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11372 W Locust Lane Avondale, AZ 85323

4 Beds 3 Baths 1,737 sqft Built 2004

$299,000

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $172.14
  • 3 Days on Market
  • MLS # : 6176072
  • Updated Date : 01/01/2021 at 03:02
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,737 sqft
  • Baths : 2 full , 1 half
Listing Agent

Emg Real Estate

Listing Agent's Description

You are going to love this absolutely charming home. Close to great schools & parks and only minutes from the I-10. The first thing you'll notice is the great curb appeal to the home. Step inside to an open floor plan with tile flooring through all the main living areas. Neutral color paint throughout and ceiling fans in all the right places. The kitchen has plenty of cabinet storage space & countertop space. Large back yard with covered patio, extended concrete patio area, shed, and plenty of room to play, relax, entertain, or even add a future swimming pool or spa. 4 sapacious bedrooms & 2 1/2 baths. This gem won't last long so hurry & come take a look before it's snatched up.

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
 

$269,100$328,900$299,000

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$1,103
Property Tax -$214
Property Insurance -$61
HOA -$54
Property Management Fees -$99
CASH FLOW
-$21

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.

$299,000

PROJECTED PRICE

$1,510

PROJECTED RENT

0.51%

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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,103

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$18,519

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,494

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4503$1,4754$1,5005$1,510
$1,510
RENT COMPS ANALYSIS
  • 11372 W Locust Lane Avondale, AZ 5
    • 4 beds 3 baths ∙ 1,737 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,737 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.87
    •  
  • 11388 W Mountain View Drive Avondale, AZ 1
    • 4 beds 3 baths ∙ 1,741 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,741 Sqft ∙ Built 2004
    property image
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.80
    •  
  • 11392 W Mountain View Drive Avondale, AZ 2
    • 4 beds 3 baths ∙ 1,741 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,741 Sqft ∙ Built 2004
    property image
    LEASED 12/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.83
    •  
  • 11567 W Rio Vista Lane Avondale, AZ 3
    • 3 beds 2 baths ∙ 1,647 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,647 Sqft ∙ Built 2010
    property image
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.90
    •  
  • 2508 S 115th Drive Avondale, AZ 4
    • 4 beds 2 baths ∙ 1,647 Sqft ∙ Built 2010 4 beds 2 baths ∙ 1,647 Sqft ∙ Built 2010
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.91
    •  
PROPERTY LISTING DETAILS
Sergio Elenes
Emg Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6176072
Last Updated: 01/01/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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