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6502 N 24th Avenue Phoenix, AZ 85015

3 Beds 2 Baths 1,512 sqft Built 1980

$255,000

List Price

$1,280

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $168.65
  • 2 Days on Market
  • MLS # : 6160490
  • Updated Date : 11/14/2020 at 12:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,512 sqft
  • Baths : 2 full
Listing Agent

Mojica & Associates Real Estate

Listing Agent's Description

Beautifully Remodeled Home on a corner lot w/shade trees & plenty of parking. Handsome tiled floors throughout, welcoming fresh palette, vaulted ceilings, formal dining area, & ceiling fans. Gorgeous painted kitchen cabinets w/hardware, granite counters, SS appliances, subway tile backsplash, & breakfast bar. Flowing floor plan is perfect for entertaining. 3 Bedrooms, ample closets, interior laundry room, & 2 pristine updated baths. RV Gate! Large backyard w/a patio, shade trees, storage shed, & room for a pool & toys! Nearby Dog Park, Shopping, & Dining.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Llewellyn Park

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $81k271k

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

Neighborhood: Llewellyn Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500Rent in $8171567

* 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
Maryland Elementary School Primary Regular 899 48 2
Maryland Elementary School Middle Regular 899 48 2
Washington High School High Regular 1,714 73 4

Maryland Elementary School

  • Education Level: Primary
  • # of students: 899
  • # of teachers: 48
2
GreatSchools Rating

Maryland Elementary School

  • Education Level: Middle
  • # of students: 899
  • # of teachers: 48
2
GreatSchools Rating

Washington High School

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

$229,500$280,500$255,000

PURCHASE PRICE

$1,152$1,408$1,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,280
EXPENSES Loan Payment -$941
Property Tax -$152
Property Insurance -$57
Property Management Fees -$99
CASH FLOW
$31

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.

$255,000

PROJECTED PRICE

$1,280

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 8.4%
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

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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$941

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$21,710

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,280

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,391

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,195
1$1,1952$1,2803$1,3954$1,4505$1,495
$1,495
RENT COMPS ANALYSIS
  • 6502 N 24th Avenue Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1980
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,280
    • $0.85
    •  
  • 6565 N 19th Avenue #53 Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,216 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,216 Sqft ∙ Built 1963
    property image
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.98
    •  
  • 1725 W Marlette Avenue Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,565 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,565 Sqft ∙ Built 1970
    property image
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.89
    •  
  • 3043 W Tuckey Lane Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,698 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,698 Sqft ∙ Built 1961
    property image
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.85
    •  
  • 1812 W Claremont Street Phoenix, AZ 5
    • 3 beds 3 baths ∙ 1,560 Sqft ∙ Built 1970 3 beds 3 baths ∙ 1,560 Sqft ∙ Built 1970
    property image
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.96
    •  
PROPERTY LISTING DETAILS
Brissa Geiger
Mojica & Associates Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6160490
Last Updated: 11/14/2020
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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