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8114 W Fairmount Avenue Phoenix, AZ 85033

3 Beds 2 Baths 1,332 sqft Built 1961

$239,900

List Price

$990

$891 - $1.1K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 1961
  • Price/Sqft : $180.11
  • 5 Days on Market
  • MLS # : 6156062
  • Updated Date : 11/06/2020 at 09:53
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,332 sqft
  • Baths : 2 full
Listing Agent

A.z. & Associates

Listing Agent's Description

WELCOME HOME!! This amazing home has 3 bedrooms,2 bathrooms, a 2 car garage and a good size backyard. We know you're going to love it. Great location ,close to schools & parks and only minutes from the 101 and the I-10 Freeway. Open floor plan with vaulted ceilings and neutral color paint throughout. Tile flooring in all the main living areas. The spacious kitchen has plenty of countertop space and storage. The backyard offers covered patio and a clean slate to landscape however you can imagine. Don't miss out on this great opportunity. This gem won't last long. Hurry and come take a look before it's gone. You won't be disappointed.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Maryvale

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $74k271k

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

Neighborhood: Maryvale

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6831567

* 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
Starlight Park Elementary School Primary Regular 895 56 2
Estrella Middle School Middle Regular 1,338 55 4
Trevor Browne High School High Regular 3,077 144 3

Starlight Park Elementary School

  • Education Level: Primary
  • # of students: 895
  • # of teachers: 56
2
GreatSchools Rating

Estrella Middle School

  • Education Level: Middle
  • # of students: 1,338
  • # of teachers: 55
4
GreatSchools Rating

Trevor Browne High School

  • Education Level: High
  • # of students: 3,077
  • # of teachers: 144
3
GreatSchools Rating
 

$215,910$263,890$239,900

PURCHASE PRICE

$891$1,089$990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $990
EXPENSES Loan Payment -$885
Property Tax -$144
Property Insurance -$53
Property Management Fees -$99
CASH FLOW
-$192

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.

$239,900

PROJECTED PRICE

$990

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 13.8%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,324

INVESTMENT

$69,324

Down Payment
$59,975
Rehab Estimate
$5,750
Closing Costs
$3,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$885

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,975
Loan Amount $179,925
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$3,624

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $990

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,072

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$990
1$9902$1,0493$1,1254$1,2605$1,349
$1,349
RENT COMPS ANALYSIS
  • 8114 W Fairmount Avenue Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,332 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,332 Sqft ∙ Built 1961
    • Rent
    • Rent Per SQFT
    •  
    • $990
    • $0.74
    •  
  • 3015 N 77th Avenue Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,404 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,404 Sqft ∙ Built 1979
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,049
    • $0.75
    •  
  • 8802 W Pinchot Avenue Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1974
    LEASED 07/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,125
    • $0.80
    •  
  • 4216 N 86th Avenue Phoenix, AZ 4
    • 4 beds 2 baths ∙ 1,519 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,519 Sqft ∙ Built 1976
    LEASED 11/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,260
    • $0.83
    •  
  • 8723 W Whitton Avenue Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 1979
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,349
    • $0.84
    •  
PROPERTY LISTING DETAILS
Luis Aceves
A.z. & Associates
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6156062
Last Updated: 11/06/2020
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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