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6309 N 29th Avenue Phoenix, AZ 85017

3 Beds 3 Baths 1,470 sqft Built 2004

INVESTimate

$279,900

List Price

$1,270

$1,143 - $1,397

Rent Est.

$307,274  ( +9.78%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $190.41
  • 3 Days on Market
  • MLS # : 6121765
  • Updated Date : 08/24/2020 at 19:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,470 sqft
  • Baths : 2 full , 1 half
Listing Agent

West Usa Realty

Listing Agent's Description

Must see!! You will love this beautiful home 3 bedrooms 2.5 bathrooms with a lot of upgrades . Travertine flooring in all right places. Beautiful wood flooring in the bedrooms. Stainless steel appliances double oven and beautiful cabinets .Huge backyard with RV gate and NO HOA!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Alhambra

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: Alhambra

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7781567

* 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
Ocotillo Elementary School Primary Regular 789 36 2
Palo Verde Middle School Middle Regular 925 46 3
Washington High School High Regular 1,714 73 4

Ocotillo Elementary School

  • Education Level: Primary
  • # of students: 789
  • # of teachers: 36
2
GreatSchools Rating

Palo Verde Middle School

  • Education Level: Middle
  • # of students: 925
  • # of teachers: 46
3
GreatSchools Rating

Washington High School

  • Education Level: High
  • # of students: 1,714
  • # of teachers: 73
4
GreatSchools Rating
 

$251,910$307,890$279,900

PURCHASE PRICE

$1,143$1,397$1,270

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,270
EXPENSES Loan Payment -$1,033
Property Tax -$167
Property Insurance -$56
Property Management Fees -$99
CASH FLOW
-$84

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.

$279,900

PROJECTED PRICE

$1,270

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 9.78%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,924

INVESTMENT

$79,924

Down Payment
$69,975
Rehab Estimate
$5,750
Closing Costs
$4,199

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
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,975
Loan Amount $209,925
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$13,016

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
  • $1,250

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,3503$1,425
$1,425
RENT COMPS ANALYSIS
  • 6309 N 29th Avenue Phoenix, 1
    • 3 beds 3 baths ∙ 1,470 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,470 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 7734 N 30th Drive Phoenix, 2
    • 3 beds 2 baths ∙ 1,639 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,639 Sqft ∙ Built 1987
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.82
    •  
  • 7760 N 19th Lane Phoenix, 3
    • 3 beds 3 baths ∙ 1,626 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,626 Sqft ∙ Built 1985
    LEASED 04/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.88
    •  
PROPERTY LISTING DETAILS
Amila Ahmetovic
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6121765
Last Updated: 08/24/2020
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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