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7506 S 13th Place Phoenix, AZ 85042

3 Beds 3 Baths 1,947 sqft Built 2003

$309,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $158.71
  • 3 Days on Market
  • MLS # : 6184491
  • Updated Date : 01/22/2021 at 23:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,947 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homesmart

Listing Agent's Description

GATED COMMUNITY! Great 3br 2.5 bath 1900 sq. ft. 2 story Home! Huge kitchen/dining room with large walk in pantry! This could also be an informal dining room, family room plus living room or formal dining. Sliding patio door off Kit/DR to awesome pebble tec play pool, back yard with covered patio and the afternoon sun! Large Master Bedroom and 2 other bedrooms on 2nd floor with a huge loft for media room, office or playroom. This area has easy access to shopping, resturants, downtown Phoenix and airport. New AC 2020! At this time, until the owners find and secure a home to purchase, there is, up to a 60 day's the sellers have to move out contingengy presently, a condition of this sale! See private remarks for showing times!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Heather Grove

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $78k271k

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

Neighborhood: Heather Grove

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500Rent in $8031567

* 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
C.o. Greenfield School Primary Regular 581 33 3
C.o. Greenfield School Middle Regular 581 33 3
South Mountain High School High Regular 1,706 102 2

C.o. Greenfield School

  • Education Level: Primary
  • # of students: 581
  • # of teachers: 33
3
GreatSchools Rating

C.o. Greenfield School

  • Education Level: Middle
  • # of students: 581
  • # of teachers: 33
3
GreatSchools Rating

South Mountain High School

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

$278,100$339,900$309,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,073
Property Tax -$201
Property Insurance -$65
HOA -$40
Property Management Fees -$99
CASH FLOW
$221

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.

$309,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 9.1%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,635

INVESTMENT

$87,635

Down Payment
$77,250
Rehab Estimate
$5,750
Closing Costs
$4,635

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,073

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,250
Loan Amount $231,750
See What Happens When You Reinvest Cash Flow

9.17

YEARS SAVED

$38,900

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,928

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7493$1,8004$1,8955$2,000
$2,000
RENT COMPS ANALYSIS
  • 7506 S 13th Place Phoenix, AZ 1
    • 3 beds 3 baths ∙ 1,947 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,947 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.87
    •  
  • 7061 S 14th Street Phoenix, AZ 2
    • 4 beds 2 baths ∙ 1,944 Sqft ∙ Built 1987 4 beds 2 baths ∙ 1,944 Sqft ∙ Built 1987
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,749
    • $0.90
    •  
  • 1426 E Maldonado Drive Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,867 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,867 Sqft ∙ Built 2000
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.96
    •  
  • 1432 E Branham Lane Phoenix, AZ 4
    • 3 beds 3 baths ∙ 1,806 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,806 Sqft ∙ Built 2006
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.05
    •  
  • 1514 E Gary Way Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 2005
    LEASED 01/09/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.05
    •  
PROPERTY LISTING DETAILS
Bradley F Hall
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6184491
Last Updated: 01/22/2021
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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