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8840 S 51st Street #1 Phoenix, AZ 85044

2 Beds 2 Baths 1,050 sqft Built 1987

$269,900

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $257.05
  • 3 Days on Market
  • MLS # : 6208744
  • Updated Date : 03/19/2021 at 21:02
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,050 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

Wow! This meticulously maintained townhouse is a dream come true. Providing a lovely balcony where you can enjoy relaxing afternoons and incredible mountain views. Step inside this beauty to find a magnificent interior with soaring ceilings, upgraded ceiling fans, 2 bedrooms, 2 bath, laminate flooring, and laundry room near the kitchen. Become the best home cook in this spotless eat-in kitchen with track lighting, SS appliances, maple cabinets, and breakfast bar. The main bedroom includes a private exit to the balcony, walk-in closet, and an en-suite with dual sinks. Charming backyard with a spacious patio, perfect for entertaining. This community offers a refreshing blue pool/spa & golf course.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Summit at South Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: Summit at South Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8531567

* 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
South Mountain High School High Regular 1,706 102 2
Phoenix Coding Academy High Regular NA
Phoenix Coding Academy High Unknown NA

South Mountain High School

  • Education Level: High
  • # of students: 1,706
  • # of teachers: 102
2
GreatSchools Rating

Phoenix Coding Academy

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Phoenix Coding Academy

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$242,910$296,890$269,900

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$937
Property Tax -$178
Property Insurance -$48
HOA -$277
Property Management Fees -$99
CASH FLOW
-$139

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.

$269,900

PROJECTED PRICE

$1,400

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 6.3%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,274

INVESTMENT

$77,274

Down Payment
$67,475
Rehab Estimate
$5,750
Closing Costs
$4,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$937

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,475
Loan Amount $202,425
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$4,065

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $1.33

    LIST RENT PER SQFT
  • $1,318

    COMP ESTIMATED VALUE
  • $1.26

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,3503$1,3954$1,4005$1,495
$1,495
RENT COMPS ANALYSIS
  • 8840 S 51st Street #1 Phoenix, AZ 4
    • 2 beds 2 baths ∙ 1,050 Sqft ∙ Built 1987 2 beds 2 baths ∙ 1,050 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.33
    •  
  • 8844 S 51st Street #2 Phoenix, AZ 1
    • 2 beds 2 baths ∙ 1,050 Sqft ∙ Built 1987 2 beds 2 baths ∙ 1,050 Sqft ∙ Built 1987
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.19
    •  
  • 8613 S 51st Street #1 Phoenix, AZ 2
    • 2 beds 2 baths ∙ 1,020 Sqft ∙ Built 1983 2 beds 2 baths ∙ 1,020 Sqft ∙ Built 1983
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.32
    •  
  • 6233 S Parkside Drive Tempe, AZ 3
    • 2 beds 1 baths ∙ 1,110 Sqft ∙ Built 1983 2 beds 1 baths ∙ 1,110 Sqft ∙ Built 1983
    LEASED 01/09/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.26
    •  
  • 4357 E Corral Road Phoenix, AZ 5
    • 2 beds 2 baths ∙ 1,195 Sqft ∙ Built 1986 2 beds 2 baths ∙ 1,195 Sqft ∙ Built 1986
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.25
    •  
PROPERTY LISTING DETAILS
Jason Rosenberg
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6208744
Last Updated: 03/19/2021
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. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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