Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

11632 N Cromwell Drive Fountain Hills, AZ 85268

4 Beds 3 Baths 3,300 sqft Built 1980

$699,000

List Price

$2,510

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $211.82
  • 4 Days on Market
  • MLS # : 6211924
  • Updated Date : 03/26/2021 at 19:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,300 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Excalibur

Listing Agent's Description

Charming Santa Fe home on over an acre set away from the road for added privacy and VIEWS. Mostly single-level with a large sunken living room with a cozy wood-burning fireplace. Spacious kitchen with a sunny breakfast room overlooking the patio and Views of Four Peaks Mountains! The gallery style hallway is perfect for displaying your art and leads to the fully fenced pool area. Huge master suite with an additional fireplace and sitting area, Natural desert landscaping is a breeze to maintain. Some furnishings might be available on a separate bill of sale.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Fountain Hills

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $122k408k

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

Neighborhood: Fountain Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10452077

* 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 243 9 6
Fountain Hills High School High Regular 617 31 7
Four Peaks Elementary School Primary Unknown NA

Four Peaks Elementary School

  • Education Level: Primary
  • # of students: 243
  • # of teachers: 9
6
GreatSchools Rating

Fountain Hills High School

  • Education Level: High
  • # of students: 617
  • # of teachers: 31
7
GreatSchools Rating

Four Peaks Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$629,100$768,900$699,000

PURCHASE PRICE

$2,259$2,761$2,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,510
EXPENSES Loan Payment -$2,428
Property Tax -$351
Property Insurance -$91
Property Management Fees -$99
CASH FLOW
-$459

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.

$699,000

PROJECTED PRICE

$2,510

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.2%
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$15k$20k

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$190,985

INVESTMENT

$190,985

Down Payment
$174,750
Rehab Estimate
$5,750
Closing Costs
$10,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,428

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $174,750
Loan Amount $524,250
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$10,129

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,510

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,772

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,499
1$2,4992$2,5013$2,5104$2,7005$3,200
$3,200
RENT COMPS ANALYSIS
  • 11632 N Cromwell Drive Fountain Hills, AZ 3
    • 4 beds 3 baths ∙ 3,300 Sqft ∙ Built 1980 4 beds 3 baths ∙ 3,300 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $2,510
    • $0.76
    •  
  • 17031 E Lema Circle Fountain Hills, AZ 1
    • 4 beds 3 baths ∙ 3,200 Sqft ∙ Built 1985 4 beds 3 baths ∙ 3,200 Sqft ∙ Built 1985
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,499
    • $0.78
    •  
  • 16308 E Trevino Drive Fountain Hills, AZ 2
    • 4 beds 4 baths ∙ 3,500 Sqft ∙ Built 1984 4 beds 4 baths ∙ 3,500 Sqft ∙ Built 1984
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,501
    • $0.71
    •  
  • 16129 E Trevino Drive Fountain Hills, AZ 4
    • 4 beds 3 baths ∙ 3,042 Sqft ∙ Built 1987 4 beds 3 baths ∙ 3,042 Sqft ∙ Built 1987
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.89
    •  
  • 16755 E Nicklaus Drive Fountain Hills, AZ 5
    • 4 beds 4 baths ∙ 3,275 Sqft ∙ Built 1974 4 beds 4 baths ∙ 3,275 Sqft ∙ Built 1974
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.98
    •  
PROPERTY LISTING DETAILS
Lisa Murray
Re/max Excalibur
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6211924
Last Updated: 03/26/2021
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.

BESbswy