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7507 S 15th Lane Phoenix, AZ 85041

3 Beds 2 Baths 1,786 sqft Built 2004

$290,000

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $162.37
  • 2 Days on Market
  • MLS # : 6163298
  • Updated Date : 11/20/2020 at 17:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,786 sqft
  • Baths : 2 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

3 bedrooms plus a den. Ceramic tile in family room, kitchen and hallways. Wood Scraped Plank Porcelain Tile in all the bedrooms. Kitchen features upgraded maple cabinets, oversized island with counter height seating, and eat in kitchen w/bay window overlooking backyard. Split floor plan, master has large walk in closet and exit door to patio. Great room floor plan is open with vaulted ceiling. Huge backyard, and oversized covered patio. RV gate, plus 2 foot extended driveway slab. Home is perfectly located with easy access to freeway and only 6 miles from downtown.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Estates at Baseline

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: Estates at Baseline

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8621567

* 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
Ignacio Conchos School Primary Regular 413 22 3
Ignacio Conchos School Middle Regular 413 22 3
Cesar Chavez High School High Regular 2,575 131 3

Ignacio Conchos School

  • Education Level: Primary
  • # of students: 413
  • # of teachers: 22
3
GreatSchools Rating

Ignacio Conchos School

  • Education Level: Middle
  • # of students: 413
  • # of teachers: 22
3
GreatSchools Rating

Cesar Chavez High School

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

$261,000$319,000$290,000

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$1,070
Property Tax -$189
Property Insurance -$62
HOA -$12
Property Management Fees -$99
CASH FLOW
-$31

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.

$290,000

PROJECTED PRICE

$1,400

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 9.0%
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-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$17,824

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,581

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4003$1,4954$1,4955$1,575
$1,575
RENT COMPS ANALYSIS
  • 7507 S 15th Lane Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,786 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,786 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.78
    •  
  • 6638 S 18th Lane Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,675 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,675 Sqft ∙ Built 2003
    LEASED 12/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.83
    •  
  • 1723 W St Catherine Avenue Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,675 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,675 Sqft ∙ Built 2003
    LEASED 12/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.89
    •  
  • 1636 W Dunbar Drive Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,598 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,598 Sqft ∙ Built 2002
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.94
    •  
  • 7017 S 7th Lane Phoenix, AZ 5
    • 3 beds 3 baths ∙ 1,796 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,796 Sqft ∙ Built 2007
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.88
    •  
PROPERTY LISTING DETAILS
Robert C Ito
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6163298
Last Updated: 11/20/2020
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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