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10705 E Michigan Avenue Sun Lakes, AZ 85248

3 Beds 4 Baths 1,805 sqft Built 1989

$429,000

List Price

$1,990

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $237.67
  • 6 Days on Market
  • MLS # : 6173875
  • Updated Date : 12/22/2020 at 14:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,805 sqft
  • Baths : 3 full , 1 half
Listing Agent

West Usa Realty

Listing Agent's Description

Beautiful Home on Golf Course, Separate Casita, Private Court Yard. 2 Bedrooms in Main House w/2.5 Baths. Large open Great Room w/ Vaulted Ceiling, Fireplace, Laminate Floors. Formal Dining Area, Large Kitchen and separate Breakfast Room., Tile Floors, Tile Counter Tops, all Kitchen Appliances, inside Laundry off Kitchen w/Cabinets. Large Master Bedroom w/Laminate Floors, Stone Counter Tops, Shower & separate Tub w/Jets. Skylights, Walk in Closet. 2nd Bedroom & 2nd Bath. Large Casitaw/Tile Floors, Ceiling Fan Walk in Closet. Nice back yard Patio, w/Pavers. (Fountain does not work & Trustee will not repair.) New Coated Patio Roof. So much more, come see.

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
Jacobson Elementary School Primary Regular 889 41 9
Jacobson Elementary School Middle Regular 889 41 9
Hamilton High School High Regular 3,740 190 8

Jacobson Elementary School

  • Education Level: Primary
  • # of students: 889
  • # of teachers: 41
9
GreatSchools Rating

Jacobson Elementary School

  • Education Level: Middle
  • # of students: 889
  • # of teachers: 41
9
GreatSchools Rating

Hamilton High School

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

$386,100$471,900$429,000

PURCHASE PRICE

$1,791$2,189$1,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,990
EXPENSES Loan Payment -$1,583
Property Tax -$300
Property Insurance -$62
HOA -$13
Property Management Fees -$99
CASH FLOW
-$67

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.

$429,000

PROJECTED PRICE

$1,990

PROJECTED RENT

0.46%

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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$119,435

INVESTMENT

$119,435

Down Payment
$107,250
Rehab Estimate
$5,750
Closing Costs
$6,435

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,583

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $107,250
Loan Amount $321,750
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$23,279

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
  • $1,963

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,7503$2,0004$2,2005$2,295
$2,295
RENT COMPS ANALYSIS
  • 10705 E Michigan Avenue Sun Lakes, AZ 1
    • 3 beds 4 baths ∙ 1,805 Sqft ∙ Built 1989 3 beds 4 baths ∙ 1,805 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 133 W Mahogany Place Chandler, AZ 2
    • 3 beds 3 baths ∙ 1,839 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,839 Sqft ∙ Built 2000
    LEASED 08/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.95
    •  
  • 5122 S Tumbleweed Lane Chandler, AZ 3
    • 3 beds 2 baths ∙ 1,738 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,738 Sqft ∙ Built 1997
    LEASED 11/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.15
    •  
  • 260 W Birchwood Place Chandler, AZ 4
    • 3 beds 2 baths ∙ 1,882 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,882 Sqft ∙ Built 2000
    LEASED 12/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.17
    •  
  • 120 W Birchwood Place Chandler, AZ 5
    • 3 beds 2 baths ∙ 2,134 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,134 Sqft ∙ Built 2000
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.08
    •  
PROPERTY LISTING DETAILS
Sandy Thompson
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6173875
Last Updated: 12/22/2020
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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