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7516 W Heatherbrae Drive Phoenix, AZ 85033

3 Beds 2 Baths 1,352 sqft Built 1978

$244,000

List Price

$1,060

$954 - $1.2K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1978
  • Price/Sqft : $180.47
  • 2 Days on Market
  • MLS # : 6157560
  • Updated Date : 11/06/2020 at 20:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,352 sqft
  • Baths : 2 full
Listing Agent

Gentry Real Estate

Listing Agent's Description

Very neat remodeled house! 3 bedroom 2 bath,2 Car garage, NEW A/C, NEW WATER HEATER JUST PAINTED, beautiful Front yard landscaping, granite counter tops, inside laundry, pantry. SHOW IT SOON BEFORE IS GONE!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Maryvale

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $74k271k

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

Neighborhood: Maryvale

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6831567

* 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
Tomahawk Elementary School Primary Regular 983 48 3
Estrella Middle School Middle Regular 1,338 55 4
Trevor Browne High School High Regular 3,077 144 3

Tomahawk Elementary School

  • Education Level: Primary
  • # of students: 983
  • # of teachers: 48
3
GreatSchools Rating

Estrella Middle School

  • Education Level: Middle
  • # of students: 1,338
  • # of teachers: 55
4
GreatSchools Rating

Trevor Browne High School

  • Education Level: High
  • # of students: 3,077
  • # of teachers: 144
3
GreatSchools Rating
 

$219,600$268,400$244,000

PURCHASE PRICE

$954$1,166$1,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,060
EXPENSES Loan Payment -$900
Property Tax -$147
Property Insurance -$54
Property Management Fees -$99
CASH FLOW
-$140

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.

$244,000

PROJECTED PRICE

$1,060

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 13.8%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$70,410

INVESTMENT

$70,410

Down Payment
$61,000
Rehab Estimate
$5,750
Closing Costs
$3,660

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$900

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,000
Loan Amount $183,000
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$6,790

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,060

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,112

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,025
1$1,0252$1,0603$1,0954$1,1495$1,200
$1,200
RENT COMPS ANALYSIS
  • 7516 W Heatherbrae Drive Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1978
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,060
    • $0.78
    •  
  • 4102 N 69th Lane #1407 Phoenix, AZ 1
    • 3 beds 3 baths ∙ 1,264 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,264 Sqft ∙ Built 1984
    property image
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,025
    • $0.81
    •  
  • 7728 W Reade Avenue Glendale, AZ 3
    • 3 beds 1 baths ∙ 1,401 Sqft ∙ Built 1972 3 beds 1 baths ∙ 1,401 Sqft ∙ Built 1972
    property image
    LEASED 09/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,095
    • $0.78
    •  
  • 7141 W Westview Drive Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1971
    property image
    LEASED 03/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,149
    • $0.85
    •  
  • 7507 W Roma Avenue Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,404 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,404 Sqft ∙ Built 1978
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.85
    •  
PROPERTY LISTING DETAILS
Leticia Anchondo
Gentry Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6157560
Last Updated: 11/06/2020
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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