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651 S 29th Avenue Phoenix, AZ 85009

3 Beds 2 Baths 1,134 sqft Built 1950

$230,000

List Price

$970

$873 - $1.1K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 1950
  • Price/Sqft : $202.82
  • 6 Days on Market
  • MLS # : 6155690
  • Updated Date : 11/04/2020 at 13:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,134 sqft
  • Baths : 2 full
Listing Agent

Superlative Realty

Listing Agent's Description

A start up home in the heart of Phoenix. 3 bedroom, 2 bathroom, kitchen with dining room together, separate living room/family room. Tile all over the house. Gas stove in the kitchen. A huge patio in the back with access from the front.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Estrella

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $82k271k

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

Neighborhood: Estrella

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500Rent in $8031567

* 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
Jack L. Kuban Elementary School Primary Regular 398 21 4
Jack L. Kuban Elementary School Middle Regular 398 21 4
Carl Hayden High School High Regular 2,080 116 3

Jack L. Kuban Elementary School

  • Education Level: Primary
  • # of students: 398
  • # of teachers: 21
4
GreatSchools Rating

Jack L. Kuban Elementary School

  • Education Level: Middle
  • # of students: 398
  • # of teachers: 21
4
GreatSchools Rating

Carl Hayden High School

  • Education Level: High
  • # of students: 2,080
  • # of teachers: 116
3
GreatSchools Rating
 

$207,000$253,000$230,000

PURCHASE PRICE

$873$1,067$970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $970
EXPENSES Loan Payment -$849
Property Tax -$100
Property Insurance -$49
Property Management Fees -$99
CASH FLOW
-$127

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.

$230,000

PROJECTED PRICE

$970

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 9.4%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

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$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$849

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$7,076

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $970

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,032

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$850
1$8502$9703$1,250
$1,250
RENT COMPS ANALYSIS
  • 651 S 29th Avenue Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,134 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,134 Sqft ∙ Built 1950
    • Rent
    • Rent Per SQFT
    •  
    • $970
    • $0.86
    •  
  • 1711 S 28th Drive Phoenix, AZ 1
    • 3 beds 1 baths ∙ 950 Sqft ∙ Built 1946 3 beds 1 baths ∙ 950 Sqft ∙ Built 1946
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $850
    • $0.89
    •  
  • 1732 W Cocopah Street Phoenix, AZ 3
    • 4 beds 2 baths ∙ 1,350 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,350 Sqft ∙ Built 1955
    LEASED 06/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.93
    •  
PROPERTY LISTING DETAILS
Braulio D. Ochoa
Superlative Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6155690
Last Updated: 11/04/2020
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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