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7524 S 13th Place Phoenix, AZ 85042

3 Beds 3 Baths 1,740 sqft Built 2003

$304,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $174.71
  • 2 Days on Market
  • MLS # : 6200016
  • Updated Date : 02/27/2021 at 00:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,740 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty Executives

Listing Agent's Description

Nice Baseline corridor home in Heather Grove gated community. Open floor plan includes large family room, loft, new paint, new carpet and new blinds. The kitchen features a walk-in pantry, light oak cabinets & stainless appliances including a new stove. Main bedroom features a large walk-in closet, separate shower & tub & double sinks. Upstairs laundry. All bedrooms have walk in closets & ceiling fans, Covered patio. Close to downtown Phoenix, airport, freeways, shopping and restaurants.

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
John F. Kennedy Elementary School Primary Regular 530 39 2
South Mountain High School High Regular 1,706 102 2
Phoenix Coding Academy High Unknown NA

John F. Kennedy Elementary School

  • Education Level: Primary
  • # of students: 530
  • # of teachers: 39
2
GreatSchools Rating

South Mountain High School

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

Phoenix Coding Academy

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$273,600$334,400$304,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$1,056
Property Tax -$198
Property Insurance -$61
HOA -$40
Property Management Fees -$99
CASH FLOW
$146

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.

$304,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.53%

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$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$86,310

INVESTMENT

$86,310

Down Payment
$76,000
Rehab Estimate
$5,750
Closing Costs
$4,560

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,056

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $76,000
Loan Amount $228,000
See What Happens When You Reinvest Cash Flow

7.75

YEARS SAVED

$30,737

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,757

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,7003$1,8004$1,8955$2,000
$2,000
RENT COMPS ANALYSIS
  • 7524 S 13th Place Phoenix, AZ 1
    • 3 beds 3 baths ∙ 1,740 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,740 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.92
    •  
  • 821 E Constance Way Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 2016
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.98
    •  
  • 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
Evan Anderson
Realty Executives
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6200016
Last Updated: 02/27/2021
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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