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7308 S 28th Lane Phoenix, AZ 85041

4 Beds 3 Baths 2,375 sqft Built 2019

$400,000

List Price

$1,870

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $168.42
  • 3 Days on Market
  • MLS # : 6181389
  • Updated Date : 01/16/2021 at 22:25
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,375 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Realty Phoenix

Listing Agent's Description

Looking for a new place to call home? You've found it! Located in Phoenix's sought after community of Meridian Crossing, this 4 bed, 3 full bath property features charming curb appeal with low maintenance landscaping, a 3 car tandem garage, and much more! The lavish interior boasts an open floor plan with recessed lighting and a fabulous kitchen worthy of a chef, with its ample cabinetry, pantry, granite countertops, tile backsplash, stainless steel appliances, and island with breakfast bar. You'll love the stunning master bedroom, which offers a spacious walk-in closet and a private bath with double sinks, perfect for you and your significant other! Also including an expansive backyard with a cozy covered patio and tons of potential for customization, this home is simply a dream come true

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Laveen

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $91k271k

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

Neighborhood: Laveen

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2850900950100010501100115012001250130013501400145015001550Rent in $8471567

* 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
Bernard Black Elementary School Primary Regular 843 35 2
Bernard Black Elementary School Middle Regular 843 35 2
Cesar Chavez High School High Regular 2,575 131 3

Bernard Black Elementary School

  • Education Level: Primary
  • # of students: 843
  • # of teachers: 35
2
GreatSchools Rating

Bernard Black Elementary School

  • Education Level: Middle
  • # of students: 843
  • # of teachers: 35
2
GreatSchools Rating

Cesar Chavez High School

  • Education Level: High
  • # of students: 2,575
  • # of teachers: 131
3
GreatSchools Rating
 

$360,000$440,000$400,000

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$1,389
Property Tax -$260
Property Insurance -$73
HOA -$137
Property Management Fees -$99
CASH FLOW
-$89

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.

$400,000

PROJECTED PRICE

$1,870

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.0%
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-$5.0k$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$15,552

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,853

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7953$1,8454$1,8705$2,000
$2,000
RENT COMPS ANALYSIS
  • 7308 S 28th Lane Phoenix, AZ 4
    • 4 beds 2 baths ∙ 2,375 Sqft ∙ Built 2019 4 beds 2 baths ∙ 2,375 Sqft ∙ Built 2019
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $0.79
    •  
  • 3237 W Saint Catherine Avenue Phoenix, AZ 1
    • 3 beds 3 baths ∙ 2,452 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,452 Sqft ∙ Built 2005
    property image
    LEASED 09/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.71
    •  
  • 3310 W Latona Road Laveen, AZ 2
    • 4 beds 2 baths ∙ 2,250 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,250 Sqft ∙ Built 2004
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.80
    •  
  • 2529 W Fawn Drive Phoenix, AZ 3
    • 3 beds 3 baths ∙ 2,320 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,320 Sqft ∙ Built 2007
    property image
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.80
    •  
  • 2205 W Darrel Road Phoenix, AZ 5
    • 4 beds 2 baths ∙ 2,484 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,484 Sqft ∙ Built 2004
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.81
    •  
PROPERTY LISTING DETAILS
Stephen Horn
Keller Williams Realty Phoenix
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6181389
Last Updated: 01/16/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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