Circle #2 Phoenix, AZ 1
    • 4 beds 3 baths ∙ 2,913 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,913 Sqft ∙ Built 1980
    property image
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.20
    •  
  • 2626 E Arizona Biltmore Circle #8 Phoenix, AZ 2
    • 3 beds 3 baths ∙ 2,788 Sqft ∙ Built 1980 3 beds 3 baths ∙ 2,788 Sqft ∙ Built 1980
    property image
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.26
    •  
  • 5527 N 25th Street Phoenix, AZ 3
    • 3 beds 3 baths ∙ 2,934 Sqft ∙ Built 1979 3 beds 3 baths ∙ 2,934 Sqft ∙ Built 1979
    property image
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.30
    •  
  • 6510 N 27th Street Phoenix, AZ 4
    • 4 beds 3 baths ∙ 2,973 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,973 Sqft ∙ Built 1997
    property image
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $1.41
    •  
PROPERTY LISTING DETAILS
Bekkah Herman
Russ Lyon Sotheby's International Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6178414
Last Updated: 01/09/2021
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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