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8050 N 11th Place Phoenix, AZ 85020

4 Beds 2 Baths 1,900 sqft Built 1954

$350,000

List Price

$1,840

$1.7K - $2K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1954
  • Price/Sqft : $184.21
  • 2 Days on Market
  • MLS # : 6157621
  • Updated Date : 11/07/2020 at 02:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,900 sqft
  • Baths : 2 full
Listing Agent

Queenie

Listing Agent's Description

Charming mid-century home, centrally located and near shopping including Biltmore Fashion Park. Close to uptown Phoenix, SR-51 and hiking trails and, just 15 minutes to Sky Harbor Airport. Quiet neighborhood in the top-rated Sunnyslope High School boundary. New roof, carpet, blinds and paint inside and out. Updated fixtures. Fireplace and Spanish tile floors in the living room, kitchen/dining area, hallway and bathrooms. Ceiling fans throughout and updated windows. Large family room perfect for entertaining. Back Bedroom has a separate entrance, perfect for young adult, guest room, Air BnB, etc. Move-in ready.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Hacienda del Caballero

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $87k271k

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

Neighborhood: Hacienda del Caballero

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8581567

* 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
Desert View Elementary School Primary Regular 454 29 3
Royal Palm Middle School Middle Regular 725 41 3
Sunnyslope High School High Regular 2,064 88 6

Desert View Elementary School

  • Education Level: Primary
  • # of students: 454
  • # of teachers: 29
3
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
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,840
EXPENSES Loan Payment -$1,291
Property Tax -$209
Property Insurance -$64
Property Management Fees -$99
CASH FLOW
$177

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.

$350,000

PROJECTED PRICE

$1,840

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 7.1%
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$200k$400k$600k$800k$1.0M$1.2M

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$45,814

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,840

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,957

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,782
1$1,7822$1,8403$1,8754$1,9905$2,300
$2,300
RENT COMPS ANALYSIS
  • 8050 N 11th Place Phoenix, AZ 2
    • 4 beds 2 baths ∙ 1,900 Sqft ∙ Built 1954 4 beds 2 baths ∙ 1,900 Sqft ∙ Built 1954
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $0.97
    •  
  • 1213 E Orchid Lane Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,788 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,788 Sqft ∙ Built 1959
    property image
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,782
    • $1.00
    •  
  • 806 E El Caminito Drive Phoenix, AZ 3
    • 4 beds 2 baths ∙ 1,960 Sqft ∙ Built 1956 4 beds 2 baths ∙ 1,960 Sqft ∙ Built 1956
    property image
    LEASED 08/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.96
    •  
  • 7757 N 12th Street Phoenix, AZ 4
    • 4 beds 3 baths ∙ 1,960 Sqft ∙ Built 1954 4 beds 3 baths ∙ 1,960 Sqft ∙ Built 1954
    property image
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $1.02
    •  
  • 8422 N 16th Place Phoenix, AZ 5
    • 3 beds 2 baths ∙ 2,012 Sqft ∙ Built 1974 3 beds 2 baths ∙ 2,012 Sqft ∙ Built 1974
    property image
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.14
    •  
PROPERTY LISTING DETAILS
Julie A. Moore
Queenie
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6157621
Last Updated: 11/07/2020
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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