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12333 W Berridge Lane Litchfield Park, AZ 85340

3 Beds 2 Baths 1,862 sqft Built 2003

$390,000

List Price

$1,360

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $209.45
  • 4 Days on Market
  • MLS # : 6189701
  • Updated Date : 02/07/2021 at 01:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,862 sqft
  • Baths : 2 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

Welcome home to beautiful Litchfield Park. This gorgeous home has been remodeled throughout! Offering 3 bedrooms 2 bathrooms with a Den that can easily be turned into a 4th bedroom or home office! Recessed lighting throughout with ceiling fans in all the rooms! Open layout floor plan with a beautiful kitchen that has grey shaker kitchen cabinets tied in with quartz countertops & stainless steel appliances.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Wigwam Creek North

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $97k315k

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

Neighborhood: Wigwam Creek North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8581813

* 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
Barbara B. Robey Elementary School Primary Regular 793 37 6
Millennium High School High Regular 2,205 94 4

Barbara B. Robey Elementary School

  • Education Level: Primary
  • # of students: 793
  • # of teachers: 37
6
GreatSchools Rating

Millennium High School

  • Education Level: High
  • # of students: 2,205
  • # of teachers: 94
4
GreatSchools Rating
 

$351,000$429,000$390,000

PURCHASE PRICE

$1,224$1,496$1,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,360
EXPENSES Loan Payment -$1,355
Property Tax -$246
Property Insurance -$63
HOA -$54
Property Management Fees -$99
CASH FLOW
-$457

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$390,000

PROJECTED PRICE

$1,360

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

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$109,100

INVESTMENT

$109,100

Down Payment
$97,500
Rehab Estimate
$5,750
Closing Costs
$5,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,355

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $97,500
Loan Amount $292,500
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$475

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,360

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,406

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,360
1$1,3602$1,3803$1,4504$1,5005$1,595
$1,595
RENT COMPS ANALYSIS
  • 12333 W Berridge Lane Litchfield Park, AZ 1
    • 3 beds 2 baths ∙ 1,862 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,862 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,360
    • $0.73
    •  
  • 12417 W Solano Drive Litchfield Park, AZ 2
    • 4 beds 2 baths ∙ 1,782 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,782 Sqft ∙ Built 2003
    LEASED 03/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $0.77
    •  
  • 12451 W San Miguel Avenue Litchfield Park, AZ 3
    • 4 beds 3 baths ∙ 2,024 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,024 Sqft ∙ Built 2004
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.72
    •  
  • 12355 W Palo Verde Drive Litchfield Park, AZ 4
    • 4 beds 3 baths ∙ 2,038 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,038 Sqft ∙ Built 2004
    LEASED 09/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.74
    •  
  • 12470 W El Nido Lane Litchfield Park, AZ 5
    • 3 beds 3 baths ∙ 2,024 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,024 Sqft ∙ Built 2004
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.79
    •  
PROPERTY LISTING DETAILS
Preston White
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6189701
Last Updated: 02/07/2021
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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