Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

6405 N 28th Street Phoenix, AZ 85016

2 Beds 2 Baths 2,795 sqft Built 1996

$1,050,000

List Price

$5,220

$5K - $5.5K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $375.67
  • 3 Days on Market
  • MLS # : 6181364
  • Updated Date : 01/16/2021 at 16:21
CONSTRUCTION
  • Beds : 2
  • Floor Size : 2,795 sqft
  • Baths : 2 full
Listing Agent

Desert West Realty Llc

Listing Agent's Description

PRIME LOCATION! Biltmore Hillside Villas SINGLE STORY 2Bd/2Ba ''Expanded Rainier'' floor plan of Golden Heritage Homes. Original owners have included abundant amounts of 3/4'' WOOD flooring, Entertainer's Kitchen with Double Ovens, 2-Way Fireplace, 2' extention at Den, Bd2, Laundry and 3-car garage, upgraded windows and insulation, are just some of the features in this home! HUGE Master Bath with Walk-IN Closet and storage galore! Take a look... too many options to list. Secluded location in a deep cul-de-sac that affords more privacy. HUGE picture WINDOWS with outstanding views. Enjoy the Biltmore lifestyle with tennis, hiking, biking... Convenient to SR51, shopping, dining, downtown entertainment,Sky Harbor Airport. 24-hour guard gated and a MUST SEE!!! Seller is related to Listing Agent

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Biltmore Hillside Villas

NeighborhoodNIR Market*CityMarket2010Year20002019100k200k300k400k500k600k700k800k900kPrice in $91k968k

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

Neighborhood: Biltmore Hillside Villas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600280030003200340036003800Rent in $9343951

* 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
 

$945,000$1,155,000$1,050,000

PURCHASE PRICE

$4,698$5,742$5,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $5,220
EXPENSES Loan Payment -$3,647
Property Tax -$798
Property Insurance -$82
HOA -$149
Property Management Fees -$99
CASH FLOW
$445

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$1,050,000

PROJECTED PRICE

$5,220

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.36%
Appreciation Year (1-5) 2.2%
Maintenance Year (1-5) 8.00%
Vacancy 7.72%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$10k$20k$30k$40k$50k$60k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$284,000

INVESTMENT

$284,000

Down Payment
$262,500
Rehab Estimate
$5,750
Closing Costs
$15,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$3,647

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $262,500
Loan Amount $787,500
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$95,275

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $5,220

    LIST RENT
  • $1.87

    LIST RENT PER SQFT
  • $6,149

    COMP ESTIMATED VALUE
  • $2.2

    COMP AVG. RENT PER SQFT
Comps Range
$5,220
1$5,2202$5,400
$5,400
RENT COMPS ANALYSIS
  • 6405 N 28th Street Phoenix, AZ 1
    • 2 beds 2 baths ∙ 2,795 Sqft ∙ Built 1996 2 beds 2 baths ∙ 2,795 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $5,220
    • $1.87
    •  
  • 4808 N 24th Street #1525 Phoenix, AZ 2
    • 2 beds 3 baths ∙ 2,456 Sqft ∙ Built 2006 2 beds 3 baths ∙ 2,456 Sqft ∙ Built 2006
    LEASED 08/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $5,400
    • $2.20
    •  
PROPERTY LISTING DETAILS
Joyce Reiff
Desert West Realty Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6181364
Last Updated: 01/16/2021
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.

BESbswy