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14688 N 162nd Lane -- Surprise, AZ 85379

4 Beds 2 Baths 1,602 sqft Built 2003

$325,000

List Price

$1,370

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $202.87
  • 2 Days on Market
  • MLS # : 6157515
  • Updated Date : 11/07/2020 at 02:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,602 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Phoenix

Listing Agent's Description

Single Level, 2 car garage, RV GATE, PRIVATE POOL + solar! Light & bright. New flooring, spacious kitchen with plenty of cabinets & counterspace. Breakfast bar. Kitchen opens to dining area & living area. Split master bedroom with en-suite bathroom that features large soaking tub, walk-in shower, + walk-in closet! Indoor laundry. Ceiling fans throughout and blinds on the windows. HUGE backyard like WOW! Plenty of room to add more than what is already there! Your private pool awaits. Mature trees and grass. Mountain views. This home is sure to please!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Legacy Parc

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $96k271k

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

Neighborhood: Legacy Parc

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2950100010501100115012001250130013501400145015001550Rent in $9321567

* 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
Countryside Elementary School Primary Regular 970 44 6
Countryside Elementary School Middle Regular 970 44 6
Shadow Ridge High School High Regular 1,735 77 4

Countryside Elementary School

  • Education Level: Primary
  • # of students: 970
  • # of teachers: 44
6
GreatSchools Rating

Countryside Elementary School

  • Education Level: Middle
  • # of students: 970
  • # of teachers: 44
6
GreatSchools Rating

Shadow Ridge High School

  • Education Level: High
  • # of students: 1,735
  • # of teachers: 77
4
GreatSchools Rating
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,233$1,507$1,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,370
EXPENSES Loan Payment -$1,199
Property Tax -$226
Property Insurance -$58
HOA -$55
Property Management Fees -$99
CASH FLOW
-$267

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.

$325,000

PROJECTED PRICE

$1,370

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 7.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$4,101

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,370

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,326

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3503$1,3704$1,3955$1,450
$1,450
RENT COMPS ANALYSIS
  • 14688 N 162nd Lane -- Surprise, AZ 3
    • 4 beds 2 baths ∙ 1,602 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,602 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $0.86
    •  
  • 16211 W Banff Lane Surprise, AZ 1
    • 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 2003
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.84
    •  
  • 16241 W Mauna Loa Lane Surprise, AZ 2
    • 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 2003
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.80
    •  
  • 15851 W Crocus Drive Surprise, AZ 4
    • 3 beds 2 baths ∙ 1,662 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,662 Sqft ∙ Built 2002
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.84
    •  
  • 14314 N 158th Lane Surprise, AZ 5
    • 4 beds 2 baths ∙ 1,756 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,756 Sqft ∙ Built 2002
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.83
    •  
PROPERTY LISTING DETAILS
James Patrick Sanson
Keller Williams Realty Phoenix
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6157515
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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