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6535 W Briles Road Phoenix, AZ 85083

3 Beds 2 Baths 1,782 sqft Built 1999

$355,000

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $199.21
  • 2 Days on Market
  • MLS # : 6192099
  • Updated Date : 02/13/2021 at 08:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,782 sqft
  • Baths : 2 full
Listing Agent

Arizona Gateway Real Estate

Listing Agent's Description

Fantastic opportunity to live in Eagle Ridge - a picturesque community in North Phoenix. Well appointed single level jewell with North/South exposure, beautiful desert landscaping out front, and fantastic mountain views.Single level, 3 spacious bedrooms, 2 full bathrooms, over 1700sqft of open living space. Vaulted ceilings, both living and family rooms &gas fireplace. This well cared for property is just waiting for your personal touches. 3 car garage, built in cabinets for extra storage. Spacious backyard waiting for your vision. A great place to host family and friends with plenty of space for everyone.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Eagle Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k358k

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

Neighborhood: Eagle Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8991981

* 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
Hillcrest Middle School Middle Regular 991 40 8
Mountain Ridge High School High Regular 2,206 94 7
Hillcrest Middle School Middle Unknown NA

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

Hillcrest Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$319,500$390,500$355,000

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$1,233
Property Tax -$213
Property Insurance -$62
HOA -$3
Property Management Fees -$99
CASH FLOW
$10

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.

$355,000

PROJECTED PRICE

$1,620

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.3%
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$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$99,825

INVESTMENT

$99,825

Down Payment
$88,750
Rehab Estimate
$5,750
Closing Costs
$5,325

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,233

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $88,750
Loan Amount $266,250
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$21,064

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,639

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6003$1,6204$1,6955$1,700
$1,700
RENT COMPS ANALYSIS
  • 6535 W Briles Road Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,782 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,782 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.91
    •  
  • 6823 W Buckskin Trail Peoria, AZ 1
    • 4 beds 2 baths ∙ 1,665 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,665 Sqft ∙ Built 1999
    property image
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.93
    •  
  • 6629 W Range Mule Drive Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 1999
    property image
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.93
    •  
  • 6607 W Prickly Pear Trail Phoenix, AZ 4
    • 4 beds 2 baths ∙ 1,884 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,884 Sqft ∙ Built 1999
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.90
    •  
  • 6541 W Molly Lane Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,845 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,845 Sqft ∙ Built 2002
    property image
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.92
    •  
PROPERTY LISTING DETAILS
Eva Marin
Arizona Gateway Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6192099
Last Updated: 02/13/2021
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. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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