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9908 S 3rd Avenue Phoenix, AZ 85041

3 Beds 3 Baths 2,007 sqft Built 2019

$415,000

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

Built 2019 NEW CONSTRUCTION
November 29, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $206.78
  • 1 Days on Market
  • MLS # : 6165692
  • Updated Date : 11/28/2020 at 21:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,007 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homesmart

Listing Agent's Description

This home located in the Da Vinci Courtyards gated community with private street at the foot of South Mountain could be yours today!! The immaculate interior has an L-shaped great room with tons of natural light giving you a warm and inviting feeling. Awesome kitchen includes island for prep & breakfast bar, staggered cabinets, walk-in pantry, quartz counters, and stainless steel appliances. Upstairs you will find a nice size loft perfect for an entertainment area. Spacious master suite offers walk-in closet for all your belongings and beautiful bath comprised of dual sink vanity, step-in shower, and another walk-in closet for extra storage. Enjoy Arizona's breath-taking sunsets while relaxing under the covered patio.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Da Vinci Courtyards

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $83k461k

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

Neighborhood: Da Vinci Courtyards

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000210022002300Rent in $8622306

* 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
Southwest Elementary School Primary Regular 499 26 2
Southwest Elementary School Middle Regular 499 26 2
Cesar Chavez High School High Regular 2,575 131 3

Southwest Elementary School

  • Education Level: Primary
  • # of students: 499
  • # of teachers: 26
2
GreatSchools Rating

Southwest Elementary School

  • Education Level: Middle
  • # of students: 499
  • # of teachers: 26
2
GreatSchools Rating

Cesar Chavez High School

  • Education Level: High
  • # of students: 2,575
  • # of teachers: 131
3
GreatSchools Rating
 

$373,500$456,500$415,000

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$1,531
Property Tax -$270
Property Insurance -$66
HOA -$176
Property Management Fees -$99
CASH FLOW
-$522

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$415,000

PROJECTED PRICE

$1,620

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 9.0%
Maintenance Year (1-5) 3.00%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$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$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,975

INVESTMENT

$111,975

Down Payment
$103,750
Rehab Estimate
$2,000
Closing Costs
$6,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,531

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $103,750
Loan Amount $311,250
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$324

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
  • $1,761

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,4753$1,7504$1,8995$2,000
$2,000
RENT COMPS ANALYSIS
  • 9908 S 3rd Avenue Phoenix, AZ 1
    • 3 beds 3 baths ∙ 2,007 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,007 Sqft ∙ Built 2019
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1017 E Gwen Street Phoenix, AZ 2
    • 4 beds 2 baths ∙ 1,756 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,756 Sqft ∙ Built 2004
    property image
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.84
    •  
  • 8224 S 6th Lane Phoenix, AZ 3
    • 4 beds 4 baths ∙ 1,994 Sqft ∙ Built 2016 4 beds 4 baths ∙ 1,994 Sqft ∙ Built 2016
    property image
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.88
    •  
  • 9002 S 10th Drive Phoenix, AZ 4
    • 3 beds 2 baths ∙ 2,023 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,023 Sqft ∙ Built 2005
    property image
    LEASED 08/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,899
    • $0.94
    •  
  • 123 E Beth Drive Phoenix, AZ 5
    • 3 beds 3 baths ∙ 2,346 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,346 Sqft ∙ Built 2003
    property image
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.85
    •  
PROPERTY LISTING DETAILS
Cynthia Quaranta
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6165692
Last Updated: 11/28/2020
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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