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6525 W El Cortez Place Phoenix, AZ 85083

3 Beds 2 Baths 1,720 sqft Built 1999

$379,000

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 17, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $220.35
  • 4 Days on Market
  • MLS # : 6172118
  • Updated Date : 12/17/2020 at 11:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,720 sqft
  • Baths : 2 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

Stunning Designer 3bed/2bath Home Located In Quiet Hillside Development On A Cul De Sac Lot* Gorgeous Interior Design Draped In Soft Neutral Palette Colors* Kitchen w/ Plenty of Cabinets Space, Large Pantry & Island to entertain Your Guests* The 12'X 20' Office/Homeschool/Media Room Is Perfect For the New Lifestyle Demands* Nice Size Master Suite & Bath W/ Dbl Sinks & Lg WalkIn* French Doors Leads Out To Covered Patio & Spacious Backyard W/ Manicured Tiff Winter Lawn* Sunset Views Of Luden Mtn W/Access to Hiking & Endless Mountain Biking* It is Lovely

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Entrada North

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k358k

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

Neighborhood: Entrada North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8451981

* 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
Las Brisas Elementary School Primary Regular 834 44 8
Hillcrest Middle School Middle Regular 991 40 8
Mountain Ridge High School High Regular 2,206 94 7

Las Brisas Elementary School

  • Education Level: Primary
  • # of students: 834
  • # of teachers: 44
8
GreatSchools Rating

Hillcrest Middle School

  • Education Level: Middle
  • # of students: 991
  • # of teachers: 40
8
GreatSchools Rating

Mountain Ridge High School

  • Education Level: High
  • # of students: 2,206
  • # of teachers: 94
7
GreatSchools Rating
 

$341,100$416,900$379,000

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$1,398
Property Tax -$227
Property Insurance -$61
HOA -$35
Property Management Fees -$99
CASH FLOW
-$230

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.

$379,000

PROJECTED PRICE

$1,590

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,185

INVESTMENT

$106,185

Down Payment
$94,750
Rehab Estimate
$5,750
Closing Costs
$5,685

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,398

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $94,750
Loan Amount $284,250
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$8,488

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
  • $1,595

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,5953$1,6004$1,6255$1,695
$1,695
RENT COMPS ANALYSIS
  • 6525 W El Cortez Place Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 6535 W Briles Road Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,782 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,782 Sqft ∙ Built 1999
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.90
    •  
  • 6629 W Range Mule Drive Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 1999
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.93
    •  
  • 6515 W Saddlehorn Road Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,656 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,656 Sqft ∙ Built 1998
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.98
    •  
  • 6607 W Prickly Pear Trail Phoenix, AZ 5
    • 4 beds 2 baths ∙ 1,884 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,884 Sqft ∙ Built 1999
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.90
    •  
PROPERTY LISTING DETAILS
Terry Swartz
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6172118
Last Updated: 12/17/2020
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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