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13439 W Berridge Lane Litchfield Park, AZ 85340

4 Beds 3 Baths 2,235 sqft Built 2003

$310,000

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $138.70
  • 2 Days on Market
  • MLS # : 6194086
  • Updated Date : 02/13/2021 at 18:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,235 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homesmart

Listing Agent's Description

Beautiful 4 bedroom home in highly sought after Dreaming Summit subdivision. 4 Bedrooms + Den + large loft. Downstairs has Large Kitchen that overlooks the Dining and living rooms with an open floor plan. Den downstairs is perfect for an office or 5th Bedroom. Upstairs offers a large spacious loft, Master bedroom suite featuring a large walk-in closet, and 3 other bedrooms.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Dreaming Summit

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Dreaming Summit

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10361981

* 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
Dreaming Summit Elementary School Primary Regular 837 36 7
Millennium High School High Regular 2,205 94 4

Dreaming Summit Elementary School

  • Education Level: Primary
  • # of students: 837
  • # of teachers: 36
7
GreatSchools Rating

Millennium High School

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

$279,000$341,000$310,000

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$1,077
Property Tax -$196
Property Insurance -$71
HOA -$168
Property Management Fees -$99
CASH FLOW
-$40

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.

$310,000

PROJECTED PRICE

$1,570

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,077

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$12,285

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
  • $1,754

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,6003$1,7004$1,7505$1,750
$1,750
RENT COMPS ANALYSIS
  • 13439 W Berridge Lane Litchfield Park, AZ 1
    • 4 beds 3 baths ∙ 2,235 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,235 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 13224 W Stella Lane Litchfield Park, AZ 2
    • 4 beds 2 baths ∙ 2,040 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,040 Sqft ∙ Built 2002
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.78
    •  
  • 13426 W Rovey Avenue Litchfield Park, AZ 3
    • 3 beds 3 baths ∙ 2,235 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,235 Sqft ∙ Built 2003
    LEASED 01/13/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.76
    •  
  • 13812 W Palo Verde Drive Litchfield Park, AZ 4
    • 4 beds 3 baths ∙ 2,166 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,166 Sqft ∙ Built 2002
    LEASED 04/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.81
    •  
  • 5521 N Castano Drive Litchfield Park, AZ 5
    • 4 beds 2 baths ∙ 2,205 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,205 Sqft ∙ Built 2002
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.79
    •  
PROPERTY LISTING DETAILS
Alex Martinez
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6194086
Last Updated: 02/13/2021
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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