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

12641 W Merrell Street Avondale, AZ 85392

5 Beds 4 Baths 3,200 sqft Built 2001

$369,900

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $115.59
  • 3 Days on Market
  • MLS # : 6159134
  • Updated Date : 11/13/2020 at 12:12
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,200 sqft
  • Baths : 3 full , 1 half
Listing Agent

My Home Group Real Estate

Listing Agent's Description

Situated on one of the largest lots in Corte Sierra, this home has amazing potential. With over 3,000 sq ft of living, 5 bedrooms and 3.5 bathrooms, any growing family can appreciate this space. Downstairs offers a mother-in-law suite perfect for guest privacy or a multi-gen family to have their own separate living quarters. A full bath plus a powder room downstairs also makes for an efficient living space. A large formal dining room, great room, and family room accompany the downstairs living area. There is also a permitted, enclosed, and air conditioned patio downstairs to allow for even more opportunities to utilize this large home. Upstairs you will find the master suite, 3 additional bedrooms, and an oversized office. The spacious master bedroom is greeted with French doors and high

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Corte Sierra

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $100k271k

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

Neighborhood: Corte Sierra

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
Corte Sierra Elementary School Primary Regular 828 37 7
Wigwam Creek Middle School Middle Regular 927 39 8
Agua Fria High School High Regular 1,725 92 4

Corte Sierra Elementary School

  • Education Level: Primary
  • # of students: 828
  • # of teachers: 37
7
GreatSchools Rating

Wigwam Creek Middle School

  • Education Level: Middle
  • # of students: 927
  • # of teachers: 39
8
GreatSchools Rating

Agua Fria High School

  • Education Level: High
  • # of students: 1,725
  • # of teachers: 92
4
GreatSchools Rating
 

$332,910$406,890$369,900

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$1,365
Property Tax -$234
Property Insurance -$90
HOA -$52
Property Management Fees -$99
CASH FLOW
$41

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.

$369,900

PROJECTED PRICE

$1,880

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 7.2%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$103,774

INVESTMENT

$103,774

Down Payment
$92,475
Rehab Estimate
$5,750
Closing Costs
$5,549

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,365

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $92,475
Loan Amount $277,425
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$30,707

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $0.59

    LIST RENT PER SQFT
  • $2,096

    COMP ESTIMATED VALUE
  • $0.66

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8803$1,9954$2,0005$2,600
$2,600
RENT COMPS ANALYSIS
  • 12641 W Merrell Street Avondale, AZ 2
    • 5 beds 4 baths ∙ 3,200 Sqft ∙ Built 2001 5 beds 4 baths ∙ 3,200 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $0.59
    •  
  • 11960 W Sheridan Street Avondale, AZ 1
    • 5 beds 4 baths ∙ 3,245 Sqft ∙ Built 2006 5 beds 4 baths ∙ 3,245 Sqft ∙ Built 2006
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.57
    •  
  • 13317 W Indianola Avenue Litchfield Park, AZ 3
    • 4 beds 3 baths ∙ 3,037 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,037 Sqft ∙ Built 2005
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.66
    •  
  • 2106 N 120th Drive Avondale, AZ 4
    • 4 beds 3 baths ∙ 3,150 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,150 Sqft ∙ Built 2006
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.63
    •  
  • 12021 W Cypress Street Avondale, AZ 5
    • 6 beds 4 baths ∙ 3,430 Sqft ∙ Built 2006 6 beds 4 baths ∙ 3,430 Sqft ∙ Built 2006
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.76
    •  
PROPERTY LISTING DETAILS
Catlin Henderson
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6159134
Last Updated: 11/13/2020
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.

BESbswy