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7460 S 31st Place Phoenix, AZ 85042

3 Beds 3 Baths 1,538 sqft Built 2007

$255,000

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 16, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $165.80
  • 7 Days on Market
  • MLS # : 6161066
  • Updated Date : 11/21/2020 at 18:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,538 sqft
  • Baths : 2 full , 1 half
Listing Agent

Arizona Elite Properties

Listing Agent's Description

BEAUTIFUL 3 BEDROOM, 2.5 BATH HOME,, GRANITE COUNTERS IN KITCHEN, END UNIT THAT OVERLOOKS PRESERVE/ GREENBELT. CENTRAL LOCATION!!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Hunter Ridge Condominiums

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $79k358k

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

Neighborhood: Hunter Ridge Condominiums

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600170018001900Rent in $7831981

* 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
T.g. Barr School Primary Regular 516 29 2
T.g. Barr School Middle Regular 516 29 2
South Mountain High School High Regular 1,706 102 2

T.g. Barr School

  • Education Level: Primary
  • # of students: 516
  • # of teachers: 29
2
GreatSchools Rating

T.g. Barr School

  • Education Level: Middle
  • # of students: 516
  • # of teachers: 29
2
GreatSchools Rating

South Mountain High School

  • Education Level: High
  • # of students: 1,706
  • # of teachers: 102
2
GreatSchools Rating
 

$229,500$280,500$255,000

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$941
Property Tax -$166
Property Insurance -$57
HOA -$250
Property Management Fees -$99
CASH FLOW
$77

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.

$255,000

PROJECTED PRICE

$1,590

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 7.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$941

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$21,100

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
  • $1,584

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,4503$1,5504$1,5955$1,625
$1,625
RENT COMPS ANALYSIS
  • 7460 S 31st Place Phoenix, AZ 1
    • 3 beds 3 baths ∙ 1,538 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,538 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2844 E Dunbar Drive Phoenix, AZ 2
    • 3 beds 3 baths ∙ 1,538 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,538 Sqft ∙ Built 2006
    property image
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.94
    •  
  • 7522 S 30th Run Phoenix, AZ 3
    • 3 beds 3 baths ∙ 1,439 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,439 Sqft ∙ Built 2007
    property image
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.08
    •  
  • 3136 E Donner Drive Phoenix, AZ 4
    • 3 beds 3 baths ∙ 1,538 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,538 Sqft ∙ Built 2007
    property image
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.04
    •  
  • 2960 E Darrow Street Phoenix, AZ 5
    • 3 beds 3 baths ∙ 1,538 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,538 Sqft ∙ Built 2006
    property image
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.06
    •  
PROPERTY LISTING DETAILS
Brianna Foley
Arizona Elite Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6161066
Last Updated: 11/21/2020
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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