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6844 N 14th Drive Phoenix, AZ 85013

3 Beds 2 Baths 1,512 sqft Built 1968

$420,000

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1968
  • Price/Sqft : $277.78
  • 11 Days on Market
  • MLS # : 6150158
  • Updated Date : 11/13/2020 at 12:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,512 sqft
  • Baths : 2 full
Listing Agent

Realty One Group

Listing Agent's Description

Stunning Modern home in the heart of Phoenix, close to the Central Corridor. The home was updated this year. It includes renovated bathrooms, kitchen backsplash, new stove and dishwasher. The kitchen features natural wood cabinets. Lots of updated fixtures including new ceiling fans. The Interior and exterior are freshly painted. Sprawling secure backyard with front and backyard irrigation. Mature lush landscaping that provides the perfect privacy. Large master bedroom with walk in closet. Near Palo Verde Golf Course and hiking trails. Short distance to freeways. This home is in lovely neighborhood. The owner has taken pride in home and it shows. A must see!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Alhambra

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: Alhambra

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7781567

* 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
Maryland Elementary School Primary Regular 899 48 2
Maryland Elementary School Middle Regular 899 48 2
Washington High School High Regular 1,714 73 4

Maryland Elementary School

  • Education Level: Primary
  • # of students: 899
  • # of teachers: 48
2
GreatSchools Rating

Maryland Elementary School

  • Education Level: Middle
  • # of students: 899
  • # of teachers: 48
2
GreatSchools Rating

Washington High School

  • Education Level: High
  • # of students: 1,714
  • # of teachers: 73
4
GreatSchools Rating
 

$378,000$462,000$420,000

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$1,550
Property Tax -$251
Property Insurance -$57
Property Management Fees -$99
CASH FLOW
-$506

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.

$420,000

PROJECTED PRICE

$1,450

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 9.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$117,050

INVESTMENT

$117,050

Down Payment
$105,000
Rehab Estimate
$5,750
Closing Costs
$6,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,550

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $105,000
Loan Amount $315,000
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$891

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,588

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5003$1,5954$1,6005$1,600
$1,600
RENT COMPS ANALYSIS
  • 6844 N 14th Drive Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1968
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.96
    •  
  • 6533 N 7th Avenue #7 Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,417 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,417 Sqft ∙ Built 1975
    property image
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.06
    •  
  • 6521 N 19th Drive Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,395 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,395 Sqft ∙ Built 1957
    property image
    LEASED 02/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.14
    •  
  • 6533 N 7th Avenue #26 Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1975
    property image
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.07
    •  
  • 6837 N 8th Avenue Phoenix, AZ 5
    • 3 beds 3 baths ∙ 1,712 Sqft ∙ Built 1955 3 beds 3 baths ∙ 1,712 Sqft ∙ Built 1955
    property image
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.93
    •  
PROPERTY LISTING DETAILS
Alaina Chavez
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6150158
Last Updated: 11/13/2020
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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