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8719 N 3rd Avenue Phoenix, AZ 85021

3 Beds 2 Baths 1,613 sqft Built 1952

$415,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1952
  • Price/Sqft : $257.28
  • 2 Days on Market
  • MLS # : 6176298
  • Updated Date : 01/02/2021 at 20:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,613 sqft
  • Baths : 2 full
Listing Agent

Stunning Homes Realty

Listing Agent's Description

This incredible home situated on a large corner lot is an investor special, with very little work needed to make it move in ready. Highly desirable North Central Corridor location in a stunning community! The house was last remodeled in 2010 with a new kitchen, guest bathroom, master bathroom, A/C and water heater. The roof is in great shape and is thought to be redone in 2010 as well. For buyers looking for their own home, this home is almost ready to go! new paint job and carpet throughout could be used, as well as new shower head and valve in guest bathroom. Instant equity on this property!!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Turncrest

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $91k280k

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

Neighborhood: Turncrest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9031708

* 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
 

$373,500$456,500$415,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$1,531
Property Tax -$248
Property Insurance -$59
Property Management Fees -$99
CASH FLOW
-$336

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.

$415,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.39%

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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,725

INVESTMENT

$115,725

Down Payment
$103,750
Rehab Estimate
$5,750
Closing Costs
$6,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,531

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $103,750
Loan Amount $311,250
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$6,255

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,665

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,199
1$1,1992$1,5503$1,6004$1,6005$1,600
$1,600
RENT COMPS ANALYSIS
  • 8719 N 3rd Avenue Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,613 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,613 Sqft ∙ Built 1952
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.99
    •  
  • 9445 N 9th Avenue Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,273 Sqft ∙ Built 1946 3 beds 2 baths ∙ 1,273 Sqft ∙ Built 1946
    LEASED 10/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,199
    • $0.94
    •  
  • 15 W Mission Lane Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,351 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,351 Sqft ∙ Built 1948
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.15
    •  
  • 1013 W Mission Lane Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 1967
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.09
    •  
  • 334 W Butler Drive Phoenix, AZ 4
    • 4 beds 2 baths ∙ 1,684 Sqft ∙ Built 1958 4 beds 2 baths ∙ 1,684 Sqft ∙ Built 1958
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.95
    •  
PROPERTY LISTING DETAILS
Colby Mcmahon
Stunning Homes Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6176298
Last Updated: 01/02/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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