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768 E Irma Lane Phoenix, AZ 85024

4 Beds 3 Baths 2,579 sqft Built 1999

$465,000

List Price

$2,200

$2K - $2.4K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1999
  • Price/Sqft : $180.30
  • 4 Days on Market
  • MLS # : 6149478
  • Updated Date : 11/05/2020 at 02:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,579 sqft
  • Baths : 3 full
Listing Agent

Realty Executives

Listing Agent's Description

Beautifully updated light and bright home on corner lot in popular community of Arroyo Rojo, close to neighborhood park with playground, Ramada, sand volleyball, and basketball court. Large open greatroom with soaring ceilings offers an updated island kitchen, granite countertops, breakfast bar, and stainless steel appliances. A cozy casual dining area and family room look out to the covered patio and pool area. Enter through double doors to the private main level master suite which has a gorgeous updated bathroom and walk-in closet. A large stairway with updated modern railing escorts you to a bonus room with balcony overlooking pool, sunsets, and features mountain view! Also upstairs are three spacious bedrooms and full bathroom. Out back you'll enjoy the extended paver patio, lush green

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Arroyo Rojo

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k358k

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

Neighborhood: Arroyo Rojo

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9341981

* 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
Esperanza Elementary School Primary Regular 566 40 5
Deer Valley Middle School Middle Regular 616 31 5
Barry Goldwater High School High Regular 1,856 88 4

Esperanza Elementary School

  • Education Level: Primary
  • # of students: 566
  • # of teachers: 40
5
GreatSchools Rating

Deer Valley Middle School

  • Education Level: Middle
  • # of students: 616
  • # of teachers: 31
5
GreatSchools Rating

Barry Goldwater High School

  • Education Level: High
  • # of students: 1,856
  • # of teachers: 88
4
GreatSchools Rating
 

$418,500$511,500$465,000

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$1,716
Property Tax -$278
Property Insurance -$77
HOA -$39
Property Management Fees -$99
CASH FLOW
-$9

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.

$465,000

PROJECTED PRICE

$2,200

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.3%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$128,975

INVESTMENT

$128,975

Down Payment
$116,250
Rehab Estimate
$5,750
Closing Costs
$6,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,716

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $116,250
Loan Amount $348,750
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$31,154

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,200

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,444

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2503$2,2504$2,2955$2,600
$2,600
RENT COMPS ANALYSIS
  • 768 E Irma Lane Phoenix, AZ 1
    • 4 beds 3 baths ∙ 2,579 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,579 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.85
    •  
  • 1702 E Blackhawk Drive Phoenix, AZ 2
    • 4 beds 3 baths ∙ 2,248 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,248 Sqft ∙ Built 1995
    LEASED 06/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.00
    •  
  • 729 E Irma Lane Phoenix, AZ 3
    • 5 beds 3 baths ∙ 2,766 Sqft ∙ Built 1999 5 beds 3 baths ∙ 2,766 Sqft ∙ Built 1999
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.81
    •  
  • 1726 E Ross Avenue Phoenix, AZ 4
    • 4 beds 2 baths ∙ 2,425 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,425 Sqft ∙ Built 1997
    LEASED 06/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.95
    •  
  • 21020 N 16th Way Phoenix, AZ 5
    • 4 beds 3 baths ∙ 2,516 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,516 Sqft ∙ Built 1996
    LEASED 09/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.03
    •  
PROPERTY LISTING DETAILS
Chris W Kirkpatrick
Realty Executives
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6149478
Last Updated: 11/05/2020
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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