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12009 W Caribbean Lane El Mirage, AZ 85335

4 Beds 2 Baths 1,642 sqft Built 2005

$270,000

List Price

$1,420

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $164.43
  • 2 Days on Market
  • MLS # : 6159398
  • Updated Date : 11/14/2020 at 02:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,642 sqft
  • Baths : 2 full
Listing Agent

Liv Az Realty

Listing Agent's Description

Beautiful family home in desired neighborhood. Great curb appeal with easy maintained landscape and new exterior paint. Meticulously kept, interior offers an open floor plan with custom paint and newer beautiful tile flooring. Split floor plan with bedrooms separated from master. Features include dual pane windows, vaulted ceilings, and built in entertainment center. Master suite offers large walk in closet, dual vanity in bathroom, as well as shower/tub. Well maintained landscaped backyard perfect for entertainment. Home shows pride of ownership by original owners. Don't miss your opportunity to own this lovely home. Won't last long!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: El Mirage

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $77k271k

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

Neighborhood: El Mirage

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7801567

* 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
Thompson Ranch Elementary School Primary Regular 979 46 2
Thompson Ranch Elementary School Middle Regular 979 46 2
Valley Vista High School High Regular 2,457 101 4

Thompson Ranch Elementary School

  • Education Level: Primary
  • # of students: 979
  • # of teachers: 46
2
GreatSchools Rating

Thompson Ranch Elementary School

  • Education Level: Middle
  • # of students: 979
  • # of teachers: 46
2
GreatSchools Rating

Valley Vista High School

  • Education Level: High
  • # of students: 2,457
  • # of teachers: 101
4
GreatSchools Rating
 

$243,000$297,000$270,000

PURCHASE PRICE

$1,278$1,562$1,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,420
EXPENSES Loan Payment -$996
Property Tax -$158
Property Insurance -$59
HOA -$8
Property Management Fees -$99
CASH FLOW
$100

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.

$270,000

PROJECTED PRICE

$1,420

PROJECTED RENT

0.53%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$30,004

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,420

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,420

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,325
1$1,3252$1,3953$1,4204$1,4255$1,500
$1,500
RENT COMPS ANALYSIS
  • 12009 W Caribbean Lane El Mirage, AZ 3
    • 4 beds 2 baths ∙ 1,642 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,642 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $0.86
    •  
  • 14815 N Tonya Circle El Mirage, AZ 1
    • 4 beds 2 baths ∙ 1,642 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,642 Sqft ∙ Built 2005
    LEASED 12/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.81
    •  
  • 11846 W Port Royale Lane El Mirage, AZ 2
    • 4 beds 2 baths ∙ 1,642 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,642 Sqft ∙ Built 2006
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.85
    •  
  • 15224 N El Frio Court El Mirage, AZ 4
    • 4 beds 2 baths ∙ 1,609 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,609 Sqft ∙ Built 2006
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.89
    •  
  • 12032 W Caribbean Lane El Mirage, AZ 5
    • 4 beds 2 baths ∙ 1,642 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,642 Sqft ∙ Built 2005
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.91
    •  
PROPERTY LISTING DETAILS
Armando Gonzalez
Liv Az Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6159398
Last Updated: 11/14/2020
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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