Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

7231 N 22nd Drive Phoenix, AZ 85021

3 Beds 2 Baths 1,502 sqft Built 1957

$330,000

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1957
  • Price/Sqft : $219.71
  • 2 Days on Market
  • MLS # : 6173047
  • Updated Date : 12/19/2020 at 15:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,502 sqft
  • Baths : 2 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

Welcome to the North Phoenix Gem! The stunning home with lovely curb appeal is bright & completely remodeled offering 3 bedrooms, 2 bathrooms, a single carport, RV Parking with NO HOA. The beautifully appointed home highlights the following updates: New flooring throughout, New exterior doors, hardware and paint; Large inside Laundry Room with cabinets, modern & custom bathroom showers, tile, cabinets, countertops and accessories. A new Kitchen, huge walk-in pantry, cabinets, granite countertops with Stainless Steel appliances, and recessed high efficiency lighting. Call for an appointment today!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Alhambra

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: Alhambra

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7781567

* 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
 

$297,000$363,000$330,000

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$1,218
Property Tax -$197
Property Insurance -$56
Property Management Fees -$99
CASH FLOW
-$20

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.

$330,000

PROJECTED PRICE

$1,550

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 9.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$93,200

INVESTMENT

$93,200

Down Payment
$82,500
Rehab Estimate
$5,750
Closing Costs
$4,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,218

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,500
Loan Amount $247,500
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$22,319

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
  • $1,652

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,5503$1,5954$1,5955$1,675
$1,675
RENT COMPS ANALYSIS
  • 7231 N 22nd Drive Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1957
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2233 W Belmont Avenue Phoenix, AZ 2
    • 3 beds 1 baths ∙ 1,375 Sqft ∙ Built 1955 3 beds 1 baths ∙ 1,375 Sqft ∙ Built 1955
    LEASED 10/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.13
    •  
  • 6521 N 19th Drive Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,395 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,395 Sqft ∙ Built 1957
    LEASED 02/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.14
    •  
  • 1814 W Vista Avenue Phoenix, AZ 4
    • 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
    •  
  • 7709 N 18th Avenue Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,429 Sqft ∙ Built 1966 3 beds 2 baths ∙ 1,429 Sqft ∙ Built 1966
    LEASED 04/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.17
    •  
PROPERTY LISTING DETAILS
Laura Bastien
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6173047
Last Updated: 12/19/2020
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.

BESbswy