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11940 N 89th Drive Peoria, AZ 85345

4 Beds 3 Baths 2,054 sqft Built 1997

$365,000

List Price

$1,780

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $177.70
  • 5 Days on Market
  • MLS # : 6171203
  • Updated Date : 01/13/2021 at 18:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,054 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty Phoenix

Listing Agent's Description

The most stunning, upgraded 4 bed 2.5 bath with a loft that you'll find on market, don't wait! Upon entering this two-story home, arch ways, gorgeous tile, modern paint pallet, and open concept floor plan greet you. Past the formal living room & dining area is the large family room and kitchen combo. Cozy chef's kitchen boasts an island, tons of cabinetry, a breakfast nook and a view of the backyard! All secondary bedrooms are located upstairs along with a relaxing loft that is perfect for a media room or second family room! Master bedroom retreat is perfect for any style of living with large viewing windows, double door entry, and an attached spa like master bathroom. Backyard oasis was made for entertaining with, a covered patio, fenced in sparkling blue pool!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Granite Run

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k289k

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

Neighborhood: Granite Run

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8081793

* 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
Cheyenne Elementary School Primary Regular 709 37 5
Cheyenne Elementary School Middle Regular 709 37 5
Peoria High School High Regular 1,511 67 3

Cheyenne Elementary School

  • Education Level: Primary
  • # of students: 709
  • # of teachers: 37
5
GreatSchools Rating

Cheyenne Elementary School

  • Education Level: Middle
  • # of students: 709
  • # of teachers: 37
5
GreatSchools Rating

Peoria High School

  • Education Level: High
  • # of students: 1,511
  • # of teachers: 67
3
GreatSchools Rating
 

$328,500$401,500$365,000

PURCHASE PRICE

$1,602$1,958$1,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,780
EXPENSES Loan Payment -$1,268
Property Tax -$198
Property Insurance -$67
HOA -$5
Property Management Fees -$99
CASH FLOW
$143

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.

$365,000

PROJECTED PRICE

$1,780

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 8.1%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$102,475

INVESTMENT

$102,475

Down Payment
$91,250
Rehab Estimate
$5,750
Closing Costs
$5,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,268

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $91,250
Loan Amount $273,750
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$35,167

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,780

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,669

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5953$1,6504$1,6955$1,780
$1,780
RENT COMPS ANALYSIS
  • 11940 N 89th Drive Peoria, AZ 5
    • 4 beds 2 baths ∙ 2,054 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,054 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $0.87
    •  
  • 9250 W Gary Road Peoria, AZ 1
    • 4 beds 3 baths ∙ 1,974 Sqft ∙ Built 1986 4 beds 3 baths ∙ 1,974 Sqft ∙ Built 1986
    LEASED 09/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.79
    •  
  • 9208 W Cholla Street Peoria, AZ 2
    • 4 beds 3 baths ∙ 1,974 Sqft ∙ Built 1987 4 beds 3 baths ∙ 1,974 Sqft ∙ Built 1987
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.81
    •  
  • 8916 W Paradise Drive Peoria, AZ 3
    • 4 beds 3 baths ∙ 2,054 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,054 Sqft ∙ Built 1998
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.80
    •  
  • 11972 N 85th Avenue Peoria, AZ 4
    • 4 beds 2 baths ∙ 1,999 Sqft ∙ Built 1997 4 beds 2 baths ∙ 1,999 Sqft ∙ Built 1997
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.85
    •  
PROPERTY LISTING DETAILS
Brian Gubernick
Keller Williams Realty Phoenix
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6171203
Last Updated: 01/13/2021
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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