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6628 N 17th Way Phoenix, AZ 85016

4 Beds 3 Baths 2,368 sqft Built 1957

$750,000

List Price

$2,630

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1957
  • Price/Sqft : $316.72
  • 4 Days on Market
  • MLS # : 6198751
  • Updated Date : 02/26/2021 at 02:11
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,368 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty

Listing Agent's Description

SHOWINGS ONLY SATURDAY 9am-4pm PLEASE SCHEDULE WITH YOUR AGENT -.34 Acre Flood Irrigation Cul-De-Sac Lot with a 3 Car Garage (1 is a shop with A/C unit), large diving pool and gorgeous custom outdoor kitchen gazebo with tile roof, plumbing and electrical, plus gas. This a 4 bedroom, 2.5 bath home with flat tile roofing, TRANE HVAC, gas heat and a serious amount of upgrades throughout the years! There are two living areas and a kitchen that you could open up or enjoy as-is. Granite kitchen counters and kept up nicely throughout. ALL bedrooms are REALLY LARGE & have walk-in closets! Most excellent Biltmore corridor home off 16th Street in 85016 zip! Yard does have a pool fence off the back that keeps the yard nice and open, but safe. Zoned R-6. Great house with solid bones in great shape!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Beverly Villa

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400kPrice in $91k442k

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

Neighborhood: Beverly Villa

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000210022002300Rent in $9342345

* 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
Madison Heights Elementary School Primary Regular 538 30 8
North High School High Regular 2,616 128 5
Phoenix Coding Academy High Regular NA

Madison Heights Elementary School

  • Education Level: Primary
  • # of students: 538
  • # of teachers: 30
8
GreatSchools Rating

North High School

  • Education Level: High
  • # of students: 2,616
  • # of teachers: 128
5
GreatSchools Rating

Phoenix Coding Academy

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

$675,000$825,000$750,000

PURCHASE PRICE

$2,367$2,893$2,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,630
EXPENSES Loan Payment -$2,605
Property Tax -$539
Property Insurance -$73
Property Management Fees -$99
CASH FLOW
-$686

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.

$750,000

PROJECTED PRICE

$2,630

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.7%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$204,500

INVESTMENT

$204,500

Down Payment
$187,500
Rehab Estimate
$5,750
Closing Costs
$11,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,605

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $187,500
Loan Amount $562,500
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$3,550

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,630

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $3,327

    COMP ESTIMATED VALUE
  • $1.41

    COMP AVG. RENT PER SQFT
Comps Range
$2,630
1$2,6302$3,0003$3,0004$3,5005$3,500
$3,500
RENT COMPS ANALYSIS
  • 6628 N 17th Way Phoenix, AZ 1
    • 4 beds 3 baths ∙ 2,368 Sqft ∙ Built 1957 4 beds 3 baths ∙ 2,368 Sqft ∙ Built 1957
    • Rent
    • Rent Per SQFT
    •  
    • $2,630
    • $1.11
    •  
  • 6818 N 22nd Place Phoenix, AZ 2
    • 4 beds 3 baths ∙ 2,098 Sqft ∙ Built 1968 4 beds 3 baths ∙ 2,098 Sqft ∙ Built 1968
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.43
    •  
  • 1739 E Ocotillo Road Phoenix, AZ 3
    • 4 beds 4 baths ∙ 2,700 Sqft ∙ Built 1957 4 beds 4 baths ∙ 2,700 Sqft ∙ Built 1957
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.11
    •  
  • 5823 N 12th Place Phoenix, AZ 4
    • 4 beds 3 baths ∙ 2,203 Sqft ∙ Built 1952 4 beds 3 baths ∙ 2,203 Sqft ∙ Built 1952
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.59
    •  
  • 6710 N 21st Place Phoenix, AZ 5
    • 3 beds 2 baths ∙ 2,351 Sqft ∙ Built 1966 3 beds 2 baths ∙ 2,351 Sqft ∙ Built 1966
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.49
    •  
PROPERTY LISTING DETAILS
Heather Binder
Exp Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6198751
Last Updated: 02/26/2021
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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