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6850 S 18th Place Phoenix, AZ 85042

4 Beds 2 Baths 2,220 sqft Built 1996

$474,900

List Price

$1,840

$1.7K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $213.92
  • 1 Days on Market
  • MLS # : 6263780
  • Updated Date : 07/13/2021 at 17:34
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,220 sqft
  • Baths : 2 full
Listing Agent

Offerpad

Listing Agent's Description

VACANT! Welcome home! Beautiful updated single-story POOL home! Fresh carpet and interior paint. Nice wide open kitchen that has striking black granite counters offset by freshly painted cabinets. Existing stainless appliances and new hood. High ceilings really makes this home feel huge! Master and hall bath both have double vanities. Master has separate shower and garden tub. Refreshing pebble tech pool to cool off in! Come see it today!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: South Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $81k271k

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

Neighborhood: South Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7291567

* 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
South Mountain High School High Regular 1,706 102 2
Phoenix Coding Academy High Unknown NA
Phoenix Coding Academy High Regular NA

South Mountain High School

  • Education Level: High
  • # of students: 1,706
  • # of teachers: 102
2
GreatSchools Rating

Phoenix Coding Academy

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

Phoenix Coding Academy

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

$427,410$522,390$474,900

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,840
EXPENSES Loan Payment -$1,650
Property Tax -$309
Property Insurance -$70
Property Management Fees -$99
CASH FLOW
-$288

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.

$474,900

PROJECTED PRICE

$1,840

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 11.9%
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$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,599

INVESTMENT

$131,599

Down Payment
$118,725
Rehab Estimate
$5,750
Closing Costs
$7,124

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,650

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $118,725
Loan Amount $356,175
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$8,349

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
  • $2,087

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,9003$1,9754$2,1005$2,100
$2,100
RENT COMPS ANALYSIS
  • 6850 S 18th Place Phoenix, AZ 1
    • 4 beds 2 baths ∙ 2,220 Sqft ∙ Built 1996 4 beds 2 baths ∙ 2,220 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1851 E Ellis Street Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,907 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,907 Sqft ∙ Built 2004
    LEASED 05/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.00
    •  
  • 6858 S 19th Street Phoenix, AZ 3
    • 4 beds 2 baths ∙ 2,220 Sqft ∙ Built 1996 4 beds 2 baths ∙ 2,220 Sqft ∙ Built 1996
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.89
    •  
  • 2111 E Valencia Drive Phoenix, AZ 4
    • 4 beds 2 baths ∙ 2,343 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,343 Sqft ∙ Built 2000
    LEASED 09/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.90
    •  
  • 1812 E Beverly Road Phoenix, AZ 5
    • 3 beds 2 baths ∙ 2,169 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,169 Sqft ∙ Built 2003
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.97
    •  
PROPERTY LISTING DETAILS
Derek Dickson
Offerpad
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6263780
Last Updated: 07/13/2021
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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