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8829 N 2nd Way Phoenix, AZ 85020

3 Beds 2 Baths 1,327 sqft Built 2006

$300,000

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $226.07
  • 2 Days on Market
  • MLS # : 6179003
  • Updated Date : 01/09/2021 at 08:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,327 sqft
  • Baths : 2 full
Listing Agent

A.z. & Associates

Listing Agent's Description

You are going to love this absolutely charming home. Located in a central location in Phoenix only minutes from the 51 & the I-17. Also close to great schools and parks. This home has tile flooring throughout which makes for an elegant look and easy clean up. The bedrooms are good sized and have ceiling fans. Your new kitchen boasts granite countertops and contemporary cabinets with plenty of storage space. Large back yard with a covered patio, easy to maintain landscaping, and all the room you need to entertain, relax, and even add a future swimming pool. Ideal home for a first time buyer or to rent out if you're an investor. Hurry and come take a look before it gets snatched up. You'll be glad you did.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Sunnyslope

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $74k271k

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

Neighborhood: Sunnyslope

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8621567

* 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
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$1,042
Property Tax -$179
Property Insurance -$53
Property Management Fees -$99
CASH FLOW
$177

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.

$300,000

PROJECTED PRICE

$1,550

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 6.4%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

8.58

YEARS SAVED

$34,842

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
  • $1,569

    COMP ESTIMATED VALUE
  • $1.18

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,2953$1,2954$1,3505$1,395
$1,395
RENT COMPS ANALYSIS
  • 8829 N 2nd Way Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,327 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,327 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 8917 N 4th Street #b Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,102 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,102 Sqft ∙ Built 2008
    property image
    LEASED 08/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.18
    •  
  • 8917 N 4th Street #a Phoenix, AZ 3
    • 3 beds 2 baths ∙ 1,102 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,102 Sqft ∙ Built 2008
    property image
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.18
    •  
  • 8913 N 4th Street #a Phoenix, AZ 4
    • 3 beds 2 baths ∙ 1,102 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,102 Sqft ∙ Built 2008
    property image
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.23
    •  
  • 8811 N 5th Street Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,229 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,229 Sqft ∙ Built 1994
    property image
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.14
    •  
PROPERTY LISTING DETAILS
Dorally Leyva Lopez
A.z. & Associates
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6179003
Last Updated: 01/09/2021
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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