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10346 E Cherrywood Court Sun Lakes, AZ 85248

2 Beds 2 Baths 1,566 sqft Built 2006

$399,000

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $254.79
  • 3 Days on Market
  • MLS # : 6193735
  • Updated Date : 02/13/2021 at 17:25
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,566 sqft
  • Baths : 2 full
Listing Agent

United Brokers Group

Listing Agent's Description

Welcome Home! Lovely 2 Bedroom + Den Cul-de-sac home in Sun Lakes Active Adult Community, Oakwood! This Oakmont model's highly desirable split floor plan and 2 car PLUS golf cart garage simply won't last long. Spacious eat-in Kitchen boasts stainless steel appliances w/ 5 burner gas stove and pantry. Inviting Great Room has sliding doors to extended back patio with retractable awning & above ground spa surrounded by EZ care desert landscape. Master Suite's bath has been nicely upgraded w/ large tile shower, dual sinks and walk-in closet. Refrigerator, washer & dryer convey with sale. Buyer must assume Solar Panel lease. Enjoy all that Oakwood has to offer including golf, pools/spa, fitness center, tennis, pickleball plus clubs, social activities and restaurants. This home is a beauty!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Sun Lakes

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $122k377k

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

Neighborhood: Sun Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10451981

* 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
Bogle Junior High School Middle Regular 1,225 56 8
Hamilton High School High Regular 3,740 190 8

Bogle Junior High School

  • Education Level: Middle
  • # of students: 1,225
  • # of teachers: 56
8
GreatSchools Rating

Hamilton High School

  • Education Level: High
  • # of students: 3,740
  • # of teachers: 190
8
GreatSchools Rating
 

$359,100$438,900$399,000

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$1,386
Property Tax -$272
Property Insurance -$58
HOA -$30
Property Management Fees -$99
CASH FLOW
-$105

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.

$399,000

PROJECTED PRICE

$1,740

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.8%
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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

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

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$111,485

INVESTMENT

$111,485

Down Payment
$99,750
Rehab Estimate
$5,750
Closing Costs
$5,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,386

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,750
Loan Amount $299,250
See What Happens When You Reinvest Cash Flow

3.83

YEARS SAVED

$14,194

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
  • $1,644

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,6503$1,6504$1,6755$1,750
$1,750
RENT COMPS ANALYSIS
  • 10346 E Cherrywood Court Sun Lakes, AZ 1
    • 2 beds 2 baths ∙ 1,566 Sqft ∙ Built 2006 2 beds 2 baths ∙ 1,566 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 24824 S Foxglenn Drive Sun Lakes, AZ 2
    • 2 beds 2 baths ∙ 1,763 Sqft ∙ Built 1993 2 beds 2 baths ∙ 1,763 Sqft ∙ Built 1993
    property image
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.94
    •  
  • 23821 S Harmony Way Sun Lakes, AZ 3
    • 2 beds 2 baths ∙ 1,508 Sqft ∙ Built 1999 2 beds 2 baths ∙ 1,508 Sqft ∙ Built 1999
    property image
    LEASED 08/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.09
    •  
  • 25217 S Saddletree Drive Sun Lakes, AZ 4
    • 2 beds 2 baths ∙ 1,626 Sqft ∙ Built 1987 2 beds 2 baths ∙ 1,626 Sqft ∙ Built 1987
    property image
    LEASED 01/26/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.03
    •  
  • 10526 E Voax Drive Sun Lakes, AZ 5
    • 2 beds 2 baths ∙ 1,540 Sqft ∙ Built 1991 2 beds 2 baths ∙ 1,540 Sqft ∙ Built 1991
    property image
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.14
    •  
PROPERTY LISTING DETAILS
Darlene Watson
United Brokers Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6193735
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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