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12841 W Crocus Drive El Mirage, AZ 85335

3 Beds 2 Baths 1,685 sqft Built 2001

INVESTimate

$270,000

List Price

$1,240

$1,116 - $1,364

Rent Est.

$296,892  ( +9.96%)   1 YR EST. FORECAST

PROPERTY INFO

August 26, 2020 RECENTLY ADDED
FACTS
  • Built In 2001
  • Price/Sqft : $160.24
  • 2 Days on Market
  • MLS # : 6122504
  • Updated Date : 08/25/2020 at 19:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,685 sqft
  • Baths : 2 full
Listing Agent

Realty One Group

Listing Agent's Description

Great home for sale on a corner lot in a quiet neighborhood! The living areas have vaulted ceilings and tons of space for entertaining! Kitchen has island with breakfast bar, dining area and tons of storage space! Large master has large closet and bathroom with extended vanity & extra storage space. Great location that is close to shopping & dining and easy US 60 access! Seller has solar lease in place with APS for them to use his roof! Buyer gets to assume and gets paid $360 per year!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Rancho El Mirage

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $77k271k

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

Neighborhood: Rancho 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
Surprise Elementary School Primary Regular 901 53 4
Surprise Elementary School Middle Regular 901 53 4
Valley Vista High School High Regular 2,457 101 4

Surprise Elementary School

  • Education Level: Primary
  • # of students: 901
  • # of teachers: 53
4
GreatSchools Rating

Surprise Elementary School

  • Education Level: Middle
  • # of students: 901
  • # of teachers: 53
4
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

$1,116$1,364$1,240

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,240
EXPENSES Loan Payment -$996
Property Tax -$158
Property Insurance -$60
HOA -$29
Property Management Fees -$99
CASH FLOW
-$102

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

$1,240

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 9.96%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
Length of Stay Years 2

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 55% 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

3.67

YEARS SAVED

$10,626

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,240

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,356

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,240
1$1,2402$1,2503$1,2504$1,2505$1,295
$1,295
RENT COMPS ANALYSIS
  • 12841 W Crocus Drive El Mirage, 1
    • 3 beds 2 baths ∙ 1,685 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,685 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,240
    • $0.74
    •  
  • 12729 W Mandalay Lane El Mirage, 2
    • 3 beds 2 baths ∙ 1,524 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,524 Sqft ∙ Built 2004
    property image
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.82
    •  
  • 14405 N Gil Balcome Lane Surprise, 3
    • 4 beds 2 baths ∙ 1,527 Sqft ∙ Built 2000 4 beds 2 baths ∙ 1,527 Sqft ∙ Built 2000
    property image
    LEASED 11/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.82
    •  
  • 12737 W Ventura Street El Mirage, 4
    • 4 beds 2 baths ∙ 1,534 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,534 Sqft ∙ Built 2002
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.81
    •  
  • 12822 W Via Camille Road El Mirage, 5
    • 3 beds 2 baths ∙ 1,685 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,685 Sqft ∙ Built 2001
    property image
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.77
    •  
PROPERTY LISTING DETAILS
Cheryl Benjamin
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6122504
Last Updated: 08/25/2020
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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