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7014 W Mitchell Drive Phoenix, AZ 85033

5 Beds 3 Baths 2,678 sqft Built 1988

$315,000

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1988
  • Price/Sqft : $117.63
  • 3 Days on Market
  • MLS # : 6157161
  • Updated Date : 11/06/2020 at 11:43
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,678 sqft
  • Baths : 3 full
Listing Agent

Exp Realty

Listing Agent's Description

Rare opportunity for a spacious floor plan with 2 full master suites and 3 additional bedrooms. Located in the highly desirable Phoenix community of Solar One with community pool, full basketball court, and playground. Features include an RV gate, oversized 9,953 square foot lot, storage shed, extended covered patio, epoxy garage flooring, 2 separate AC Units and more. Spacious master suite with separate sinks, tiled walk in shower, and huge walk-in closet! Centrally located near the 101 and 10 freeways.

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
G. Frank Davidson Elementary School Primary Regular 820 37 1
Estrella Middle School Middle Regular 1,338 55 4
Trevor Browne High School High Regular 3,077 144 3

G. Frank Davidson Elementary School

  • Education Level: Primary
  • # of students: 820
  • # of teachers: 37
1
GreatSchools Rating

Estrella Middle School

  • Education Level: Middle
  • # of students: 1,338
  • # of teachers: 55
4
GreatSchools Rating

Trevor Browne High School

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

$283,500$346,500$315,000

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$1,162
Property Tax -$190
Property Insurance -$79
HOA -$78
Property Management Fees -$99
CASH FLOW
-$58

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.

$315,000

PROJECTED PRICE

$1,550

PROJECTED RENT

0.49%

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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,162

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$16,340

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $0.58

    LIST RENT PER SQFT
  • $1,875

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,900
$1,900
RENT COMPS ANALYSIS
  • 7014 W Mitchell Drive Phoenix, AZ 1
    • 5 beds 3 baths ∙ 2,678 Sqft ∙ Built 1988 5 beds 3 baths ∙ 2,678 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.58
    •  
  • 6844 W Heatherbrae Drive Phoenix, AZ 2
    • 4 beds 3 baths ∙ 2,704 Sqft ∙ Built 1975 4 beds 3 baths ∙ 2,704 Sqft ∙ Built 1975
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.70
    •  
PROPERTY LISTING DETAILS
Phillip Shaver
Exp Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6157161
Last Updated: 11/06/2020
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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