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720 E Desert Lane Phoenix, AZ 85042

4 Beds 2 Baths 1,400 sqft Built 1950

$269,995

List Price

$1,210

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1950
  • Price/Sqft : $192.85
  • 3 Days on Market
  • MLS # : 6187184
  • Updated Date : 01/29/2021 at 14:20
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,400 sqft
  • Baths : 2 full
Listing Agent

The John Samuels Agency

Listing Agent's Description

Beautiful fully remodeled 4/2 in Phoenix priced to sell! This beautiful property has a nice contemporary open concept floor plan. The amenities include stainless steel appliances, granite counter tops, and tile showers. This home has a large two vehicle slab parking. In addition, property includes a patio with a spacious back yard perfect for entertaining family or friends. Property is close to dining, shopping, schools, and is easily accessible to the I-10 freeways. Don't miss out on this opportunity.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Alto Desierto

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $79k271k

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

Neighborhood: Alto Desierto

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7321567

* 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
South Mountain High School High Regular 1,706 102 2
Phoenix Coding Academy High Unknown NA
Phoenix Coding Academy High Regular NA

South Mountain High School

  • Education Level: High
  • # of students: 1,706
  • # of teachers: 102
2
GreatSchools Rating

Phoenix Coding Academy

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Phoenix Coding Academy

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$242,996$296,995$269,995

PURCHASE PRICE

$1,089$1,331$1,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,210
EXPENSES Loan Payment -$938
Property Tax -$176
Property Insurance -$55
Property Management Fees -$99
CASH FLOW
-$57

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.

$269,995

PROJECTED PRICE

$1,210

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 9.1%
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

PROJECTED ANNUAL CASH FLOW

11530-$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$77,299

INVESTMENT

$77,299

Down Payment
$67,499
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$938

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,499
Loan Amount $202,496
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$11,501

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
  • $1,463

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,3503$1,495
$1,495
RENT COMPS ANALYSIS
  • 720 E Desert Lane Phoenix, AZ 1
    • 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1950 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1950
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1332 E La Salle Street Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,150 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,150 Sqft ∙ Built 1959
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.17
    •  
  • 6219 S 7th Avenue Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,622 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,622 Sqft ∙ Built 1948
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.92
    •  
PROPERTY LISTING DETAILS
Preston Royce
The John Samuels Agency
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6187184
Last Updated: 01/29/2021
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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