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1123 S Main Drive Apache Junction, AZ 85120

2 Beds 2 Baths 1,130 sqft Built 1978

INVESTimate

$240,000

List Price

$1,070

$963 - $1,177

Rent Est.

$261,408  ( +8.92%)   1 YR EST. FORECAST

PROPERTY INFO

August 26, 2020 RECENTLY ADDED
FACTS
  • Built In 1978
  • Price/Sqft : $212.39
  • 1 Days on Market
  • MLS # : 6122557
  • Updated Date : 08/25/2020 at 18:32
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,130 sqft
  • Baths : 2 full
Listing Agent

Lost Dutchman Realty

Listing Agent's Description

This 55+ Community has no monthly HOA Fees! There is an option $250 Year fee for use of the clubhouse, pool and other amenities. Home is Move in Ready, New paint inside and out, New Kitchen Appliances and granite counter tops,Wood Flooring thru out, New windows,also New bathroom vanity tops, New storage shed.Has a RV Gate,So Bring your Boat or Motor home. Also Home comes Fully Furnished. YOU will love living in thus Beautful home, and neighborhood.FeaturesRoom Details

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Apache Junction

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: Apache Junction

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8621567

* 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
Four Peaks Elementary School Primary Regular 686 37 6
Four Peaks Elementary School Middle Regular 686 37 6
Apache Junction High School High Regular 1,304 69 3

Four Peaks Elementary School

  • Education Level: Primary
  • # of students: 686
  • # of teachers: 37
6
GreatSchools Rating

Four Peaks Elementary School

  • Education Level: Middle
  • # of students: 686
  • # of teachers: 37
6
GreatSchools Rating

Apache Junction High School

  • Education Level: High
  • # of students: 1,304
  • # of teachers: 69
3
GreatSchools Rating
 

$216,000$264,000$240,000

PURCHASE PRICE

$963$1,177$1,070

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,070
EXPENSES Loan Payment -$886
Property Tax -$126
Property Insurance -$49
Property Management Fees -$99
CASH FLOW
-$90

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.

$240,000

PROJECTED PRICE

$1,070

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 8.92%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$886

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$10,088

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
  • $1,088

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$7503$8004$8655$1,150
$1,150
RENT COMPS ANALYSIS
  • 1123 S Main Drive Apache Junction, 1
    • 2 beds 2 baths ∙ 1,130 Sqft ∙ Built 1978 2 beds 2 baths ∙ 1,130 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 460 E 10th Avenue #102 Apache Junction, 2
    • 2 beds 1 baths ∙ 783 Sqft ∙ Built 1984 2 beds 1 baths ∙ 783 Sqft ∙ Built 1984
    LEASED 09/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $750
    • $0.96
    •  
  • 1920 S Plaza Drive #11 Apache Junction, 3
    • 2 beds 2 baths ∙ 889 Sqft ∙ Built 1987 2 beds 2 baths ∙ 889 Sqft ∙ Built 1987
    LEASED 07/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $800
    • $0.90
    •  
  • 153 N Ocotillo Drive #10 Apache Junction, 4
    • 2 beds 2 baths ∙ 860 Sqft ∙ Built 1970 2 beds 2 baths ∙ 860 Sqft ∙ Built 1970
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $865
    • $1.01
    •  
  • 1924 W 13th Avenue Apache Junction, 5
    • 2 beds 2 baths ∙ 1,174 Sqft ∙ Built 1982 2 beds 2 baths ∙ 1,174 Sqft ∙ Built 1982
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.98
    •  
PROPERTY LISTING DETAILS
Linda P Cooley
Lost Dutchman Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6122557
Last Updated: 08/25/2020
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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