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6850 W Devonshire Avenue #261 # 261 Phoenix, AZ 85033

3 Beds 1 Baths 1,008 sqft Built 1973

INVESTimate

$115,000

List Price

$800

$720 - $880

Rent Est.

$130,870  ( +13.80%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 1973
  • Price/Sqft : $114.09
  • 8 Days on Market
  • MLS # : 6119688
  • Updated Date : 08/19/2020 at 16:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,008 sqft
  • Baths : 1 full
Listing Agent

West Usa Realty

Listing Agent's Description

This spacious 3 / 1 bath condo has a great open floor plan. Great 3 bedroom 1 bath. Large courtyard patio with washer and dryer hook up. Currently leased @ $918 on a MTM. Photos were taken prior to occupancy in 2019. Please allow 24-48 hour notice for showings

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Maryvale

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $74k271k

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

Neighborhood: Maryvale

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6831567

* 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
Heatherbrae Elementary School Primary Regular 798 34 3
Desert Sands Middle School Middle Regular 1,103 48 2
Trevor Browne High School High Regular 3,077 144 3

Heatherbrae Elementary School

  • Education Level: Primary
  • # of students: 798
  • # of teachers: 34
3
GreatSchools Rating

Desert Sands Middle School

  • Education Level: Middle
  • # of students: 1,103
  • # of teachers: 48
2
GreatSchools Rating

Trevor Browne High School

  • Education Level: High
  • # of students: 3,077
  • # of teachers: 144
3
GreatSchools Rating
 

$103,500$126,500$115,000

PURCHASE PRICE

$720$880$800

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k

PROJECTED ANNUAL CASH FLOW

11530-$1.0k$0.0$1.0k$2.0k$3.0k$4.0k$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $800
EXPENSES Loan Payment -$424
Property Tax -$69
Property Insurance -$47
HOA -$155
Property Management Fees -$99
CASH FLOW
$6

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.

$115,000

PROJECTED PRICE

$800

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 13.80%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$36,225

INVESTMENT

$36,225

Down Payment
$28,750
Rehab Estimate
$5,750
Closing Costs
$1,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$424

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $28,750
Loan Amount $86,250
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$6,726

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $800

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $816

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$800
1$8002$1,0003$1,0254$1,1005$1,149
$1,149
RENT COMPS ANALYSIS
  • 6850 W Devonshire Avenue #261 Phoenix, 1
    • 3 beds 1 baths ∙ 1,008 Sqft ∙ Built 1973 3 beds 1 baths ∙ 1,008 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $800
    • $0.79
    •  
  • 3220 N 79th Avenue Phoenix, 2
    • 3 beds 2 baths ∙ 1,343 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,343 Sqft ∙ Built 1978
    LEASED 03/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $0.74
    •  
  • 4102 N 69th Lane #1407 Phoenix, 3
    • 3 beds 3 baths ∙ 1,264 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,264 Sqft ∙ Built 1984
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,025
    • $0.81
    •  
  • 5815 W Turney Avenue Phoenix, 4
    • 3 beds 2 baths ∙ 1,305 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,305 Sqft ∙ Built 1957
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.84
    •  
  • 7141 W Westview Drive Phoenix, 5
    • 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1971
    LEASED 03/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,149
    • $0.85
    •  
PROPERTY LISTING DETAILS
Ophelia Mougel
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6119688
Last Updated: 08/19/2020
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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