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12214 W Locust Lane Avondale, AZ 85323

3 Beds 2 Baths 1,880 sqft Built 2011

$299,900

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2011
  • Price/Sqft : $159.52
  • 4 Days on Market
  • MLS # : 6202233
  • Updated Date : 03/04/2021 at 18:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,880 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Sonoran Living

Listing Agent's Description

This is your chance to own a remarkable home in Avondale, Home of the NASCAR Championship weekend! The house offers an impressive curb appeal with stone accents and a gated entry. Step inside this beauty to find a bright open great room floor plan with designer paint, living & dining area, so much natural light and 3 newly carpeted bedrooms & bonus room. Enjoy cooking in this open kitchen with beautiful pendant & recessed lighting, 36'' beech cabinets with crown molding, centered island w/sink & breakfast bar, pantry, granite counter-tops, and SS appliances. Inside the master suite you'll find a lavish bathroom including a sitting/bonus room, dual sinks, walk-in closet, step-in shower, and a separate tub perfect to enjoy after a busy day.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Del Rio Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k283k

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

Neighborhood: Del Rio Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2850900950100010501100115012001250130013501400145015001550Rent in $8421567

* 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
La Joya Community High School High Regular 2,051 84 1

La Joya Community High School

  • Education Level: High
  • # of students: 2,051
  • # of teachers: 84
1
GreatSchools Rating
 

$269,910$329,890$299,900

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$1,042
Property Tax -$215
Property Insurance -$64
HOA -$65
Property Management Fees -$99
CASH FLOW
-$54

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.

$299,900

PROJECTED PRICE

$1,430

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 9.1%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$12,363

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,626

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,430
1$1,4302$1,5953$1,5954$1,6505$1,695
$1,695
RENT COMPS ANALYSIS
  • 12214 W Locust Lane Avondale, AZ 1
    • 3 beds 2 baths ∙ 1,880 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,880 Sqft ∙ Built 2011
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $0.76
    •  
  • 12171 W Chase Lane Avondale, AZ 2
    • 3 beds 3 baths ∙ 1,869 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,869 Sqft ∙ Built 2007
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.85
    •  
  • 12219 W Hadley Street Avondale, AZ 3
    • 4 beds 3 baths ∙ 1,914 Sqft ∙ Built 2003 4 beds 3 baths ∙ 1,914 Sqft ∙ Built 2003
    LEASED 03/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.83
    •  
  • 11959 W Belmont Drive Avondale, AZ 4
    • 3 beds 3 baths ∙ 1,856 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,856 Sqft ∙ Built 2002
    LEASED 02/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.89
    •  
  • 810 S 119th Avenue Avondale, AZ 5
    • 3 beds 2 baths ∙ 1,897 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,897 Sqft ∙ Built 2003
    LEASED 01/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.89
    •  
PROPERTY LISTING DETAILS
Laurie J Robbins
Keller Williams Realty Sonoran Living
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6202233
Last Updated: 03/04/2021
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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