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8346 W Gross Avenue Tolleson, AZ 85353

3 Beds 2 Baths 1,619 sqft Built 2003

$320,000

List Price

$1,330

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $197.65
  • 2 Days on Market
  • MLS # : 6203446
  • Updated Date : 03/06/2021 at 08:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,619 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

Welcome to your New Home, this spacious Home features 3 Bedroom and a den & 2 Baths with a very desirable floor plan with many Design Extras. The Kitchen boasts plenty of Cabinets, a big Pantry, Track Lighting. Enjoy a Big Shaded Private Back yard an excellent space for relaxing & entertaining. Backyard also offers extra storage. A MUST-SEE HOME. Do not miss out on this home, it will not last long.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Ryland at Heritage Point

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: Ryland at Heritage Point

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7991567

* 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
Tolleson Union High School High Regular 1,911 91 4

Tolleson Union High School

  • Education Level: High
  • # of students: 1,911
  • # of teachers: 91
4
GreatSchools Rating
 

$288,000$352,000$320,000

PURCHASE PRICE

$1,197$1,463$1,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,330
EXPENSES Loan Payment -$1,111
Property Tax -$207
Property Insurance -$59
HOA -$158
Property Management Fees -$99
CASH FLOW
-$304

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.

$320,000

PROJECTED PRICE

$1,330

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 10.4%
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-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,550

INVESTMENT

$90,550

Down Payment
$80,000
Rehab Estimate
$5,750
Closing Costs
$4,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,111

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $80,000
Loan Amount $240,000
See What Happens When You Reinvest Cash Flow

0.92

YEARS SAVED

$1,145

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,330

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,534

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,330
1$1,3302$1,4953$1,6004$1,6005$1,725
$1,725
RENT COMPS ANALYSIS
  • 8346 W Gross Avenue Tolleson, AZ 1
    • 3 beds 2 baths ∙ 1,619 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,619 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,330
    • $0.82
    •  
  • 9018 W Gibson Lane Tolleson, AZ 2
    • 4 beds 2 baths ∙ 1,604 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,604 Sqft ∙ Built 2005
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.93
    •  
  • 7935 W Preston Lane Phoenix, AZ 3
    • 4 beds 2 baths ∙ 1,598 Sqft ∙ Built 2000 4 beds 2 baths ∙ 1,598 Sqft ∙ Built 2000
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.00
    •  
  • 8024 W Superior Avenue Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,763 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,763 Sqft ∙ Built 2004
    LEASED 12/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.91
    •  
  • 3513 S 81st Drive Phoenix, AZ 5
    • 4 beds 2 baths ∙ 1,817 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,817 Sqft ∙ Built 2004
    LEASED 12/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.95
    •  
PROPERTY LISTING DETAILS
Francisco Isaula
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6203446
Last Updated: 03/06/2021
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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