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14198 W Fairmount Avenue Goodyear, AZ 85395

4 Beds 3 Baths 2,635 sqft Built 2001

$425,000

List Price

$2,090

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $161.29
  • 3 Days on Market
  • MLS # : 6193817
  • Updated Date : 02/12/2021 at 22:42
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,635 sqft
  • Baths : 3 full
Listing Agent

Desert River Realty

Listing Agent's Description

Just remodeling House with designer paint and New carpet for Great 4 bedroom, 3 bath home with Flex room and Loft on 2nd floor with double door RV gate. Living/dining & big open family room/kitchen. Beautiful maple cabinets, island with breakfast bar, Corian counter tops, R/0 System under the sink, pantry, recessed lighting. Ceiling fans, 2' blinds. Master suite has 2 walk in closets, separate tub and shower, 2 sinks. Nice pool with fence. All appliances , water softener and backyard storage convey. Close to shopping area and Freeway.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Wigwam

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Wigwam

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10341981

* 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
Millennium High School High Regular 2,205 94 4

Millennium High School

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

$382,500$467,500$425,000

PURCHASE PRICE

$1,881$2,299$2,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,090
EXPENSES Loan Payment -$1,476
Property Tax -$304
Property Insurance -$79
HOA -$44
Property Management Fees -$99
CASH FLOW
$88

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.

$425,000

PROJECTED PRICE

$2,090

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 8.0%
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$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$30,610

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,090

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,431

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,0903$2,2954$2,6005$2,850
$2,850
RENT COMPS ANALYSIS
  • 14198 W Fairmount Avenue Goodyear, AZ 2
    • 4 beds 3 baths ∙ 2,635 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,635 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $0.79
    •  
  • 13618 W Pinchot Avenue Avondale, AZ 1
    • 5 beds 3 baths ∙ 2,545 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,545 Sqft ∙ Built 2006
    LEASED 01/30/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.79
    •  
  • 14454 W Verde Lane W Goodyear, AZ 3
    • 4 beds 3 baths ∙ 2,529 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,529 Sqft ∙ Built 1999
    LEASED 11/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.91
    •  
  • 14817 W Hillside Street Goodyear, AZ 4
    • 4 beds 3 baths ∙ 2,680 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,680 Sqft ∙ Built 2001
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.97
    •  
  • 754 W Juniper Lane Litchfield Park, AZ 5
    • 5 beds 4 baths ∙ 2,806 Sqft ∙ Built 2004 5 beds 4 baths ∙ 2,806 Sqft ∙ Built 2004
    LEASED 08/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.02
    •  
PROPERTY LISTING DETAILS
Lethe Lew
Desert River Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6193817
Last Updated: 02/12/2021
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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