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15079 W Heritage Oak Way Surprise, AZ 85374

3 Beds 3 Baths 1,518 sqft Built 1996

$280,000

List Price

$1,410

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $184.45
  • 3 Days on Market
  • MLS # : 6162974
  • Updated Date : 11/20/2020 at 22:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,518 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homesmart

Listing Agent's Description

This great home 3 BR/2.5 BA and a 2 car garage with a sparkling heated pool. You will notice the great curb appeal with the main front yard and main back yard with new artificial grass. Enjoy your backyard paradise securely with a block wall fence. Pool has been inspected and works perfectly, with newer heater and filter. Fantastic home in a in-demand subdivision, near Kingswood Elementary. Kingswood Parke is a lake subdivision near Surprise shopping, entertainment and dining and convienent to the Loop 303 and Bell. Offers will be reviewed by the Seller on Monday 11-23-20 by 5 PM and each day thereafter at approximately the same time if needed.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Kingswood Parke

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $89k271k

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

Neighborhood: Kingswood Parke

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8921567

* 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
 

$252,000$308,000$280,000

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$1,033
Property Tax -$168
Property Insurance -$57
HOA -$14
Property Management Fees -$99
CASH FLOW
$40

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.

$280,000

PROJECTED PRICE

$1,410

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 10.0%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$24,907

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
  • $1,480

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,3253$1,4504$1,4505$1,595
$1,595
RENT COMPS ANALYSIS
  • 15079 W Heritage Oak Way Surprise, AZ 1
    • 3 beds 3 baths ∙ 1,518 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,518 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 14904 W Lupine Lane Surprise, AZ 2
    • 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 1997
    property image
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.93
    •  
  • 14722 W Parkwood Drive Surprise, AZ 3
    • 3 beds 2 baths ∙ 1,358 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,358 Sqft ∙ Built 1998
    property image
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.07
    •  
  • 17116 N Princess Place #85375 Surprise, AZ 4
    • 3 beds 2 baths ∙ 1,702 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,702 Sqft ∙ Built 1999
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.85
    •  
  • 15071 W Heritage Oak Way Surprise, AZ 5
    • 3 beds 3 baths ∙ 1,518 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,518 Sqft ∙ Built 1996
    property image
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.05
    •  
PROPERTY LISTING DETAILS
Richard Nichols
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6162974
Last Updated: 11/20/2020
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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