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702 E Desert Park Lane Phoenix, AZ 85020

3 Beds 2 Baths 1,860 sqft Built 1954

$575,000

List Price

$2,210

$2K - $2.4K

Rent Est.

PROPERTY INFO

December 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1954
  • Price/Sqft : $309.14
  • 8 Days on Market
  • MLS # : 6174769
  • Updated Date : 12/29/2020 at 13:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,860 sqft
  • Baths : 2 full
Listing Agent

The Daniel Montez Real Estate Group

Listing Agent's Description

Located in a prime location in North Central Phoenix this 3 bedroom, 2 bathroom home, on a 10,000+sq foot lot has been completely remodeled and updated with the quality finishes that today's home buyer is searching for. This home features high quality wood laminate floors, attractive decorative and modern tile in the bathrooms, pantry, and laundry room, as well as new trim molding, doors and hardware. This open floor plan features a new kitchen with shaker cabinets, soft close drawers and doors, modern farm house sink, all new appliances, counter seating, and white quarts counters. The master suite has been completely renovated with a walk in shower, walk in closet, shaker cabinets, quarts counters, and all new lighting and water fixtures.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Royal Crest Manor

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $91k481k

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

Neighborhood: Royal Crest Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000210022002300Rent in $9342379

* 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
Madison Simis Elementary School Primary Regular 951 43 9
Madison Meadows Middle School Middle Regular 845 40 8
North High School High Regular 2,616 128 5

Madison Simis Elementary School

  • Education Level: Primary
  • # of students: 951
  • # of teachers: 43
9
GreatSchools Rating

Madison Meadows Middle School

  • Education Level: Middle
  • # of students: 845
  • # of teachers: 40
8
GreatSchools Rating

North High School

  • Education Level: High
  • # of students: 2,616
  • # of teachers: 128
5
GreatSchools Rating
 

$517,500$632,500$575,000

PURCHASE PRICE

$1,989$2,431$2,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,210
EXPENSES Loan Payment -$2,122
Property Tax -$413
Property Insurance -$63
Property Management Fees -$99
CASH FLOW
-$487

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$575,000

PROJECTED PRICE

$2,210

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 7.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
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-$10k-$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$158,125

INVESTMENT

$158,125

Down Payment
$143,750
Rehab Estimate
$5,750
Closing Costs
$8,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,122

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $143,750
Loan Amount $431,250
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$6,747

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
  • $2,344

    COMP ESTIMATED VALUE
  • $1.26

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,2503$2,4504$2,4955$2,500
$2,500
RENT COMPS ANALYSIS
  • 702 E Desert Park Lane Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 1954
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 727 E Palmaire Avenue Phoenix, AZ 2
    • 3 beds 3 baths ∙ 1,918 Sqft ∙ Built 1972 3 beds 3 baths ∙ 1,918 Sqft ∙ Built 1972
    property image
    LEASED 11/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.17
    •  
  • 225 E El Camino Drive Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,967 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,967 Sqft ∙ Built 1957
    property image
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.25
    •  
  • 838 E Belmont Avenue Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,918 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,918 Sqft ∙ Built 1954
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.30
    •  
  • 318 E Kaler Drive Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,892 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,892 Sqft ∙ Built 1960
    property image
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.32
    •  
PROPERTY LISTING DETAILS
Christopher Neil Dudley
The Daniel Montez Real Estate Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6174769
Last Updated: 12/29/2020
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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