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6610 W Cavedale Drive Phoenix, AZ 85083

4 Beds 3 Baths 2,876 sqft Built 2001

$425,000

List Price

$2,130

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $147.77
  • 3 Days on Market
  • MLS # : 6194989
  • Updated Date : 02/20/2021 at 00:12
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,876 sqft
  • Baths : 3 full
Listing Agent

Homesmart

Listing Agent's Description

Beautiful 4Bed/3Ba home in Gated Community! Stunning Mtn Views, Large cul-de-sac lot with plenty of room for a pool. Open Kitchen w/ Granite Tile Countertops, and a Breakfast Bar. Master Upstairs, with a Walk-in Closet! Master-bath includes 2 sinks and Separate Tub and Shower. There are 2 additional Bedrooms, a Loft and Bathroom upstairs and an additional Bedroom and Bath downstairs.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Eagle Highlands North

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k358k

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

Neighborhood: Eagle Highlands North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9341981

* 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
Sandra Day O'connor High School High Regular 2,481 108 6

Sandra Day O'connor High School

  • Education Level: High
  • # of students: 2,481
  • # of teachers: 108
6
GreatSchools Rating
 

$382,500$467,500$425,000

PURCHASE PRICE

$1,917$2,343$2,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,130
EXPENSES Loan Payment -$1,476
Property Tax -$254
Property Insurance -$83
HOA -$72
Property Management Fees -$99
CASH FLOW
$145

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.

$425,000

PROJECTED PRICE

$2,130

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 2.2%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$36,310

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,130

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,315

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$2,130
1$2,1302$2,1503$2,2994$2,3505$2,395
$2,395
RENT COMPS ANALYSIS
  • 6610 W Cavedale Drive Phoenix, AZ 1
    • 4 beds 3 baths ∙ 2,876 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,876 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $2,130
    • $0.74
    •  
  • 6357 W Desert Hollow Drive Phoenix, AZ 2
    • 4 beds 3 baths ∙ 2,793 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,793 Sqft ∙ Built 1999
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.77
    •  
  • 6617 W Andrea Drive Phoenix, AZ 3
    • 5 beds 3 baths ∙ 2,876 Sqft ∙ Built 2003 5 beds 3 baths ∙ 2,876 Sqft ∙ Built 2003
    LEASED 08/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,299
    • $0.80
    •  
  • 5912 W Straight Arrow Lane Phoenix, AZ 4
    • 4 beds 4 baths ∙ 2,850 Sqft ∙ Built 2002 4 beds 4 baths ∙ 2,850 Sqft ∙ Built 2002
    LEASED 09/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.82
    •  
  • 6509 W Molly Lane Phoenix, AZ 5
    • 5 beds 3 baths ∙ 2,876 Sqft ∙ Built 2003 5 beds 3 baths ∙ 2,876 Sqft ∙ Built 2003
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.83
    •  
PROPERTY LISTING DETAILS
Julie Miller
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6194989
Last Updated: 02/20/2021
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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