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11221 W Locust Lane Avondale, AZ 85323

4 Beds 3 Baths 2,345 sqft Built 2003

$320,000

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $136.46
  • 3 Days on Market
  • MLS # : 6156433
  • Updated Date : 11/14/2020 at 14:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,345 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homesmart

Listing Agent's Description

4 bedroom, 2.5 baths! Spacious and Bright two story home at Durango Park, Avondale, AZ 85323. This home features 3 car garage, and plenty of slab parking, north south exposure, home with open floor plan with tile and wood flooring downstairs, all bedrooms upstairs and a loft, with a convenient half bath in the first floor, great room and den. Community Durango Park one street behind the property, Quentin elementary school in walking distance. Convenient located, 3 miles from I-10 and Phoenix Raceway, 6 miles to Loop 101, Gateway Pavilion shopping and a lot more for the joy of your family.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Durango Park

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: Durango Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500Rent in $8061567

* 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
Quentin Elementary School Primary Regular 979 52 2
Quentin Elementary School Middle Regular 979 52 2
La Joya Community High School High Regular 2,051 84 1

Quentin Elementary School

  • Education Level: Primary
  • # of students: 979
  • # of teachers: 52
2
GreatSchools Rating

Quentin Elementary School

  • Education Level: Middle
  • # of students: 979
  • # of teachers: 52
2
GreatSchools Rating

La Joya Community High School

  • Education Level: High
  • # of students: 2,051
  • # of teachers: 84
1
GreatSchools Rating
 

$288,000$352,000$320,000

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$1,181
Property Tax -$229
Property Insurance -$73
HOA -$54
Property Management Fees -$99
CASH FLOW
-$86

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.

$320,000

PROJECTED PRICE

$1,550

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 8.4%
Maintenance Year (1-5) 8.00%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$90,550

INVESTMENT

$90,550

Down Payment
$80,000
Rehab Estimate
$5,750
Closing Costs
$4,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $80,000
Loan Amount $240,000
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$14,439

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
  • $1,782

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,5993$1,6494$1,7455$1,800
$1,800
RENT COMPS ANALYSIS
  • 11221 W Locust Lane Avondale, AZ 1
    • 4 beds 3 baths ∙ 2,345 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,345 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 10535 W Papago Street Tolleson, AZ 2
    • 3 beds 3 baths ∙ 2,228 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,228 Sqft ∙ Built 2004
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $0.72
    •  
  • 10613 W Pima Street Tolleson, AZ 3
    • 4 beds 3 baths ∙ 2,228 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,228 Sqft ∙ Built 2004
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,649
    • $0.74
    •  
  • 10528 W Pomo Street Tolleson, AZ 4
    • 4 beds 2 baths ∙ 2,290 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,290 Sqft ∙ Built 2004
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.76
    •  
  • 11201 W Davis Lane Avondale, AZ 5
    • 5 beds 2 baths ∙ 2,208 Sqft ∙ Built 2005 5 beds 2 baths ∙ 2,208 Sqft ∙ Built 2005
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.82
    •  
PROPERTY LISTING DETAILS
Martha M Navarro
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6156433
Last Updated: 11/14/2020
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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