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12929 W Hearn Road El Mirage, AZ 85335

4 Beds 3 Baths 2,178 sqft Built 2000

$340,000

List Price

$1,390

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $156.11
  • 5 Days on Market
  • MLS # : 6159054
  • Updated Date : 11/13/2020 at 12:12
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,178 sqft
  • Baths : 2 full , 1 half
Listing Agent

Equity Realty Group, Llc

Listing Agent's Description

Beautiful 2 story home, with new carpet, new paint, Upstairs has a large loft, backyard has a cover patio

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
 

$306,000$374,000$340,000

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,390
EXPENSES Loan Payment -$1,254
Property Tax -$199
Property Insurance -$70
HOA -$8
Property Management Fees -$99
CASH FLOW
-$240

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.

$340,000

PROJECTED PRICE

$1,390

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 10.0%
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-$6.0k-$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$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$6,290

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
  • $1,476

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,4003$1,4504$1,4955$1,595
$1,595
RENT COMPS ANALYSIS
  • 12929 W Hearn Road El Mirage, AZ 1
    • 4 beds 3 baths ∙ 2,178 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,178 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 14206 N 127th Avenue El Mirage, AZ 2
    • 4 beds 3 baths ∙ 2,178 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,178 Sqft ∙ Built 2002
    property image
    LEASED 12/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.64
    •  
  • 13232 W Watson Lane Surprise, AZ 3
    • 3 beds 3 baths ∙ 2,220 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,220 Sqft ∙ Built 2002
    property image
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.65
    •  
  • 12560 W St Moritz Lane El Mirage, AZ 4
    • 5 beds 3 baths ∙ 2,178 Sqft ∙ Built 2004 5 beds 3 baths ∙ 2,178 Sqft ∙ Built 2004
    property image
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.69
    •  
  • 13029 W Evans Drive El Mirage, AZ 5
    • 3 beds 3 baths ∙ 2,178 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,178 Sqft ∙ Built 2002
    property image
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.73
    •  
PROPERTY LISTING DETAILS
Eva M Cardona
Equity Realty Group, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6159054
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.

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