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7046 N 28th Avenue Phoenix, AZ 85051

3 Beds 2 Baths 1,518 sqft Built 1992

$270,000

List Price

$1,190

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $177.87
  • 3 Days on Market
  • MLS # : 6159844
  • Updated Date : 11/13/2020 at 12:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,518 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

This spacious home boasts an expansive master suite. The entire upstairs belongs to the master suite for maximum privacy and elbow room. Master also has two closets, dual vanities, private toilet room, separate shower and bathtub!The Large great room with vaulted ceilings leads out to well manicured and low maintenance backyard with a lush and peaceful setting.There is plenty of cabinet space in the kitchen and extra storage throughout the whole home. There is a spacious closet underneath the stairs. and cabinetry in the garage as well.The whole interior of the home has been painted in modern tones within the last few years. and newer carpet on the stairs.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Golden Keys Central

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: Golden Keys Central

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500Rent in $8311567

* 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
Washington Elementary School Primary Regular 957 49 3
Palo Verde Middle School Middle Regular 925 46 3
Washington High School High Regular 1,714 73 4

Washington Elementary School

  • Education Level: Primary
  • # of students: 957
  • # of teachers: 49
3
GreatSchools Rating

Palo Verde Middle School

  • Education Level: Middle
  • # of students: 925
  • # of teachers: 46
3
GreatSchools Rating

Washington High School

  • Education Level: High
  • # of students: 1,714
  • # of teachers: 73
4
GreatSchools Rating
 

$243,000$297,000$270,000

PURCHASE PRICE

$1,071$1,309$1,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,190
EXPENSES Loan Payment -$996
Property Tax -$161
Property Insurance -$57
HOA -$27
Property Management Fees -$99
CASH FLOW
-$150

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.

$270,000

PROJECTED PRICE

$1,190

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 8.9%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$7,497

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
  • $1,207

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$9503$1,2504$1,3505$1,400
$1,400
RENT COMPS ANALYSIS
  • 7046 N 28th Avenue Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,518 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,518 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3326 W Northern Avenue #1 Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1974
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $0.79
    •  
  • 6814 N 31st Avenue Phoenix, AZ 3
    • 4 beds 2 baths ∙ 1,697 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,697 Sqft ∙ Built 1973
    LEASED 05/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.74
    •  
  • 7734 N 30th Drive Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,639 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,639 Sqft ∙ Built 1987
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.82
    •  
  • 8047 N 31st Drive Phoenix, AZ 5
    • 4 beds 3 baths ∙ 1,686 Sqft ∙ Built 1979 4 beds 3 baths ∙ 1,686 Sqft ∙ Built 1979
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.83
    •  
PROPERTY LISTING DETAILS
Jonathan Bodeen
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6159844
Last Updated: 11/13/2020
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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