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8810 W Monterey Way Phoenix, AZ 85037

3 Beds 2 Baths 1,320 sqft Built 1975

$260,000

List Price

$1,050

$945 - $1.2K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1975
  • Price/Sqft : $196.97
  • 3 Days on Market
  • MLS # : 6160296
  • Updated Date : 11/13/2020 at 16:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,320 sqft
  • Baths : 2 full
Listing Agent

West Usa Realty

Listing Agent's Description

Charming home has 3 bedrooms, 2 bathrooms and is the perfect starter home! New interior paint. Plank tile floors. The eat-in kitchen has white cabinets, quartz counters, breakfast bar seating, and beautiful pendant lighting. Bedrooms have new plush carpeting & ceiling fans. The backyard is ready for you to create your own oasis! Close to schools, Westgate Entertainment District, Sports Venues, and the loop101. No HOA.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Sunrise Terrace South

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $74k271k

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

Neighborhood: Sunrise Terrace South

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7291567

* 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 Horizon Elementary School Primary Regular 994 48 3
Desert Horizon Elementary School Middle Regular 994 48 3
Copper Canyon High School High Regular 2,251 82 1

Desert Horizon Elementary School

  • Education Level: Primary
  • # of students: 994
  • # of teachers: 48
3
GreatSchools Rating

Desert Horizon Elementary School

  • Education Level: Middle
  • # of students: 994
  • # of teachers: 48
3
GreatSchools Rating

Copper Canyon High School

  • Education Level: High
  • # of students: 2,251
  • # of teachers: 82
1
GreatSchools Rating
 

$234,000$286,000$260,000

PURCHASE PRICE

$945$1,155$1,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,050
EXPENSES Loan Payment -$959
Property Tax -$161
Property Insurance -$53
Property Management Fees -$99
CASH FLOW
-$222

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.

$260,000

PROJECTED PRICE

$1,050

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 12.7%
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$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$3,229

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,050

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,056

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,050
1$1,0502$1,0953$1,1254$1,2495$1,260
$1,260
RENT COMPS ANALYSIS
  • 8810 W Monterey Way Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1975
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $0.80
    •  
  • 8956 W Indianola Avenue Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,331 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,331 Sqft ∙ Built 1987
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,095
    • $0.82
    •  
  • 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
    •  
  • 9007 W Columbus Avenue Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,665 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,665 Sqft ∙ Built 1975
    LEASED 05/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,249
    • $0.75
    •  
  • 4216 N 86th Avenue Phoenix, AZ 5
    • 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
    •  
PROPERTY LISTING DETAILS
Imelda L Reyes
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6160296
Last Updated: 11/13/2020
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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