Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

6939 W College Drive Phoenix, AZ 85033

4 Beds 2 Baths 2,543 sqft Built 1960

$264,900

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $104.17
  • 2 Days on Market
  • MLS # : 6192906
  • Updated Date : 02/13/2021 at 08:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,543 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

Last Deal in the Phoenix area! $104.17 a sq/ft!!! Located in the heart of Phoenix. NO HOA!!! 4 bedroom, 2 bath, 2543 sqft which includes a 579 permitted addition. Newer Roof. Centrally located close to downtown Phoenix with easy access to local sporting events, shopping, famous restaurants, freeways, and much more! Give this home a little sprucing up, and it will shine like a diamond!

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
Holiday Park Elementary School Primary Regular 814 39 2
Desert Sands Middle School Middle Regular 1,103 48 2
Trevor Browne High School High Regular 3,077 144 3

Holiday Park Elementary School

  • Education Level: Primary
  • # of students: 814
  • # of teachers: 39
2
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
 

$238,410$291,390$264,900

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$920
Property Tax -$160
Property Insurance -$77
Property Management Fees -$99
CASH FLOW
$265

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.

$264,900

PROJECTED PRICE

$1,520

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 13.8%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,949

INVESTMENT

$75,949

Down Payment
$66,225
Rehab Estimate
$5,750
Closing Costs
$3,974

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$920

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $66,225
Loan Amount $198,675
See What Happens When You Reinvest Cash Flow

10.58

YEARS SAVED

$41,996

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
  • $1,772

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,5953$1,7004$1,900
$1,900
RENT COMPS ANALYSIS
  • 6939 W College Drive Phoenix, AZ 1
    • 4 beds 2 baths ∙ 2,543 Sqft ∙ Built 1960 4 beds 2 baths ∙ 2,543 Sqft ∙ Built 1960
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 6426 W Medlock Drive Glendale, AZ 2
    • 4 beds 2 baths ∙ 2,206 Sqft ∙ Built 1959 4 beds 2 baths ∙ 2,206 Sqft ∙ Built 1959
    property image
    LEASED 12/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.72
    •  
  • 5102 N 61 Avenue Glendale, AZ 3
    • 5 beds 3 baths ∙ 2,550 Sqft ∙ Built 1959 5 beds 3 baths ∙ 2,550 Sqft ∙ Built 1959
    property image
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.67
    •  
  • 6844 W Heatherbrae Drive Phoenix, AZ 4
    • 4 beds 3 baths ∙ 2,704 Sqft ∙ Built 1975 4 beds 3 baths ∙ 2,704 Sqft ∙ Built 1975
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.70
    •  
PROPERTY LISTING DETAILS
Martha Sanchez
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6192906
Last Updated: 02/13/2021
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.

BESbswy