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7014 W Polk Street Phoenix, AZ 85043

3 Beds 2 Baths 1,246 sqft Built 1985

$250,000

List Price

$1,020

$918 - $1.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $200.64
  • 4 Days on Market
  • MLS # : 6196123
  • Updated Date : 02/21/2021 at 01:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,246 sqft
  • Baths : 2 full
Listing Agent

Realty One Group

Listing Agent's Description

This Phoenix home has a lot to offer! This 3 bedroom + den and 2 bath is newly updated. The gorgeous kitchen features granite countertops, custom backsplash, new can lights, pendent lights, and new microwave and stove. The bathrooms are updated with new tile, new tub, new toilet, and new shower and faucets. This property has a large size backyard ready for you to design. This home features a newly added carport and a custom RV gate with room for vehicles, a RV, or boats. Did we mention no HOA?!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Estrella

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $82k271k

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

Neighborhood: Estrella

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500Rent in $8031567

* 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
Fowler Elementary School Primary Regular 657 34 4
Western Valley Middle School Middle Regular 795 41 3
Sierra Linda High School High Regular 1,883 72 1

Fowler Elementary School

  • Education Level: Primary
  • # of students: 657
  • # of teachers: 34
4
GreatSchools Rating

Western Valley Middle School

  • Education Level: Middle
  • # of students: 795
  • # of teachers: 41
3
GreatSchools Rating

Sierra Linda High School

  • Education Level: High
  • # of students: 1,883
  • # of teachers: 72
1
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$918$1,122$1,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,020
EXPENSES Loan Payment -$868
Property Tax -$145
Property Insurance -$52
Property Management Fees -$99
CASH FLOW
-$143

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.

$250,000

PROJECTED PRICE

$1,020

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 9.4%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$5,249

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,020

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,053

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,020
1$1,0202$1,2953$1,2994$1,3035$1,350
$1,350
RENT COMPS ANALYSIS
  • 7014 W Polk Street Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,246 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,246 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,020
    • $0.82
    •  
  • 6434 W Sonora Street Phoenix, AZ 2
    • 4 beds 2 baths ∙ 1,532 Sqft ∙ Built 1997 4 beds 2 baths ∙ 1,532 Sqft ∙ Built 1997
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.85
    •  
  • 7044 W Taylor Street Phoenix, AZ 3
    • 4 beds 2 baths ∙ 1,588 Sqft ∙ Built 1985 4 beds 2 baths ∙ 1,588 Sqft ∙ Built 1985
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $0.82
    •  
  • 1418 S 66th Lane Phoenix, AZ 4
    • 4 beds 2 baths ∙ 1,532 Sqft ∙ Built 1995 4 beds 2 baths ∙ 1,532 Sqft ∙ Built 1995
    LEASED 11/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,303
    • $0.85
    •  
  • 6346 W Whyman Avenue Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 2001
    LEASED 10/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.86
    •  
PROPERTY LISTING DETAILS
Mandi Jo Williams
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6196123
Last Updated: 02/21/2021
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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