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6711 N 21st Way Phoenix, AZ 85016

4 Beds 4 Baths 2,887 sqft Built 1966

$839,000

List Price

$3,010

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1966
  • Price/Sqft : $290.61
  • 4 Days on Market
  • MLS # : 6197666
  • Updated Date : 02/28/2021 at 00:03
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,887 sqft
  • Baths : 4 full
Listing Agent

North & Co

Listing Agent's Description

Total remodel in the sought after Crown Heights community on nearly 1/3 acre with mountain views. This large single level home features 4 bedrooms all with en suite bathrooms. Generous master retreat includes his and hers closets. The gourmet kitchen features quartz slab countertops, high end modern cabinetry, double ovens and GE profile appliances. In addition to the luxurious upgrades this home has such recent updates as a new roof (2015), new AC unit (2017), new pool pump (2020) and fresh exterior paint. Open floor plan with fireplace in the family room and heated/cooled sunroom. The spacious backyard with sparkling diving pool is great for entertaining. Excellent location just steps from Granada Park and minutes from Piestewa Peak hiking.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Crown Heights

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $91k478k

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

Neighborhood: Crown Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9342546

* 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
Camelback High School High Regular 2,048 110 4
Phoenix Coding Academy High Regular NA

Madison Heights Elementary School

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

Camelback High School

  • Education Level: High
  • # of students: 2,048
  • # of teachers: 110
4
GreatSchools Rating

Phoenix Coding Academy

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

$755,100$922,900$839,000

PURCHASE PRICE

$2,709$3,311$3,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,010
EXPENSES Loan Payment -$2,914
Property Tax -$603
Property Insurance -$83
Property Management Fees -$99
CASH FLOW
-$690

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.

$839,000

PROJECTED PRICE

$3,010

PROJECTED RENT

0.36%

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$2.5M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$228,085

INVESTMENT

$228,085

Down Payment
$209,750
Rehab Estimate
$5,750
Closing Costs
$12,585

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,914

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $209,750
Loan Amount $629,250
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$5,842

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
  • $3,515

    COMP ESTIMATED VALUE
  • $1.22

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,0003$3,4004$3,5005$3,500
$3,500
RENT COMPS ANALYSIS
  • 6711 N 21st Way Phoenix, AZ 1
    • 4 beds 4 baths ∙ 2,887 Sqft ∙ Built 1966 4 beds 4 baths ∙ 2,887 Sqft ∙ Built 1966
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1739 E Ocotillo Road Phoenix, AZ 2
    • 4 beds 4 baths ∙ 2,700 Sqft ∙ Built 1957 4 beds 4 baths ∙ 2,700 Sqft ∙ Built 1957
    property image
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.11
    •  
  • 2035 E Orangewood Avenue Phoenix, AZ 3
    • 4 beds 3 baths ∙ 2,615 Sqft ∙ Built 1973 4 beds 3 baths ∙ 2,615 Sqft ∙ Built 1973
    property image
    LEASED 08/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.30
    •  
  • 2626 E Arizona Biltmore Circle #2 Phoenix, AZ 4
    • 4 beds 3 baths ∙ 2,913 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,913 Sqft ∙ Built 1980
    property image
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.20
    •  
  • 2626 E Arizona Biltmore Circle #8 Phoenix, AZ 5
    • 3 beds 3 baths ∙ 2,788 Sqft ∙ Built 1980 3 beds 3 baths ∙ 2,788 Sqft ∙ Built 1980
    property image
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.26
    •  
PROPERTY LISTING DETAILS
Gina Keilen
North & Co
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6197666
Last Updated: 02/28/2021
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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