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13758 W Caribbean Lane Surprise, AZ 85379

4 Beds 2 Baths 1,756 sqft Built 2004

INVESTimate

$300,000

List Price

$1,500

$1,350 - $1,650

Rent Est.

$318,600  ( +6.20%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $170.84
  • 7 Days on Market
  • MLS # : 6118913
  • Updated Date : 08/20/2020 at 14:19
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,756 sqft
  • Baths : 1 full , 1 half
Listing Agent

My Home Group Real Estate

Listing Agent's Description

Beautiful 4 bedroom, 2 bathroom cul-de-sac home in Surprise! This wonderful corner lot home has immaculate desert landscaping! Inside the home, there is neutral-toned paint, beautiful wood-like flooring and arched entryways throughout that enhance the space! The formal living room and dining room are great for gathering with family on special occasions. Your family room next to the kitchen allows you to entertain while you cook! Your stunning kitchen features beautiful cabinets, granite countertops, stainless steel appliances, a pantry and an island with a breakfast bar! Each of the bedrooms are vast in size with plenty of closet space. Step outside to your large backyard! You have plenty of space to design your own personal oasis! Your new home is located nearby schools, parks,

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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
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,350$1,650$1,500

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$1,107
Property Tax -$184
Property Insurance -$61
HOA -$50
Property Management Fees -$99
CASH FLOW
-$1

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.

$300,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.20%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$21,553

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,519

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4003$1,4504$1,5005$1,525
$1,525
RENT COMPS ANALYSIS
  • 13758 W Caribbean Lane Surprise, 4
    • 4 beds 2 baths ∙ 1,756 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,756 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.85
    •  
  • 13798 W Port Royale Lane Surprise, 1
    • 4 beds 2 baths ∙ 1,608 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,608 Sqft ∙ Built 2004
    property image
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.87
    •  
  • 13920 W Maui Lane Surprise, 2
    • 4 beds 2 baths ∙ 1,613 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,613 Sqft ∙ Built 2004
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.87
    •  
  • 13792 W Country Gables Drive Surprise, 3
    • 4 beds 2 baths ∙ 1,714 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,714 Sqft ∙ Built 2004
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.85
    •  
  • 13821 W Caribbean Lane Surprise, 5
    • 4 beds 2 baths ∙ 1,756 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,756 Sqft ∙ Built 2004
    property image
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.87
    •  
PROPERTY LISTING DETAILS
George Laughton
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6118913
Last Updated: 08/20/2020
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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