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6767 N 7th Street #214 # 214 Phoenix, AZ 85014

3 Beds 2 Baths 1,558 sqft Built 1963

INVESTimate

$239,999

List Price

$1,520

$1,368 - $1,672

Rent Est.

$275,999  ( +15.00%)   1 YR EST. FORECAST

PROPERTY INFO

August 26, 2020 RECENTLY ADDED
FACTS
  • Built In 1963
  • Price/Sqft : $154.04
  • 1 Days on Market
  • MLS # : 6122671
  • Updated Date : 08/26/2020 at 02:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,558 sqft
  • Baths : 2 full
Listing Agent

Dpr Realty Llc

Listing Agent's Description

Home sweet home! Lush landscaping and mature trees in a gated community welcome you to this bright & charming interior complete with 3 spacious bedrooms & 2 bathrooms. New interior paint, updated Dual glass windows, elegant laminate flooring throughout the entire property, RO System & updated LED lighting. Big open area with lots of natural light. Kitchen features light cabinets, countertops, gas cook top, refrigerator dishwasher and oven. 2 Community Pools with large grass area and an affordable HOA for the area and amenities. Enjoy spending time sitting in your own private patio. Close to''Restaurant Row's'' popular dining, shopping, and high rated school districts. Perfect starter home or investment. A must see.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Flynn Lane Biltmore

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $65k271k

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

Neighborhood: Flynn Lane Biltmore

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2950100010501100115012001250130013501400145015001550Rent in $9341567

* 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 Simis Elementary School Primary Regular 951 43 9
Madison Meadows Middle School Middle Regular 845 40 8
North High School High Regular 2,616 128 5

Madison Simis Elementary School

  • Education Level: Primary
  • # of students: 951
  • # of teachers: 43
9
GreatSchools Rating

Madison Meadows Middle School

  • Education Level: Middle
  • # of students: 845
  • # of teachers: 40
8
GreatSchools Rating

North High School

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

$215,999$263,999$239,999

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

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-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$885
Property Tax -$172
Property Insurance -$58
HOA -$238
Property Management Fees -$99
CASH FLOW
$68

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$239,999

PROJECTED PRICE

$1,520

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 15.00%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$885

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,000
Loan Amount $179,999
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$20,651

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
  • $1,648

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,4003$1,6004$1,6955$1,925
$1,925
RENT COMPS ANALYSIS
  • 6767 N 7th Street #214 Phoenix, 1
    • 3 beds 2 baths ∙ 1,558 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,558 Sqft ∙ Built 1963
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 6767 N 7th Street #206 Phoenix, 2
    • 3 beds 2 baths ∙ 1,558 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,558 Sqft ∙ Built 1963
    property image
    LEASED 10/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.90
    •  
  • 6609 N 10th Place Phoenix, 3
    • 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1953
    property image
    LEASED 12/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.06
    •  
  • 6741 N 11th Street Phoenix, 4
    • 4 beds 2 baths ∙ 1,485 Sqft ∙ Built 1951 4 beds 2 baths ∙ 1,485 Sqft ∙ Built 1951
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.14
    •  
  • 623 E Northview Avenue Phoenix, 5
    • 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1983
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $1.13
    •  
PROPERTY LISTING DETAILS
Gavriel Yagudayev
Dpr Realty Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6122671
Last Updated: 08/26/2020
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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