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8511 N 6th Street Phoenix, AZ 85020

3 Beds 2 Baths 1,823 sqft Built 1955

$439,000

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 1955
  • Price/Sqft : $240.81
  • 6 Days on Market
  • MLS # : 6152242
  • Updated Date : 11/07/2020 at 09:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,823 sqft
  • Baths : 1 full , 1 half
Listing Agent

Homesmart

Listing Agent's Description

If you are looking for a beautifully renovated Mid Century rancher located in the highly desirable Central Phoenix area, you will absolutely love this home! This top to bottom remodel features an open concept floor plan, 3 oversized bedrooms, huge walk-in master closet and 2 totally redesigned bathrooms both with double sinks. The new upgraded white shaker cabinets, quartz countertops, large entertaining island and luxury appliances compliment this modern gourmet kitchen. Included is a walk-in pantry/mud room, new dual pane windows, new doors and a new roof. The large corner lot with RV gate offers endless possibilities and NO HOA! Enjoy the many walking paths, bike trails and restaurants all located within a highly rated school district! Run don't walk before this one gets away!!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: North Town

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $75k271k

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

Neighborhood: North Town

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7981567

* 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
 

$395,100$482,900$439,000

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$1,620
Property Tax -$262
Property Insurance -$63
Property Management Fees -$99
CASH FLOW
-$313

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.

$439,000

PROJECTED PRICE

$1,730

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 9.6%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$122,085

INVESTMENT

$122,085

Down Payment
$109,750
Rehab Estimate
$5,750
Closing Costs
$6,585

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,620

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $109,750
Loan Amount $329,250
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$7,953

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,905

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7303$1,7824$1,8755$2,450
$2,450
RENT COMPS ANALYSIS
  • 8511 N 6th Street Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,823 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,823 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.95
    •  
  • 1137 E Diana Avenue Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,693 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,693 Sqft ∙ Built 1959
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.97
    •  
  • 1213 E Orchid Lane Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,788 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,788 Sqft ∙ Built 1959
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,782
    • $1.00
    •  
  • 806 E El Caminito Drive Phoenix, AZ 4
    • 4 beds 2 baths ∙ 1,960 Sqft ∙ Built 1956 4 beds 2 baths ∙ 1,960 Sqft ∙ Built 1956
    LEASED 08/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.96
    •  
  • 225 E El Camino Drive Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,967 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,967 Sqft ∙ Built 1957
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.25
    •  
PROPERTY LISTING DETAILS
Diana M Smith
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6152242
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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