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10322 W Floriade Drive Sun City, AZ 85351

2 Beds 2 Baths 1,657 sqft Built 1970

$288,000

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

February 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1970
  • Price/Sqft : $173.81
  • 2 Days on Market
  • MLS # : 6194134
  • Updated Date : 02/13/2021 at 22:52
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,657 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Modified and expanded Shasta Plan with added Family Room and Den/Office ...Recent updates include new sewer line (2016), new roof (2018), AC/Gas Pack 2013, and vinyl frame low-e windows...Backyard has a screened patio and is fenced for pets...Inside of home boasts updated bathrooms, plantation shutters or cellular shades, skylights, ceiling fans, laminated flooring, tile, and modern carpeting in the bedrooms...No popcorn ceilings...Kitchen has been remodeled to have a breakfast bar and open into Living Room...Exterior features include low-maintenance aluminum soffit and fascia and flagstone flooring on the front entry and back patio...Large heated and cooled Laundry/Utility Room...Great location in the heart of Sun City, this home is excellent inside and out.

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PRICE & RENT TRENDS

Neighborhood: Sun City

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $80k271k

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

Neighborhood: Sun City

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500Rent in $8261567

* 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
Valley Vista High School High Unknown NA

Valley Vista High School

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

$259,200$316,800$288,000

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$1,000
Property Tax -$153
Property Insurance -$60
HOA -$41
Property Management Fees -$99
CASH FLOW
$167

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$288,000

PROJECTED PRICE

$1,520

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 9.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,070

INVESTMENT

$82,070

Down Payment
$72,000
Rehab Estimate
$5,750
Closing Costs
$4,320

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,000

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,000
Loan Amount $216,000
See What Happens When You Reinvest Cash Flow

8.58

YEARS SAVED

$33,339

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,620

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,3953$1,5004$1,5205$1,775
$1,775
RENT COMPS ANALYSIS
  • 10322 W Floriade Drive Sun City, AZ 4
    • 2 beds 2 baths ∙ 1,657 Sqft ∙ Built 1970 2 beds 2 baths ∙ 1,657 Sqft ∙ Built 1970
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.92
    •  
  • 14405 N Cameo Way Sun City, AZ 1
    • 2 beds 2 baths ∙ 1,348 Sqft ∙ Built 1970 2 beds 2 baths ∙ 1,348 Sqft ∙ Built 1970
    property image
    LEASED 09/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.93
    •  
  • 10510 W Bayside Road Sun City, AZ 2
    • 2 beds 2 baths ∙ 1,541 Sqft ∙ Built 1970 2 beds 2 baths ∙ 1,541 Sqft ∙ Built 1970
    property image
    LEASED 09/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.91
    •  
  • 10305 W Talisman Road Sun City, AZ 3
    • 2 beds 2 baths ∙ 1,541 Sqft ∙ Built 1971 2 beds 2 baths ∙ 1,541 Sqft ∙ Built 1971
    property image
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.97
    •  
  • 13606 N Tan Tara Point Sun City, AZ 5
    • 2 beds 2 baths ∙ 1,609 Sqft ∙ Built 1970 2 beds 2 baths ∙ 1,609 Sqft ∙ Built 1970
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $1.10
    •  
PROPERTY LISTING DETAILS
Michael Lundsten
Coldwell Banker Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6194134
Last Updated: 02/13/2021
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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