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24 W Linger Lane 
Phoenix, AZ
85021
4 Beds 3 Baths 3,168 sqft
Built 1981
INVESTimate
$950,000
List Price
$257,500
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PROPERTY INFO
FACTS
- Built In 1981
- Price/Sqft : $299.87
- 3 Days on Market
- MLS # : 6121837
- Updated Date : 08/24/2020 at 14:48
CONSTRUCTION
- Beds : 4
- Floor Size : 3,168 sqft
- Baths : 3 full
Listing Agent
Russ Lyon Sotheby's International Realty
Listing Agent's Description
Beautiful custom home in the North Central corridor. This lovely home sits on an over sized lot with mountain views and mature trees. With 4 bedrooms and 3 baths and a split floor plan, it is perfect for a family. There is a large master suite with french doors leading to the backyard and a remodeled bathroom with marble flooring, a custom glass door and a restoration hardware vanity. The home has beautiful Provenza hardwood flooring in the main areas with colors that match any decor. The dramatic kitchen boasts a 20 foot white brick wall with whitewash ceilings and an island. Cathedral ceiling throughout gives the home an open feel. This home has been remodeled in all the right places with charm and elegance. See the document tab for full list of Features and Upgrades.
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PRICE & RENT TRENDS
Neighborhood: North Central Corridor
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: North Central Corridor
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,270 |
| EXPENSES | Loan Payment | -$3,505 |
| Property Tax | -$683 | |
| Property Insurance | -$89 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$1,106
|
||
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.
$950,000
PROJECTED PRICE
$3,270
PROJECTED RENT
0.34%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.17% |
| Appreciation Year (1-5) | 8.31% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.60% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$257,500
LOAN DETAILS
$3,505
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $237,500 |
| Loan Amount | $712,500 |
0.42
YEARS SAVED
$1,648
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,270
LIST RENT -
$1.03
LIST RENT PER SQFT
-
$3,612
COMP ESTIMATED VALUE -
$1.14
COMP AVG. RENT PER SQFT
Comps Range
-
24 W Linger Lane Phoenix, 1
- 4 beds 3 baths ∙ 3,168 Sqft ∙ Built 1981 4 beds 3 baths ∙ 3,168 Sqft ∙ Built 1981
- Rent
- Rent Per SQFT
- $3,270
- $1.03
-
512 W El Caminito Drive Phoenix, 2
- 3 beds 3 baths ∙ 3,038 Sqft ∙ Built 1985 3 beds 3 baths ∙ 3,038 Sqft ∙ Built 1985
LEASED 03/29/19- Rent
- Rent Per SQFT
- $3,300
- $1.09
-
21 E Harmont Drive Phoenix, 3
- 3 beds 3 baths ∙ 2,966 Sqft ∙ Built 1993 3 beds 3 baths ∙ 2,966 Sqft ∙ Built 1993
LEASED 09/01/19- Rent
- Rent Per SQFT
- $3,380
- $1.14
-
1213 W Stella Lane Phoenix, 4
- 5 beds 3 baths ∙ 3,033 Sqft ∙ Built 2000 5 beds 3 baths ∙ 3,033 Sqft ∙ Built 2000
LEASED 02/15/20- Rent
- Rent Per SQFT
- $3,500
- $1.15
-
217 W Frier Drive Phoenix, 5
- 4 beds 3 baths ∙ 3,040 Sqft ∙ Built 1981 4 beds 3 baths ∙ 3,040 Sqft ∙ Built 1981
LEASED 05/11/20- Rent
- Rent Per SQFT
- $3,575
- $1.18
PROPERTY LISTING DETAILS
Russ Lyon Sotheby's International Realty
1.866.250.5610
Mynd Property Management
LC664597000
MLS #: 6121837
Last Updated: 08/24/2020
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.
