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13646 W Solano Drive Litchfield Park, AZ 85340

3 Beds 2 Baths 1,503 sqft Built 2002

$295,000

List Price

$1,390

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $196.27
  • 4 Days on Market
  • MLS # : 6191846
  • Updated Date : 02/18/2021 at 18:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,503 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Sonoran Living

Listing Agent's Description

You have to check out this beautiful 3 bedroom 2 bath home in Litchfield Park. Out front you have lovely curb appeal and low maintenance yard as well as a spacious 2 car garage. Inside you have neutral paint, plenty of natural light, and tons of space for entertaining. The kitchen includes more counter / cabinet space than you'll know what to do with and also features a breakfast bar. Out back you have a huge yard with a covered patio perfect for relaxing under while the kids swim in the sparkling blue pool. This one definitely won't last long in this hot market so make sure you check it out today! Just painted exterior and acid washed the pool.

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
 

$265,500$324,500$295,000

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 -$1,025
Property Tax -$186
Property Insurance -$57
HOA -$109
Property Management Fees -$99
CASH FLOW
-$85

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.

$295,000

PROJECTED PRICE

$1,390

PROJECTED RENT

0.47%

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$100k$200k$300k$400k$500k$600k$700k$800k$900k

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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,025

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$9,257

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,390

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,439

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,390
1$1,3902$1,3993$1,4954$1,5005$1,545
$1,545
RENT COMPS ANALYSIS
  • 13646 W Solano Drive Litchfield Park, AZ 1
    • 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $0.92
    •  
  • 13812 W Rancho Drive Litchfield Park, AZ 2
    • 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 2002
    LEASED 10/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $0.93
    •  
  • 13739 W Keim Drive Litchfield Park, AZ 3
    • 3 beds 2 baths ∙ 1,599 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,599 Sqft ∙ Built 2002
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.93
    •  
  • 5929 N Milano Court Litchfield Park, AZ 4
    • 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 2002
    LEASED 01/14/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.00
    •  
  • 6025 N Karina Court Litchfield Park, AZ 5
    • 4 beds 2 baths ∙ 1,599 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,599 Sqft ∙ Built 2003
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $0.97
    •  
PROPERTY LISTING DETAILS
Kassandra Noriega
Keller Williams Realty Sonoran Living
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6191846
Last Updated: 02/18/2021
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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