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738 E Rosemonte Drive #---> Phoenix, AZ 85024

3 Beds 3 Baths 1,536 sqft Built 1992

$300,000

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1992
  • Price/Sqft : $195.31
  • 2 Days on Market
  • MLS # : 6157638
  • Updated Date : 11/07/2020 at 18:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,536 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty Executives

Listing Agent's Description

clean Clean CLEAN place in the secluded FALLBROOK Community off 7ST/UNION HILLs Great location Home Backs to Common Area! 1 mi. to loop 101, 3mi. to Desert Ridge Immaculate condition Community pool & spa just 25 yrds off your back gate. Large ceramic tile in KT DR BATHS & LAUNDRY Spacesaver microwave in Kitchen. Bay windows in dining and Mast.BR lots of plant shelves Master suite has seperate entrance to private balcony that overlooks lovely common area and northern exposure.Two full baths upstairs,1/2 down,large bedrooms.Grass bkyrd.for kids.Great area and schools.Your client will be proud to rent. 2' Wood blinds. Serene Neighborhood Vaulted ceilings, MBA has separate shower & platform tub.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Fallbrook

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: Fallbrook

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7911567

* 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
Eagle Ridge Elementary School Primary Regular 581 41 5
Mountain Trail Middle School Middle Regular 714 29 7
North Canyon High School High Regular 1,957 86 4

Eagle Ridge Elementary School

  • Education Level: Primary
  • # of students: 581
  • # of teachers: 41
5
GreatSchools Rating

Mountain Trail Middle School

  • Education Level: Middle
  • # of students: 714
  • # of teachers: 29
7
GreatSchools Rating

North Canyon High School

  • Education Level: High
  • # of students: 1,957
  • # of teachers: 86
4
GreatSchools Rating
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$1,107
Property Tax -$189
Property Insurance -$57
HOA -$59
Property Management Fees -$99
CASH FLOW
$99

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.

$300,000

PROJECTED PRICE

$1,610

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 5.9%
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$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$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$31,113

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
  • $1,605

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,5453$1,6954$1,6955$1,845
$1,845
RENT COMPS ANALYSIS
  • 738 E Rosemonte Drive #---> Phoenix, AZ 1
    • 3 beds 3 baths ∙ 1,536 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,536 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 802 E Rosemonte Drive Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,567 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,567 Sqft ∙ Built 1992
    LEASED 09/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $0.99
    •  
  • 19033 N 6th Street Phoenix, AZ 3
    • 3 beds 3 baths ∙ 1,585 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,585 Sqft ∙ Built 1986
    LEASED 02/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.07
    •  
  • 513 E Wescott Drive Phoenix, AZ 4
    • 3 beds 3 baths ∙ 1,656 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,656 Sqft ∙ Built 1987
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.02
    •  
  • 526 E Utopia Road Phoenix, AZ 5
    • 3 beds 3 baths ∙ 1,680 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,680 Sqft ∙ Built 1987
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $1.10
    •  
PROPERTY LISTING DETAILS
Brian G Bouterie
Realty Executives
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6157638
Last Updated: 11/07/2020
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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