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7308 N 22nd Drive Phoenix, AZ 85021

4 Beds 2 Baths 1,757 sqft Built 1958

$345,000

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1958
  • Price/Sqft : $196.36
  • 5 Days on Market
  • MLS # : 6186281
  • Updated Date : 01/29/2021 at 18:08
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,757 sqft
  • Baths : 1 full , 1 half
Listing Agent

Homie

Listing Agent's Description

Beautiful remodeled 4 bedroom 1.75 bathroom home with an additional bonus room. New AC installed 2 years ago, new water heater this year. Everything is updated! Granite counter tops and all stainless steel appliances with a dishwasher recently added. Large grass front and backyard fully landscaped. A mature pomegranate and orange tree are in the backyardTENANTS CURRENTLY IN PLACE AND WILLING TO STAY LONG TERM IF PURCHASED BY AN INVESTOR

SEE MORE

PRICE & RENT TRENDS

Neighborhood: New Castle Homes

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: New Castle Homes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500Rent in $8201567

* 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
Washington High School High Regular 1,714 73 4

Washington High School

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

$310,500$379,500$345,000

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$1,198
Property Tax -$206
Property Insurance -$61
Property Management Fees -$99
CASH FLOW
-$25

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.

$345,000

PROJECTED PRICE

$1,540

PROJECTED RENT

0.45%

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$1.2M

PROJECTED ANNUAL CASH FLOW

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

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$97,175

INVESTMENT

$97,175

Down Payment
$86,250
Rehab Estimate
$5,750
Closing Costs
$5,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,198

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $86,250
Loan Amount $258,750
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$18,581

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
  • $1,726

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,4953$1,5004$1,5955$1,850
$1,850
RENT COMPS ANALYSIS
  • 7308 N 22nd Drive Phoenix, AZ 1
    • 4 beds 2 baths ∙ 1,757 Sqft ∙ Built 1958 4 beds 2 baths ∙ 1,757 Sqft ∙ Built 1958
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 7327 N 23rd Drive Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,647 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,647 Sqft ∙ Built 1967
    LEASED 10/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.91
    •  
  • 2615 W Augusta Avenue #1 Phoenix, AZ 3
    • 3 beds 1 baths ∙ 1,630 Sqft ∙ Built 1954 3 beds 1 baths ∙ 1,630 Sqft ∙ Built 1954
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.92
    •  
  • 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
    •  
  • 1801 W Morten Avenue Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,628 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,628 Sqft ∙ Built 1955
    LEASED 01/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.14
    •  
PROPERTY LISTING DETAILS
Daryl R Snow
Homie
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6186281
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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