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902 W Roma Avenue Phoenix, AZ 85013

3 Beds 3 Baths 2,431 sqft Built 1947

$609,000

List Price

$2,480

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1947
  • Price/Sqft : $250.51
  • 3 Days on Market
  • MLS # : 6184290
  • Updated Date : 01/23/2021 at 19:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,431 sqft
  • Baths : 2 full , 1 half
Listing Agent

Altus Realty Llc

Listing Agent's Description

The biggest lot on the block right in the heart of Melrose! The main house has 3 bd/2.5 ba and 2431 sq ft of living space. This perfectly situated home boasts a backyard layout with amazing entertainment and enjoyment options, just waiting for your personal touch. An updated detached guest house provides additional opportunities for income or accommodating extended family. Centrally located, a variety of dining and shopping options just minutes away.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Melrose Manor

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $83k304k

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

Neighborhood: Melrose Manor

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
Clarendon School Primary Regular 440 25 3
Osborn Middle School Middle Alternative 565 30 5
Central High School High Regular 2,251 136 3

Clarendon School

  • Education Level: Primary
  • # of students: 440
  • # of teachers: 25
3
GreatSchools Rating

Osborn Middle School

  • Education Level: Middle
  • # of students: 565
  • # of teachers: 30
5
GreatSchools Rating

Central High School

  • Education Level: High
  • # of students: 2,251
  • # of teachers: 136
3
GreatSchools Rating
 

$548,100$669,900$609,000

PURCHASE PRICE

$2,232$2,728$2,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,480
EXPENSES Loan Payment -$2,115
Property Tax -$321
Property Insurance -$75
Property Management Fees -$99
CASH FLOW
-$130

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.

$609,000

PROJECTED PRICE

$2,480

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 11.5%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$167,135

INVESTMENT

$167,135

Down Payment
$152,250
Rehab Estimate
$5,750
Closing Costs
$9,135

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$2,115

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $152,250
Loan Amount $456,750
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$26,412

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
  • $2,680

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,1953$2,4004$2,4005$2,750
$2,750
RENT COMPS ANALYSIS
  • 902 W Roma Avenue Phoenix, AZ 1
    • 3 beds 3 baths ∙ 2,431 Sqft ∙ Built 1947 3 beds 3 baths ∙ 2,431 Sqft ∙ Built 1947
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 5646 N 12th Avenue Phoenix, AZ 2
    • 3 beds 2 baths ∙ 2,121 Sqft ∙ Built 1950 3 beds 2 baths ∙ 2,121 Sqft ∙ Built 1950
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.03
    •  
  • 10 W Oregon Avenue Phoenix, AZ 3
    • 3 beds 2 baths ∙ 2,164 Sqft ∙ Built 1951 3 beds 2 baths ∙ 2,164 Sqft ∙ Built 1951
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.11
    •  
  • 224 W Glenrosa Avenue Phoenix, AZ 4
    • 4 beds 3 baths ∙ 2,137 Sqft ∙ Built 1948 4 beds 3 baths ∙ 2,137 Sqft ∙ Built 1948
    LEASED 12/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.12
    •  
  • 517 W Oregon Avenue Phoenix, AZ 5
    • 3 beds 3 baths ∙ 2,383 Sqft ∙ Built 1945 3 beds 3 baths ∙ 2,383 Sqft ∙ Built 1945
    LEASED 01/18/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.15
    •  
PROPERTY LISTING DETAILS
Hope Harris
Altus Realty Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6184290
Last Updated: 01/23/2021
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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