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1273 S Ironwood Drive Apache Junction, AZ 85120

3 Beds 2 Baths 1,893 sqft Built 1971

$300,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1971
  • Price/Sqft : $158.48
  • 2 Days on Market
  • MLS # : 6155189
  • Updated Date : 11/02/2020 at 14:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,893 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

NO HOA! Bring your boat, RV and all your toys! This single level POOL home has all new windows in 2017 and an updated kitchen including newer cabinets, stainless steel appliances and granite countertops with large island with seating! The kitchen flows effortlessly into a large bonus room or use as extra living space. The family room is anchored by a lovely wood burning fireplace and opens to a spacious dining area with access out to the fully fenced backyard. The outdoor space offers a huge covered patio, sparkling diving pool, spa and a storage shed. The master bedroom has a walk-in closet and upgraded bathroom with a beautifully tiled shower. The 2 additional bedrooms, a full bathroom with new tub/shower and a large

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Apache Junction

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: Apache Junction

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8621567

* 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
Desert Vista Elementary School Primary Regular 697 34 4
Cactus Canyon Junior High School Middle Regular 780 40 4
Apache Junction High School High Regular 1,304 69 3

Desert Vista Elementary School

  • Education Level: Primary
  • # of students: 697
  • # of teachers: 34
4
GreatSchools Rating

Cactus Canyon Junior High School

  • Education Level: Middle
  • # of students: 780
  • # of teachers: 40
4
GreatSchools Rating

Apache Junction High School

  • Education Level: High
  • # of students: 1,304
  • # of teachers: 69
3
GreatSchools Rating
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$1,107
Property Tax -$122
Property Insurance -$64
Property Management Fees -$99
CASH FLOW
$208

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.

$300,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 8.9%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

9.42

YEARS SAVED

$45,860

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $2,007

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,630
$1,630
RENT COMPS ANALYSIS
  • 1273 S Ironwood Drive Apache Junction, AZ 1
    • 3 beds 2 baths ∙ 1,893 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,893 Sqft ∙ Built 1971
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 11502 E Crescent Avenue Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,544 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,544 Sqft ∙ Built 1983
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $1.06
    •  
PROPERTY LISTING DETAILS
Eric Wiebe
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6155189
Last Updated: 11/02/2020
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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