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8049 N 16th Avenue Phoenix, AZ 85021

4 Beds 4 Baths 2,576 sqft Built 1958

$730,000

List Price

$2,610

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1958
  • Price/Sqft : $283.39
  • 4 Days on Market
  • MLS # : 6184922
  • Updated Date : 01/29/2021 at 16:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,576 sqft
  • Baths : 4 full
Listing Agent

Realty One Group

Listing Agent's Description

Location, location, location! This impressive, single level property is nestled in the Royal Palm Neighborhood and is walking distance to Royal Palm Park, a 30 acre park. Step inside this beauty to find a remodeled, open concept interior complete w/living and dining area, luxurious lighting, French doors, and dreamy wood-like tile. The impressive eat-in kitchen is a dream come true for any home chef, offering high-end appliances, beautiful back-splash, breakfast bar, and gleaming counter-tops. Inside the master suite, you will find a sitting room w/private exit and an office, lavish bathroom with dual sinks, step-in shower, walk-in closet, and tub w/jets. Enjoy your gatherings in this large gorgeous yard with flood irrigation, a fenced pool, and mature tree's and grass area.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Suburban Heights

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $83k483k

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

Neighborhood: Suburban Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900200021002200Rent in $8622263

* 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
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

Sunnyslope High School

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

$657,000$803,000$730,000

PURCHASE PRICE

$2,349$2,871$2,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,610
EXPENSES Loan Payment -$2,536
Property Tax -$436
Property Insurance -$77
Property Management Fees -$99
CASH FLOW
-$537

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.

$730,000

PROJECTED PRICE

$2,610

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 7.1%
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$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$199,200

INVESTMENT

$199,200

Down Payment
$182,500
Rehab Estimate
$5,750
Closing Costs
$10,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,536

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $182,500
Loan Amount $547,500
See What Happens When You Reinvest Cash Flow

1.75

YEARS SAVED

$8,322

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,610

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $2,937

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$2,610
1$2,6102$2,8953$3,0004$3,0005$3,300
$3,300
RENT COMPS ANALYSIS
  • 8049 N 16th Avenue Phoenix, AZ 1
    • 4 beds 4 baths ∙ 2,576 Sqft ∙ Built 1958 4 beds 4 baths ∙ 2,576 Sqft ∙ Built 1958
    • Rent
    • Rent Per SQFT
    •  
    • $2,610
    • $1.01
    •  
  • 215 W El Caminito Drive Phoenix, AZ 2
    • 4 beds 3 baths ∙ 2,893 Sqft ∙ Built 1971 4 beds 3 baths ∙ 2,893 Sqft ∙ Built 1971
    LEASED 07/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,895
    • $1.00
    •  
  • 1417 W Myrtle Avenue Phoenix, AZ 3
    • 5 beds 3 baths ∙ 2,439 Sqft ∙ Built 1954 5 beds 3 baths ∙ 2,439 Sqft ∙ Built 1954
    LEASED 01/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.23
    •  
  • 7802 N 5th Avenue Phoenix, AZ 4
    • 5 beds 3 baths ∙ 2,609 Sqft ∙ Built 1974 5 beds 3 baths ∙ 2,609 Sqft ∙ Built 1974
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.15
    •  
  • 20 E Northview Avenue Phoenix, AZ 5
    • 4 beds 3 baths ∙ 2,805 Sqft ∙ Built 1954 4 beds 3 baths ∙ 2,805 Sqft ∙ Built 1954
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.18
    •  
PROPERTY LISTING DETAILS
Lindsay A Mozena
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6184922
Last Updated: 01/29/2021
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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