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11522 W Columbine Drive El Mirage, AZ 85335

2 Beds 2 Baths 1,423 sqft Built 2001

INVESTimate

$250,000

List Price

$1,100

$990 - $1,210

Rent Est.

$279,450  ( +11.78%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2001
  • Price/Sqft : $175.69
  • 6 Days on Market
  • MLS # : 6120823
  • Updated Date : 08/21/2020 at 14:55
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,423 sqft
  • Baths : 2 full
Listing Agent

Howe Realty

Listing Agent's Description

Welcome to your new family home.This bright and open 2 bedroom 2 bathroom home plus den has been meticulously cared for and offers an incredible opportunity to own a perfect home at a great value. This charming home offers neutral paint colors throughout plus tile and lush carpet flooring in all the right places. Gather the whole family together to eat and relax in the open-plan kitchen and dining room area that overlooks the great room where the family can sit down on the couch and relax. Other enjoyable features are a 2 car garage, inside laundry, covered patio plus NEW AC and Heating unit. Schedule a showing today!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Arizona Brisas

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $71k271k

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

Neighborhood: Arizona Brisas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7551567

* 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
Riverview Elementary School Primary Regular 986 53 2
Riverview Elementary School Middle Regular 986 53 2
Dysart High School High Regular 1,604 73 3

Riverview Elementary School

  • Education Level: Primary
  • # of students: 986
  • # of teachers: 53
2
GreatSchools Rating

Riverview Elementary School

  • Education Level: Middle
  • # of students: 986
  • # of teachers: 53
2
GreatSchools Rating

Dysart High School

  • Education Level: High
  • # of students: 1,604
  • # of teachers: 73
3
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$990$1,210$1,100

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,100
EXPENSES Loan Payment -$922
Property Tax -$131
Property Insurance -$55
Property Management Fees -$99
CASH FLOW
-$108

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.

$250,000

PROJECTED PRICE

$1,100

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 11.78%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$9,439

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,100

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,100
$1,100
RENT COMPS ANALYSIS
  • 11522 W Columbine Drive El Mirage,
    • 2 beds 2 baths ∙ 1,423 Sqft ∙ Built 2001 2 beds 2 baths ∙ 1,423 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.77
    •  
PROPERTY LISTING DETAILS
Brandon Howe
Howe Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6120823
Last Updated: 08/21/2020
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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