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7230 N 17th Avenue Phoenix, AZ 85021

3 Beds 3 Baths 1,700 sqft Built 1955

$365,000

List Price

$1,460

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $214.71
  • 4 Days on Market
  • MLS # : 6162400
  • Updated Date : 11/19/2020 at 11:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,700 sqft
  • Baths : 2 full , 1 half
Listing Agent

Premier Real Estate Opportunities

Listing Agent's Description

Impressive corner lot property with huge front porch, ideal for relaxing afternoons. Step into this highly upgraded, move in ready interior featuring 3 beds, 2.5 bath, a bonus space off kitchen, huge living/dining area and so much natural light throughout the house. The gourmet eat-in kitchen is a cook's delight with beautiful pendant/recessed lighting, granite counter-tops, large island, back-splash, built in desk and new appliances. Unique master suite includes a sliding-door closet and spotless full bath with walk-in tub. Spacious backyard with covered patio and 2 storage sheds is ready to make it your own. Brand new items: hot water heater, microwave, dishwasher, disposal, carpet, paint, blinds, smoke detectors. Newer items include: AC, Kitchen, windows. Don't miss this one!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Westwood Heights

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k285k

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

Neighborhood: Westwood Heights

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
Orangewood Elementary School Primary Regular 1,016 48 4
Orangewood Elementary School Middle Regular 1,016 48 4
Washington High School High Regular 1,714 73 4

Orangewood Elementary School

  • Education Level: Primary
  • # of students: 1,016
  • # of teachers: 48
4
GreatSchools Rating

Orangewood Elementary School

  • Education Level: Middle
  • # of students: 1,016
  • # of teachers: 48
4
GreatSchools Rating

Washington High School

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

$328,500$401,500$365,000

PURCHASE PRICE

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$1,347
Property Tax -$218
Property Insurance -$60
Property Management Fees -$99
CASH FLOW
-$264

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.

$365,000

PROJECTED PRICE

$1,460

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 7.1%
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-$6.0k-$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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$102,475

INVESTMENT

$102,475

Down Payment
$91,250
Rehab Estimate
$5,750
Closing Costs
$5,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,347

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $91,250
Loan Amount $273,750
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$6,532

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,585

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,345
1$1,3452$1,4603$1,5954$1,6005$1,750
$1,750
RENT COMPS ANALYSIS
  • 7230 N 17th Avenue Phoenix, AZ 2
    • 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 1955 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $0.86
    •  
  • 2021 W Gardenia Drive Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 1959
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,345
    • $0.87
    •  
  • 1814 W Vista Avenue Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,669 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,669 Sqft ∙ Built 1954
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.96
    •  
  • 6837 N 8th Avenue Phoenix, AZ 4
    • 3 beds 3 baths ∙ 1,712 Sqft ∙ Built 1955 3 beds 3 baths ∙ 1,712 Sqft ∙ Built 1955
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.93
    •  
  • 1801 W Morten Avenue Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,808 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,808 Sqft ∙ Built 1955
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.97
    •  
PROPERTY LISTING DETAILS
Kristen Hekekia
Premier Real Estate Opportunities
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6162400
Last Updated: 11/19/2020
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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