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14248 W Artemisa Avenue Surprise, AZ 85387

4 Beds 2 Baths 2,379 sqft Built 2020

$535,000

List Price

$2,290

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
SINGLE-FAMILY
March 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $224.88
  • 2 Days on Market
  • MLS # : 6212826
  • Updated Date : 03/26/2021 at 22:41
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,379 sqft
  • Baths : 2 full
Listing Agent

Realty One Group

Listing Agent's Description

NO LOTTERY! NO BUILD TIME! MOVE IN READY HOME! 4 Bedroom, 2.5 Bath home with a great room and 3 car garage in the highly desired Rancho Mercado Community. Upgraded kitchen with granite countertops, stainless steel appliances, induction cooktop, double wall oven/micro and upgraded cabinets. Beautiful plank tile throughout and upgrade carpet in bedrooms. Larger lot with covered patio, and no neighbors behind you. There are walking/biking paths along with many parks. Easy access to Loop 303 and close to shops and restaurants at Lake Pleasant Pkwy and Happy Valley.

SEE MORE

PRICE & RENT TRENDS

Zip Code: 85387

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $120k358k

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

Zip Code: 85387

ZipNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9791981

* 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
Willow Canyon High School High Regular 2,084 83 3

Willow Canyon High School

  • Education Level: High
  • # of students: 2,084
  • # of teachers: 83
3
GreatSchools Rating
 

$481,500$588,500$535,000

PURCHASE PRICE

$2,061$2,519$2,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,290
EXPENSES Loan Payment -$1,858
Property Tax -$320
Property Insurance -$74
HOA -$79
Property Management Fees -$99
CASH FLOW
-$140

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$535,000

PROJECTED PRICE

$2,290

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.0%
Maintenance Year (1-5) 3.00%
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-$5.0k$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$143,775

INVESTMENT

$143,775

Down Payment
$133,750
Rehab Estimate
$2,000
Closing Costs
$8,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,858

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $133,750
Loan Amount $401,250
See What Happens When You Reinvest Cash Flow

3.83

YEARS SAVED

$19,025

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,290

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $2,244

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,0503$2,2504$2,290
$2,290
RENT COMPS ANALYSIS
  • 14248 W Artemisa Avenue Surprise, AZ 4
    • 4 beds 2 baths ∙ 2,379 Sqft ∙ Built 2020 4 beds 2 baths ∙ 2,379 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $0.96
    •  
  • 13651 W Paso Trail Peoria, AZ 1
    • 3 beds 3 baths ∙ 2,258 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,258 Sqft ∙ Built 2017
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.86
    •  
  • 13562 W Desert Moon Way Peoria, AZ 2
    • 3 beds 2 baths ∙ 2,092 Sqft ∙ Built 2017 3 beds 2 baths ∙ 2,092 Sqft ∙ Built 2017
    property image
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.98
    •  
  • 25929 N 137th Lane Peoria, AZ 3
    • 3 beds 3 baths ∙ 2,282 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,282 Sqft ∙ Built 2018
    property image
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.99
    •  
PROPERTY LISTING DETAILS
Russell Reed
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6212826
Last Updated: 03/26/2021
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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