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719 W Morrow Drive Phoenix, AZ 85027

4 Beds 2 Baths 2,159 sqft Built 1978

$375,000

List Price

$1,780

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $173.69
  • 3 Days on Market
  • MLS # : 6167740
  • Updated Date : 12/04/2020 at 11:50
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,159 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Professional Partners

Listing Agent's Description

Beautiful North Phoenix Home off of Union Hills and 7th Ave! When you enter this home boasting 2100 sqft of living space you will find a large office/den space to the right with a lot of storage cabinets to one side a large Great Room directly ahead with a beautiful brick fireplace and a full WET BAR ! To the left of the foyer you will see the large dinning area with space for formal sitting and the gorgeous updated kitchen that features white soft close cabinets, a sleek granite and backsplash finish. The backyard was shown a lot of love by the owners, it has a great sized POOL with Artificial Turf and Pavers throughout that makes for great entertaining space! This home is in excellent shape, Newer ROOF, newer dual pane windows, flooring, updated plumbing and electrical. Did we mention

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Deer Valley

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $91k271k

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

Neighborhood: Deer Valley

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2850900950100010501100115012001250130013501400145015001550Rent in $8411567

* 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
Constitution Elementary School Primary Regular 680 44 4
Deer Valley Middle School Middle Regular 616 31 5
Barry Goldwater High School High Regular 1,856 88 4

Constitution Elementary School

  • Education Level: Primary
  • # of students: 680
  • # of teachers: 44
4
GreatSchools Rating

Deer Valley Middle School

  • Education Level: Middle
  • # of students: 616
  • # of teachers: 31
5
GreatSchools Rating

Barry Goldwater High School

  • Education Level: High
  • # of students: 1,856
  • # of teachers: 88
4
GreatSchools Rating
 

$337,500$412,500$375,000

PURCHASE PRICE

$1,602$1,958$1,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,780
EXPENSES Loan Payment -$1,384
Property Tax -$224
Property Insurance -$69
Property Management Fees -$99
CASH FLOW
$4

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.

$375,000

PROJECTED PRICE

$1,780

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.8%
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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,384

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$28,515

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,780

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,035

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7803$1,7994$1,8005$1,800
$1,800
RENT COMPS ANALYSIS
  • 719 W Morrow Drive Phoenix, AZ 2
    • 4 beds 2 baths ∙ 2,159 Sqft ∙ Built 1978 4 beds 2 baths ∙ 2,159 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $0.82
    •  
  • 1431 W Behrend Drive Phoenix, AZ 1
    • 4 beds 3 baths ∙ 1,850 Sqft ∙ Built 1977 4 beds 3 baths ∙ 1,850 Sqft ∙ Built 1977
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.92
    •  
  • 18841 N 2nd Avenue Phoenix, AZ 3
    • 4 beds 2 baths ∙ 1,813 Sqft ∙ Built 1994 4 beds 2 baths ∙ 1,813 Sqft ∙ Built 1994
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,799
    • $0.99
    •  
  • 18807 N 1st Avenue Phoenix, AZ 4
    • 4 beds 2 baths ∙ 1,814 Sqft ∙ Built 1995 4 beds 2 baths ∙ 1,814 Sqft ∙ Built 1995
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.99
    •  
  • 405 W Campo Bello Drive Phoenix, AZ 5
    • 3 beds 2 baths ∙ 2,066 Sqft ∙ Built 1995 3 beds 2 baths ∙ 2,066 Sqft ∙ Built 1995
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.87
    •  
PROPERTY LISTING DETAILS
Fred Delgado
Keller Williams Realty Professional Partners
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6167740
Last Updated: 12/04/2020
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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