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15009 W Medinah Way Surprise, AZ 85374

3 Beds 2 Baths 2,370 sqft Built 2001

$599,400

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $252.91
  • 64 Days on Market
  • MLS # : 6176551
  • Updated Date : 03/06/2021 at 00:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,370 sqft
  • Baths : 2 full
Listing Agent

Re/max Professionals

Listing Agent's Description

Exceptional from 1st glance! Expanded ''Stonecrest'' model.Lrg Cul-de-sac lot landscaped to perfection.The entry has its own fountain. Welcoming home will surprise you with just how spacious & open it is. No carpet just beautiful wood look throughout.You will love the playful wall colors throughout. Great room/kitchen has a breakfast bar area for guests to enjoy. The new stainless appliance are a great accent to the granite countertops. Lots of cabinet & pantry space for all of your cooking supplies.Mstr bedroom suite has walk in closet, stand up corner shower, double sinks, private toilet room. 2 guest rooms & bath on opposite side of house.Gar w/ golf cart parking & storage. Wash/dryer,4 TVS & Grand Piano included in the sale of this home.(Additional furniture for sale outside of escrow.

SEE MORE

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
 

$539,460$659,340$599,400

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$2,082
Property Tax -$417
Property Insurance -$82
HOA -$11
Property Management Fees -$99
CASH FLOW
-$830

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.

$599,400

PROJECTED PRICE

$1,860

PROJECTED RENT

0.31%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,591

INVESTMENT

$164,591

Down Payment
$149,850
Rehab Estimate
$5,750
Closing Costs
$8,991

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,082

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $149,850
Loan Amount $449,550
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$99

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $1,890

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5003$1,8504$1,8605$1,895
$1,895
RENT COMPS ANALYSIS
  • 15009 W Medinah Way Surprise, AZ 4
    • 3 beds 2 baths ∙ 2,800 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,800 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.66
    •  
  • 15144 W Bola Drive Surprise, AZ 1
    • 3 beds 3 baths ∙ 2,493 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,493 Sqft ∙ Built 2005
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.60
    •  
  • 16446 N 152nd Avenue Surprise, AZ 2
    • 4 beds 3 baths ∙ 2,485 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,485 Sqft ∙ Built 2004
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.60
    •  
  • 16426 N 152nd Lane Surprise, AZ 3
    • 3 beds 3 baths ∙ 2,485 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,485 Sqft ∙ Built 2004
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.74
    •  
  • 15280 W Post Drive Surprise, AZ 5
    • 4 beds 3 baths ∙ 2,485 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,485 Sqft ∙ Built 2004
    LEASED 12/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.76
    •  
PROPERTY LISTING DETAILS
Karen Grieser
Re/max Professionals
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6176551
Last Updated: 03/06/2021
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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