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14583 W Cheery Lynn Drive Goodyear, AZ 85395

4 Beds 3 Baths 3,476 sqft Built 2000

$525,000

List Price

$2,080

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $151.04
  • 5 Days on Market
  • MLS # : 6198835
  • Updated Date : 03/02/2021 at 23:33
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,476 sqft
  • Baths : 3 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

This is a unique home in the desirable Palm Valley Community. The kitchen and bathrooms have been updated with quarts countertops. The downstairs bedroom is approximately 21 x 16'. It makes a great in-law suite or man cave. Plenty of room for a pool table. One of the secondary bedrooms upstairs is approximately 21' x 10'. There is a loft area that can be used in many different ways. The backyard has a large patio and pool and storage shed. Interior and Exterior have recently been painted. Roof over the patio was replaced 2021. There is a pool fence that is not currently in use but can convey with the house.

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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
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
 

$472,500$577,500$525,000

PURCHASE PRICE

$1,872$2,288$2,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,080
EXPENSES Loan Payment -$1,824
Property Tax -$440
Property Insurance -$95
HOA -$20
Property Management Fees -$99
CASH FLOW
-$397

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.

$525,000

PROJECTED PRICE

$2,080

PROJECTED RENT

0.40%

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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$144,875

INVESTMENT

$144,875

Down Payment
$131,250
Rehab Estimate
$5,750
Closing Costs
$7,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,824

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $131,250
Loan Amount $393,750
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$4,373

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $2,268

    COMP ESTIMATED VALUE
  • $0.65

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,2003$2,2004$2,3955$2,400
$2,400
RENT COMPS ANALYSIS
  • 14583 W Cheery Lynn Drive Goodyear, AZ 1
    • 4 beds 3 baths ∙ 3,476 Sqft ∙ Built 2000 4 beds 3 baths ∙ 3,476 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 13970 W Woodbridge Avenue Goodyear, AZ 2
    • 4 beds 3 baths ∙ 3,412 Sqft ∙ Built 2004 4 beds 3 baths ∙ 3,412 Sqft ∙ Built 2004
    property image
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.64
    •  
  • 13971 W Woodbridge Avenue Goodyear, AZ 3
    • 4 beds 3 baths ∙ 3,344 Sqft ∙ Built 2004 4 beds 3 baths ∙ 3,344 Sqft ∙ Built 2004
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.66
    •  
  • 14983 W Windward Avenue Goodyear, AZ 4
    • 5 beds 4 baths ∙ 3,707 Sqft ∙ Built 2005 5 beds 4 baths ∙ 3,707 Sqft ∙ Built 2005
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.65
    •  
  • 2739 N 144th Drive Goodyear, AZ 5
    • 4 beds 4 baths ∙ 3,615 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,615 Sqft ∙ Built 2004
    property image
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.66
    •  
PROPERTY LISTING DETAILS
Bill T Rose
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6198835
Last Updated: 03/02/2021
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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