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14858 W Medinah Court Surprise, AZ 85374

2 Beds 2 Baths 1,138 sqft Built 2003

$255,000

List Price

$1,360

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 25, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $224.08
  • 5 Days on Market
  • MLS # : 6164932
  • Updated Date : 11/28/2020 at 18:16
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,138 sqft
  • Baths : 2 full
Listing Agent

Re/max Professionals

Listing Agent's Description

All you have to do is bring your Clothes. Fully Furnished two bedroom two bath home. This home sits on a cul-de- sac.The Kitchen has Granite countertop. The large covered patio is great for those morning cups of coffee. this is tile throughout the home.

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PRICE & RENT TRENDS

Neighborhood: Sun City Grand Desert Trails

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $109k356k

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

Neighborhood: Sun City Grand Desert Trails

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900200021002200Rent in $9792299

* 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
Kingswood Elementary School Primary Regular 674 36 4
Kingswood Elementary School Middle Regular 674 36 4
Willow Canyon High School High Regular 2,084 83 3

Kingswood Elementary School

  • Education Level: Primary
  • # of students: 674
  • # of teachers: 36
4
GreatSchools Rating

Kingswood Elementary School

  • Education Level: Middle
  • # of students: 674
  • # of teachers: 36
4
GreatSchools Rating

Willow Canyon High School

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

$229,500$280,500$255,000

PURCHASE PRICE

$1,224$1,496$1,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,360
EXPENSES Loan Payment -$941
Property Tax -$174
Property Insurance -$49
HOA -$11
Property Management Fees -$99
CASH FLOW
$86

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.

$255,000

PROJECTED PRICE

$1,360

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.0%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$941

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$27,750

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,360

    LIST RENT
  • $1.2

    LIST RENT PER SQFT
  • $1,414

    COMP ESTIMATED VALUE
  • $1.24

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,3503$1,3604$1,4005$1,500
$1,500
RENT COMPS ANALYSIS
  • 14858 W Medinah Court Surprise, AZ 3
    • 2 beds 2 baths ∙ 1,138 Sqft ∙ Built 2003 2 beds 2 baths ∙ 1,138 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,360
    • $1.20
    •  
  • 17201 N Larkspur Lane Surprise, AZ 1
    • 2 beds 2 baths ∙ 1,090 Sqft ∙ Built 1997 2 beds 2 baths ∙ 1,090 Sqft ∙ Built 1997
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.15
    •  
  • 14575 W Mountain View Boulevard #10126 Surprise, AZ 2
    • 2 beds 1 baths ∙ 1,034 Sqft ∙ Built 2006 2 beds 1 baths ∙ 1,034 Sqft ∙ Built 2006
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.31
    •  
  • 17919 N Reno Avenue Surprise, AZ 4
    • 2 beds 2 baths ∙ 1,187 Sqft ∙ Built 1998 2 beds 2 baths ∙ 1,187 Sqft ∙ Built 1998
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.18
    •  
  • 14575 W Mountain View Boulevard #223 Surprise, AZ 5
    • 2 beds 2 baths ∙ 1,130 Sqft ∙ Built 2006 2 beds 2 baths ∙ 1,130 Sqft ∙ Built 2006
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.33
    •  
PROPERTY LISTING DETAILS
Ellen Baker
Re/max Professionals
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6164932
Last Updated: 11/28/2020
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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