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14464 W Monterey Way Goodyear, AZ 85395

4 Beds 3 Baths 2,465 sqft Built 1998

$429,000

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1998
  • Price/Sqft : $174.04
  • 3 Days on Market
  • MLS # : 6156890
  • Updated Date : 11/07/2020 at 00:03
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,465 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homesmart

Listing Agent's Description

This freshly painted former model home is gorgeous. From the new ceramic wood plank flooring to the updated kitchen and bathrooms everything is perfect. The kitchen has new granite countertops, Blanco sink, refinished cabinets with nickel hardware and a gourmet Cosmo gas cooktop combination electric oven. The master bedroom has a huge master closet and an updated master bathroom with a stacked stone feature wall & new lighting. All bathrooms have been updated with granite countertops, sinks, faucets, & decorator shelves. Ceiling fans in all the bedrooms and family room. The expansive cool deck and covered patio offers plenty of space for entertaining. Backyard has huge diving pool with diving board. Home is located at end of street in a cul-de-sac next to a large HOA maintained park.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Palm Valley

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $122k369k

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

Neighborhood: Palm Valley

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10451981

* 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
Litchfield Elementary School Primary Regular 820 37 8
Litchfield Elementary School Middle Regular 820 37 8
Millennium High School High Regular 2,205 94 4

Litchfield Elementary School

  • Education Level: Primary
  • # of students: 820
  • # of teachers: 37
8
GreatSchools Rating

Litchfield Elementary School

  • Education Level: Middle
  • # of students: 820
  • # of teachers: 37
8
GreatSchools Rating

Millennium High School

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

$386,100$471,900$429,000

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$1,583
Property Tax -$359
Property Insurance -$75
HOA -$19
Property Management Fees -$99
CASH FLOW
-$255

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.

$429,000

PROJECTED PRICE

$1,880

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.2%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

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$119,435

INVESTMENT

$119,435

Down Payment
$107,250
Rehab Estimate
$5,750
Closing Costs
$6,435

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,583

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $107,250
Loan Amount $321,750
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$8,884

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,009

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8803$1,8954$2,2505$2,295
$2,295
RENT COMPS ANALYSIS
  • 14464 W Monterey Way Goodyear, AZ 2
    • 4 beds 3 baths ∙ 2,465 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,465 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $0.76
    •  
  • 3133 N 145th Lane Goodyear, AZ 1
    • 4 beds 3 baths ∙ 2,465 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,465 Sqft ∙ Built 2000
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.71
    •  
  • 14358 W Alvarado Drive Goodyear, AZ 3
    • 4 beds 2 baths ∙ 2,527 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,527 Sqft ∙ Built 2005
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.75
    •  
  • 14366 W Cypress Street Goodyear, AZ 4
    • 4 beds 2 baths ∙ 2,527 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,527 Sqft ∙ Built 2002
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.89
    •  
  • 14454 W Verde Lane W Goodyear, AZ 5
    • 4 beds 3 baths ∙ 2,529 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,529 Sqft ∙ Built 1999
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.91
    •  
PROPERTY LISTING DETAILS
Lisa A Dixon
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6156890
Last Updated: 11/07/2020
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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