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115 E Cercado Lane Litchfield Park, AZ 85340

3 Beds 2 Baths 2,571 sqft Built 1985

$595,000

List Price

$2,020

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $231.43
  • 2 Days on Market
  • MLS # : 6213033
  • Updated Date : 03/27/2021 at 14:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,571 sqft
  • Baths : 2 full
Listing Agent

Long Realty West Valley

Listing Agent's Description

If you have been looking for a home in historic Litchfield Park Proper, this is your opportunity. This neighborhood is just off Bird Lane situated on a quiet cul-de-sac lot at the end of the street. This house is a 3-bedroom 2 bath split floorplan layout PLUS a separate office. His & Her walk-in closets in the master. Covered patio opens to a large 1/2+ acre private backyard providing ample outdoor living/landscape opportunity. Owned solar will help you keep your electric bills down. Custom plantation shutters in several rooms and the exterior features ''slump block'' brick for a traditional Litchfield Park exterior appearance. Minutes away from the Wigwam Resort and convenient location for shopping.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Litchfield Park

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $122k371k

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

Neighborhood: Litchfield Park

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
Millennium High School High Regular 2,205 94 4

Millennium High School

  • Education Level: High
  • # of students: 2,205
  • # of teachers: 94
4
GreatSchools Rating
 

$535,500$654,500$595,000

PURCHASE PRICE

$1,818$2,222$2,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,020
EXPENSES Loan Payment -$2,067
Property Tax -$344
Property Insurance -$77
Property Management Fees -$99
CASH FLOW
-$567

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.

$595,000

PROJECTED PRICE

$2,020

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 7.1%
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$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$163,425

INVESTMENT

$163,425

Down Payment
$148,750
Rehab Estimate
$5,750
Closing Costs
$8,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,067

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $148,750
Loan Amount $446,250
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$2,631

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,020

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,198

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$2,0203$2,1004$2,2005$2,450
$2,450
RENT COMPS ANALYSIS
  • 115 E Cercado Lane Litchfield Park, AZ 2
    • 3 beds 2 baths ∙ 2,571 Sqft ∙ Built 1985 3 beds 2 baths ∙ 2,571 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $2,020
    • $0.79
    •  
  • 5615 N 134th Drive Litchfield Park, AZ 1
    • 3 beds 3 baths ∙ 2,432 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,432 Sqft ∙ Built 2003
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.74
    •  
  • 201 W Alegre Drive Litchfield Park, AZ 3
    • 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 1966 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 1966
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.88
    •  
  • 13727 W San Miguel Avenue Litchfield Park, AZ 4
    • 4 beds 2 baths ∙ 2,415 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,415 Sqft ∙ Built 2002
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.91
    •  
  • 185 E Cercado Lane Litchfield Park, AZ 5
    • 4 beds 3 baths ∙ 2,759 Sqft ∙ Built 1974 4 beds 3 baths ∙ 2,759 Sqft ∙ Built 1974
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.89
    •  
PROPERTY LISTING DETAILS
Gordon Nichols
Long Realty West Valley
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6213033
Last Updated: 03/27/2021
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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