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838 E Ross Avenue Phoenix, AZ 85024

3 Beds 2 Baths 1,251 sqft Built 1998

$315,000

List Price

$1,320

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $251.80
  • 2 Days on Market
  • MLS # : 6160182
  • Updated Date : 11/14/2020 at 05:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,251 sqft
  • Baths : 2 full
Listing Agent

Trilese And Associates

Listing Agent's Description

This home is located in a highly desirable area of North Phoenix. Perfectly situated between SR 51 and I17 with direct access to Loop 101. Minutes away from Desert Ridge, Norterra, and other shopping and entertainment. This home features an eat-in kitchen, with a Samsung stainless steel appliance package, vaulted ceilings, built-in entertainment center, landscaped front and backyards, upgraded master bath and brand new carpet in all bedrooms. You just love all the energy savings with the Ecobee thermostat and home sensors. Come see it today. Don't miss the opportunity to call this place home!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Arroyo Rojo

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k358k

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

Neighborhood: Arroyo Rojo

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9341981

* 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
Esperanza Elementary School Primary Regular 566 40 5
Deer Valley Middle School Middle Regular 616 31 5
Barry Goldwater High School High Regular 1,856 88 4

Esperanza Elementary School

  • Education Level: Primary
  • # of students: 566
  • # of teachers: 40
5
GreatSchools Rating

Deer Valley Middle School

  • Education Level: Middle
  • # of students: 616
  • # of teachers: 31
5
GreatSchools Rating

Barry Goldwater High School

  • Education Level: High
  • # of students: 1,856
  • # of teachers: 88
4
GreatSchools Rating
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,188$1,452$1,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,320
EXPENSES Loan Payment -$1,162
Property Tax -$189
Property Insurance -$52
HOA -$39
Property Management Fees -$99
CASH FLOW
-$220

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.

$315,000

PROJECTED PRICE

$1,320

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,162

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$5,418

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,439

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,2503$1,3504$1,5505$1,600
$1,600
RENT COMPS ANALYSIS
  • 838 E Ross Avenue Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,251 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,251 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1001 E Wahalla Lane Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,136 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,136 Sqft ∙ Built 1984
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.10
    •  
  • 514 E Marco Polo Road Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,168 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,168 Sqft ∙ Built 1986
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.16
    •  
  • 20822 N 1st Lane Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1994
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.15
    •  
  • 112 W Runion Drive Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1995
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.19
    •  
PROPERTY LISTING DETAILS
Trilese Dileo
Trilese And Associates
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6160182
Last Updated: 11/14/2020
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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