Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

946 W Palm Lane Phoenix, AZ 85007

3 Beds 3 Baths 2,196 sqft Built 1936

$790,000

List Price

$2,410

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1936
  • Price/Sqft : $359.74
  • 2 Days on Market
  • MLS # : 6209824
  • Updated Date : 03/20/2021 at 16:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,196 sqft
  • Baths : 2 full , 1 half
Listing Agent

Russ Lyon Sotheby's International Realty

Listing Agent's Description

Beautifully remodeled 1936 adobe home located in the heart of the historic Encanto Palmcroft neighborhood. Enter through a charming walled in, front courtyard. The house has been beautifully remodeled while maintaining all of it's the historic architectural charm. Historic features include original gleaming hardwood floors, original plaster crown molding in the living room, wood burning fireplace and French doors opening to two front patios. The floorplan features 3 bedrooms, 2 baths a formal living room with a fireplace, a formal dining room with French doors to the front courtyard, a sunny family room and remodeled kitchen with stainless appliances and granite countertops. The two car garage has been extended with 2 small rooms and a half bath which could easily be expanded as a casita

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Encanto Palmcroft

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450k500kPrice in $91k513k

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

Neighborhood: Encanto Palmcroft

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200240026002800Rent in $9342836

* 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
Central High School High Regular 2,251 136 3
Phoenix Coding Academy High Regular NA
Phoenix Coding Academy High Unknown NA

Central High School

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

$711,000$869,000$790,000

PURCHASE PRICE

$2,169$2,651$2,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,410
EXPENSES Loan Payment -$2,744
Property Tax -$422
Property Insurance -$70
Property Management Fees -$99
CASH FLOW
-$925

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.

$790,000

PROJECTED PRICE

$2,410

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
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-$15k-$10k-$5.0k$0.0$5.0k$10k

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$215,100

INVESTMENT

$215,100

Down Payment
$197,500
Rehab Estimate
$5,750
Closing Costs
$11,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,744

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $197,500
Loan Amount $592,500
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$808

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,410

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $2,421

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$1,875
1$1,8752$1,9503$2,4104$2,4955$2,850
$2,850
RENT COMPS ANALYSIS
  • 946 W Palm Lane Phoenix, AZ 3
    • 3 beds 3 baths ∙ 2,196 Sqft ∙ Built 1936 3 beds 3 baths ∙ 2,196 Sqft ∙ Built 1936
    • Rent
    • Rent Per SQFT
    •  
    • $2,410
    • $1.10
    •  
  • 1904 W Palm Lane #a Phoenix, AZ 1
    • 4 beds 3 baths ∙ 1,943 Sqft ∙ Built 1928 4 beds 3 baths ∙ 1,943 Sqft ∙ Built 1928
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.97
    •  
  • 1905 W Cambridge Avenue Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,984 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,984 Sqft ∙ Built 1955
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.98
    •  
  • 2028 N 11th Avenue Phoenix, AZ 4
    • 3 beds 2 baths ∙ 2,004 Sqft ∙ Built 1936 3 beds 2 baths ∙ 2,004 Sqft ∙ Built 1936
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.25
    •  
  • 1144 W Edgemont Avenue Phoenix, AZ 5
    • 4 beds 3 baths ∙ 2,351 Sqft ∙ Built 1950 4 beds 3 baths ∙ 2,351 Sqft ∙ Built 1950
    LEASED 09/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.21
    •  
PROPERTY LISTING DETAILS
Chad D Christian Jr
Russ Lyon Sotheby's International Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6209824
Last Updated: 03/20/2021
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.

BESbswy