Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1493 S Ocotillo Drive Apache Junction, AZ 85120

2 Beds 2 Baths 1,474 sqft Built 1975

$245,000

List Price

$1,280

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1975
  • Price/Sqft : $166.21
  • 2 Days on Market
  • MLS # : 6148379
  • Updated Date : 11/14/2020 at 10:54
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,474 sqft
  • Baths : 2 full
Listing Agent

Lori Blank & Associates, Llc

Listing Agent's Description

ADORABLE FURNISHED HOME IN THE DESIRABLE 55+ COMMUNITY OF APACHE VILLA. ROOF REPLACED IN 2011, AC IN 2019. EXTRA LARGE KITCHEN OR USE IT AS A FAMILY ROOM/EAT IN KITCHEN. NEWER APPLIANCES, GRANITE COUNTER TOPS, LARGE BREAKFAST BAR. LOTS AND LOTS OF STORAGE CABINETS INSIDE AND OUT. ENCLOSED ARIZONA ROOM FOR THE BEAUTIFUL WEATHER COMING JUST AROUND THE CORNER. SEPARATE LAUNDRY ROOM (OFF ARIZONA RM) WHICH INCLUDE THE WASHER AND DRYER AND ADDITIONAL STORAGE. CAR PORT. NICE BACK YARD WITH MATURE PRODUCING CITRUS TREES AND SHED. RV GATE, FENCED, AND BACKS TO AN ALLEY. THERE IS AN OPTIONAL $250 A YEAR HOA FEE TO HAVE ACCESS TO THE ''SOCIAL'' CENTERS.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Apache Junction

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: Apache Junction

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8621567

* 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
Four Peaks Elementary School Primary Regular 686 37 6
Four Peaks Elementary School Middle Regular 686 37 6
Apache Junction High School High Regular 1,304 69 3

Four Peaks Elementary School

  • Education Level: Primary
  • # of students: 686
  • # of teachers: 37
6
GreatSchools Rating

Four Peaks Elementary School

  • Education Level: Middle
  • # of students: 686
  • # of teachers: 37
6
GreatSchools Rating

Apache Junction High School

  • Education Level: High
  • # of students: 1,304
  • # of teachers: 69
3
GreatSchools Rating
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,152$1,408$1,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,280
EXPENSES Loan Payment -$904
Property Tax -$129
Property Insurance -$56
HOA -$2
Property Management Fees -$99
CASH FLOW
$90

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.

$245,000

PROJECTED PRICE

$1,280

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 8.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$904

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$27,488

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,280

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,481

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,2503$1,280
$1,280
RENT COMPS ANALYSIS
  • 1493 S Ocotillo Drive Apache Junction, AZ 3
    • 2 beds 2 baths ∙ 1,474 Sqft ∙ Built 1975 2 beds 2 baths ∙ 1,474 Sqft ∙ Built 1975
    • Rent
    • Rent Per SQFT
    •  
    • $1,280
    • $0.87
    •  
  • 1924 W 13th Avenue Apache Junction, AZ 1
    • 2 beds 2 baths ∙ 1,174 Sqft ∙ Built 1982 2 beds 2 baths ∙ 1,174 Sqft ∙ Built 1982
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.98
    •  
  • 1968 W 13th Avenue Apache Junction, AZ 2
    • 2 beds 2 baths ∙ 1,211 Sqft ∙ Built 1981 2 beds 2 baths ∙ 1,211 Sqft ∙ Built 1981
    LEASED 11/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.03
    •  
PROPERTY LISTING DETAILS
Zachary Jensen
Lori Blank & Associates, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6148379
Last Updated: 11/14/2020
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.

BESbswy