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7939 W Lumbee Street Phoenix, AZ 85043

3 Beds 2 Baths 1,318 sqft Built 2004

$274,900

List Price

$1,060

$954 - $1.2K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $208.57
  • 4 Days on Market
  • MLS # : 6192664
  • Updated Date : 02/13/2021 at 05:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,318 sqft
  • Baths : 2 full
Listing Agent

Watkins Real Estate

Listing Agent's Description

This house is spacious in the design, great back yard, fresh paint very well cared , close to I 10 and access to everything.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Cordova Estates

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $73k271k

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

Neighborhood: Cordova Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7671567

* 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
Sun Canyon Elementary School Primary Regular 605 31 4
Santa Maria Middle School Middle Regular 700 33 3
Sierra Linda High School High Regular 1,883 72 1

Sun Canyon Elementary School

  • Education Level: Primary
  • # of students: 605
  • # of teachers: 31
4
GreatSchools Rating

Santa Maria Middle School

  • Education Level: Middle
  • # of students: 700
  • # of teachers: 33
3
GreatSchools Rating

Sierra Linda High School

  • Education Level: High
  • # of students: 1,883
  • # of teachers: 72
1
GreatSchools Rating
 

$247,410$302,390$274,900

PURCHASE PRICE

$954$1,166$1,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,060
EXPENSES Loan Payment -$955
Property Tax -$159
Property Insurance -$53
HOA -$60
Property Management Fees -$99
CASH FLOW
-$266

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.

$274,900

PROJECTED PRICE

$1,060

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 8.2%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,599

INVESTMENT

$78,599

Down Payment
$68,725
Rehab Estimate
$5,750
Closing Costs
$4,124

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,725
Loan Amount $206,175
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$1,280

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
  • $0.8

    LIST RENT PER SQFT
  • $1,160

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,060
1$1,0602$1,3953$1,3954$1,3955$1,399
$1,399
RENT COMPS ANALYSIS
  • 7939 W Lumbee Street Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,318 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,318 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,060
    • $0.80
    •  
  • 9007 W Hess Street Tolleson, AZ 2
    • 4 beds 2 baths ∙ 1,604 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,604 Sqft ∙ Built 2004
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.87
    •  
  • 2815 S 74th Drive Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,527 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,527 Sqft ∙ Built 2007
    property image
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.91
    •  
  • 8913 W Hess Street Tolleson, AZ 4
    • 3 beds 2 baths ∙ 1,604 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,604 Sqft ∙ Built 2004
    property image
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.87
    •  
  • 8352 W Crown King Road Tolleson, AZ 5
    • 4 beds 2 baths ∙ 1,602 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,602 Sqft ∙ Built 2005
    property image
    LEASED 11/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $0.87
    •  
PROPERTY LISTING DETAILS
Ralph Watkins
Watkins Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6192664
Last Updated: 02/13/2021
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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