Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

8002 N 11th Avenue Phoenix, AZ 85021

3 Beds 3 Baths 2,357 sqft Built 1953

$600,000

List Price

$2,340

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1953
  • Price/Sqft : $254.56
  • 4 Days on Market
  • MLS # : 6156519
  • Updated Date : 11/05/2020 at 11:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,357 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homesmart

Listing Agent's Description

Come see this charming red brick mid-century Ranch on a huge irrigated corner lot, just shy of .6 of an acre. It's been in the same family for over 60 years and lovingly maintained over that time. Perfectly livable as is, but a wonderful candidate for upgrades and expansion as well - the neighborhood top end values support a significant investment. The original 3 BR, 2 BA layout had a 2001 addition of a family room, laundry and half bath (fully permitted). The Royal Palms neighborhood is notable for its lush expansive lots, and 11th Ave is its landmark street lined with palm trees along the median. It's a very short walk to Royal Palm Park, and a short bike ride to miles of bike paths along the canal system. This is your chance to own a piece of Phoenix history!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: North Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $88k271k

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

Neighborhood: North Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8821567

* 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
Richard E. Miller Elementary School Primary Regular 569 26 4
Royal Palm Middle School Middle Regular 725 41 3
Sunnyslope High School High Regular 2,064 88 6

Richard E. Miller Elementary School

  • Education Level: Primary
  • # of students: 569
  • # of teachers: 26
4
GreatSchools Rating

Royal Palm Middle School

  • Education Level: Middle
  • # of students: 725
  • # of teachers: 41
3
GreatSchools Rating

Sunnyslope High School

  • Education Level: High
  • # of students: 2,064
  • # of teachers: 88
6
GreatSchools Rating
 

$540,000$660,000$600,000

PURCHASE PRICE

$2,106$2,574$2,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,340
EXPENSES Loan Payment -$2,214
Property Tax -$358
Property Insurance -$73
Property Management Fees -$99
CASH FLOW
-$404

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$600,000

PROJECTED PRICE

$2,340

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 8.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
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$20k

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$164,750

INVESTMENT

$164,750

Down Payment
$150,000
Rehab Estimate
$5,750
Closing Costs
$9,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,214

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $150,000
Loan Amount $450,000
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$12,960

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,340

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $2,604

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,3003$2,3404$2,4005$3,000
$3,000
RENT COMPS ANALYSIS
  • 8002 N 11th Avenue Phoenix, AZ 3
    • 3 beds 3 baths ∙ 2,357 Sqft ∙ Built 1953 3 beds 3 baths ∙ 2,357 Sqft ∙ Built 1953
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,340
    • $0.99
    •  
  • 7529 N 8th Avenue Phoenix, AZ 1
    • 3 beds 3 baths ∙ 2,122 Sqft ∙ Built 1956 3 beds 3 baths ∙ 2,122 Sqft ∙ Built 1956
    property image
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.03
    •  
  • 8020 N 17th Drive Phoenix, AZ 2
    • 4 beds 2 baths ∙ 2,271 Sqft ∙ Built 1966 4 beds 2 baths ∙ 2,271 Sqft ∙ Built 1966
    property image
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.01
    •  
  • 912 W Frier Drive Phoenix, AZ 4
    • 3 beds 3 baths ∙ 2,011 Sqft ∙ Built 1957 3 beds 3 baths ∙ 2,011 Sqft ∙ Built 1957
    property image
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.19
    •  
  • 8909 N 13th Avenue Phoenix, AZ 5
    • 4 beds 2 baths ∙ 2,524 Sqft ∙ Built 1965 4 beds 2 baths ∙ 2,524 Sqft ∙ Built 1965
    property image
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.19
    •  
PROPERTY LISTING DETAILS
Thomas P Bryant
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6156519
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.

BESbswy