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7116 N 27th Lane Phoenix, AZ 85051

5 Beds 3 Baths 2,354 sqft Built 2017

$390,000

List Price

$2,050

$1.8K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $165.68
  • 3 Days on Market
  • MLS # : 6202979
  • Updated Date : 03/05/2021 at 21:52
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,354 sqft
  • Baths : 3 full
Listing Agent

Kenneth James Realty

Listing Agent's Description

Like new home with all the upgrades. Solid quartz counters in kitchen and bathrooms, upgraded hi top cabinets, plank ceramic tile and plush carpet, gated community and minutes away from Grand Canyon University.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Camden Court

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $82k271k

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

Neighborhood: Camden Court

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8621567

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

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
 

$351,000$429,000$390,000

PURCHASE PRICE

$1,845$2,255$2,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,050
EXPENSES Loan Payment -$1,355
Property Tax -$233
Property Insurance -$73
HOA -$65
Property Management Fees -$99
CASH FLOW
$226

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.

$390,000

PROJECTED PRICE

$2,050

PROJECTED RENT

0.53%

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$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$109,100

INVESTMENT

$109,100

Down Payment
$97,500
Rehab Estimate
$5,750
Closing Costs
$5,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,355

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $97,500
Loan Amount $292,500
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$43,939

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,050

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,213

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$2,0503$2,900
$2,900
RENT COMPS ANALYSIS
  • 7116 N 27th Lane Phoenix, AZ 2
    • 5 beds 3 baths ∙ 2,354 Sqft ∙ Built 2017 5 beds 3 baths ∙ 2,354 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.87
    •  
  • 7024 N 32nd Avenue Phoenix, AZ 1
    • 5 beds 2 baths ∙ 2,125 Sqft ∙ Built 2013 5 beds 2 baths ∙ 2,125 Sqft ∙ Built 2013
    property image
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.75
    •  
  • 6418 N 13th Avenue Phoenix, AZ 3
    • 4 beds 3 baths ∙ 2,567 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,567 Sqft ∙ Built 2001
    property image
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.13
    •  
PROPERTY LISTING DETAILS
David Mowry
Kenneth James Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6202979
Last Updated: 03/05/2021
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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