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13616 W Banff Lane Surprise, AZ 85379

5 Beds 3 Baths 2,950 sqft Built 2004

$335,000

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $113.56
  • 3 Days on Market
  • MLS # : 6159883
  • Updated Date : 11/13/2020 at 16:25
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,950 sqft
  • Baths : 3 full
Listing Agent

Realty One Group

Listing Agent's Description

**open Floor plan updated**5 bed 3 bath 3 car garage**Plenty of parking spaces on driveway to fit all your vehicles, Features Newer Flooring and Water heater** pre plumb for sink in garage and water softener, Freshly painted Exterior, Interior walls have been painted white. A fresh canvas ready for a new owner to get creative with, Shutters throughout, Kitchen has Granite Counters and plenty of cabinets. Located in the heart of Surprise just minutes from Surprise Stadium and shopping centers.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Litchfield Manor

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $109k281k

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

Neighborhood: Litchfield Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9791643

* 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
Parkview Elementary School Primary Regular 880 44 3
Parkview Elementary School Middle Regular 880 44 3
Valley Vista High School High Regular 2,457 101 4

Parkview Elementary School

  • Education Level: Primary
  • # of students: 880
  • # of teachers: 44
3
GreatSchools Rating

Parkview Elementary School

  • Education Level: Middle
  • # of students: 880
  • # of teachers: 44
3
GreatSchools Rating

Valley Vista High School

  • Education Level: High
  • # of students: 2,457
  • # of teachers: 101
4
GreatSchools Rating
 

$301,500$368,500$335,000

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$1,236
Property Tax -$205
Property Insurance -$85
HOA -$17
Property Management Fees -$99
CASH FLOW
-$22

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.

$335,000

PROJECTED PRICE

$1,620

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.2%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,236

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$22,498

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.55

    LIST RENT PER SQFT
  • $1,689

    COMP ESTIMATED VALUE
  • $0.57

    COMP AVG. RENT PER SQFT
Comps Range
$1,620
1$1,6202$1,6493$1,6504$1,6505$1,750
$1,750
RENT COMPS ANALYSIS
  • 13616 W Banff Lane Surprise, AZ 1
    • 5 beds 3 baths ∙ 2,950 Sqft ∙ Built 2004 5 beds 3 baths ∙ 2,950 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.55
    •  
  • 13629 W Evans Drive Surprise, AZ 2
    • 4 beds 3 baths ∙ 3,073 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,073 Sqft ∙ Built 2005
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,649
    • $0.54
    •  
  • 13575 W Gelding Drive Surprise, AZ 3
    • 4 beds 3 baths ∙ 3,073 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,073 Sqft ∙ Built 2005
    property image
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.54
    •  
  • 14732 N 136th Lane Surprise, AZ 4
    • 4 beds 3 baths ∙ 2,761 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,761 Sqft ∙ Built 2004
    property image
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.60
    •  
  • 13249 W Watson Lane Surprise, AZ 5
    • 4 beds 3 baths ∙ 2,847 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,847 Sqft ∙ Built 2002
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.61
    •  
PROPERTY LISTING DETAILS
Richard Sok
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6159883
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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