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6309 N 34th Avenue Phoenix, AZ 85017

3 Beds 2 Baths 1,664 sqft Built 1961

$285,000

List Price

$1,270

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

November 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $171.27
  • 5 Days on Market
  • MLS # : 6158406
  • Updated Date : 11/18/2020 at 16:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,664 sqft
  • Baths : 2 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

Welcome home to this charming 3 bedroom, 2 bathroom home in an incredible location with no HOA! Step inside to the wonderful open floorplan! Your family room features a beautiful wood-burning brick fireplace! Your large kitchen has tons of countertop and storage space and overlooks the family room! This home features amazing storage both inside and outside, including beautiful built-ins in the dining room! Throughout the home there is stunning tile flooring and spacious bedrooms with ample closet space! Fantastic upgrades include new energy efficient windows and a sliding glass door (2018), enclosed laundry room and a two year old HVAC. Step outside to your fantastic backyard that features a fenced in pebble tec pool with a diving board, a water feature and new motor. There is also a newer

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Continental Meadows Mark

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: Continental Meadows Mark

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7431567

* 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
 

$256,500$313,500$285,000

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,270
EXPENSES Loan Payment -$1,052
Property Tax -$170
Property Insurance -$60
Property Management Fees -$99
CASH FLOW
-$110

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.

$285,000

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) 14.0%
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$1.2M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,052

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$11,341

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,270

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,385

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,270
1$1,2702$1,3953$1,3954$1,4355$1,450
$1,450
RENT COMPS ANALYSIS
  • 6309 N 34th Avenue Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,664 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,664 Sqft ∙ Built 1961
    • Rent
    • Rent Per SQFT
    •  
    • $1,270
    • $0.76
    •  
  • 3123 W Marshall Avenue Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,774 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,774 Sqft ∙ Built 1954
    LEASED 06/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.79
    •  
  • 6814 N 30th Avenue Phoenix, AZ 3
    • 4 beds 2 baths ∙ 1,690 Sqft ∙ Built 1969 4 beds 2 baths ∙ 1,690 Sqft ∙ Built 1969
    LEASED 09/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.83
    •  
  • 2929 W Rancho Drive Phoenix, AZ 4
    • 4 beds 2 baths ∙ 1,669 Sqft ∙ Built 1952 4 beds 2 baths ∙ 1,669 Sqft ∙ Built 1952
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,435
    • $0.86
    •  
  • 3043 W Tuckey Lane Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,698 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,698 Sqft ∙ Built 1961
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.85
    •  
PROPERTY LISTING DETAILS
George Laughton
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6158406
Last Updated: 11/18/2020
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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