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7529 N 23rd Street Phoenix, AZ 85020

3 Beds 2 Baths 1,961 sqft Built 1971

$585,000

List Price

$2,390

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 1971
  • Price/Sqft : $298.32
  • 3 Days on Market
  • MLS # : 6154889
  • Updated Date : 11/01/2020 at 15:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,961 sqft
  • Baths : 2 full
Listing Agent

North & Co

Listing Agent's Description

Looking for an elevated hillside lot with city lights & mountain views in Madison School district... this is the house for you! Take in beautiful sunsets from this perfectly perched 4 bedroom home on a spacious 18k+ lot w Phoenix Mtn Preserve backdrop. Move in ready or renovate to your needs. Proposed plans & survey available. Just a short walk or bike ride to local farmers markets, fine dining and local eateries like Chelsea's, North, The Vig and countless other favorite hot spots. Enjoy Biltmore shopping & fine dining along w quick access to freeways, the airport, downtown Phoenix & 22 miles of hiking, biking and horseback riding on Piestewa Peak & Phoenix Preserve. Washer/Dryer included.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Biltmore Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450k500k550k600kPrice in $91k631k

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

Neighborhood: Biltmore Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600Rent in $9342743

* 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
Madison Heights Elementary School Primary Regular 538 30 8
Madison 1 Middle School Middle Regular 923 50 7
Camelback High School High Regular 2,048 110 4

Madison Heights Elementary School

  • Education Level: Primary
  • # of students: 538
  • # of teachers: 30
8
GreatSchools Rating

Madison 1 Middle School

  • Education Level: Middle
  • # of students: 923
  • # of teachers: 50
7
GreatSchools Rating

Camelback High School

  • Education Level: High
  • # of students: 2,048
  • # of teachers: 110
4
GreatSchools Rating
 

$526,500$643,500$585,000

PURCHASE PRICE

$2,151$2,629$2,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,390
EXPENSES Loan Payment -$2,158
Property Tax -$453
Property Insurance -$65
Property Management Fees -$99
CASH FLOW
-$386

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.

$585,000

PROJECTED PRICE

$2,390

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 9.1%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$160,775

INVESTMENT

$160,775

Down Payment
$146,250
Rehab Estimate
$5,750
Closing Costs
$8,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,158

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $146,250
Loan Amount $438,750
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$10,474

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
  • $2,392

    COMP ESTIMATED VALUE
  • $1.22

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,2003$2,2004$2,5995$2,800
$2,800
RENT COMPS ANALYSIS
  • 7529 N 23rd Street Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,961 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,961 Sqft ∙ Built 1971
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 6833 N 24th Place Phoenix, AZ 2
    • 3 beds 2 baths ∙ 2,115 Sqft ∙ Built 1968 3 beds 2 baths ∙ 2,115 Sqft ∙ Built 1968
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.04
    •  
  • 1809 E Harmont Drive Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,844 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,844 Sqft ∙ Built 1979
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.19
    •  
  • 6842 N 24th Place Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,895 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,895 Sqft ∙ Built 1968
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,599
    • $1.37
    •  
  • 8423 N 16th Place Phoenix, AZ 5
    • 4 beds 3 baths ∙ 2,186 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,186 Sqft ∙ Built 1977
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.28
    •  
PROPERTY LISTING DETAILS
Heather Wilson
North & Co
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6154889
Last Updated: 11/01/2020
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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