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15151 E Ridgeway Drive Fountain Hills, AZ 85268

5 Beds 5 Baths 4,430 sqft Built 1979

$855,000

List Price

$2,690

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

November 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $193.00
  • 5 Days on Market
  • MLS # : 6160932
  • Updated Date : 11/21/2020 at 13:25
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,430 sqft
  • Baths : 4 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

This extraordinary home's fresh (2008 rebuild) design will surprise & delight. A stunning professional chef's kitchen anchors the residence; seamlessly serving the formal dining/bar/great & family rooms with endless surrounding mountain views. A master suite & secondary suite complete the main level. Upstairs - capturing light & endless views is the award-winning Master Suite (#1) & private Spa Bath; strategically split from 2 additional bedrooms; a flex/second laundry & kitchenette. Unexpected storage! Outdoor space is designed for relaxation, privacy or your dog's delight! Minimal maintenance - freeing you to sit back & enjoy sunrise, sunset & mountain views. Embrace CERTAINTY in this immaculate, perfectly maintained soft contemporary retreat; during these uncertain times!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Fountain Hills

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $122k408k

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

Neighborhood: Fountain Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10452077

* 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 243 9 6
Fountain Hills Middle School Middle Regular 372 22 7
Fountain Hills High School High Regular 617 31 7

Four Peaks Elementary School

  • Education Level: Primary
  • # of students: 243
  • # of teachers: 9
6
GreatSchools Rating

Fountain Hills Middle School

  • Education Level: Middle
  • # of students: 372
  • # of teachers: 22
7
GreatSchools Rating

Fountain Hills High School

  • Education Level: High
  • # of students: 617
  • # of teachers: 31
7
GreatSchools Rating
 

$769,500$940,500$855,000

PURCHASE PRICE

$2,421$2,959$2,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,690
EXPENSES Loan Payment -$3,155
Property Tax -$429
Property Insurance -$113
Property Management Fees -$99
CASH FLOW
-$1,106

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.

$855,000

PROJECTED PRICE

$2,690

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.2%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$232,325

INVESTMENT

$232,325

Down Payment
$213,750
Rehab Estimate
$5,750
Closing Costs
$12,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$3,155

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $213,750
Loan Amount $641,250
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$657

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,690

    LIST RENT
  • $0.61

    LIST RENT PER SQFT
  • $2,747

    COMP ESTIMATED VALUE
  • $0.62

    COMP AVG. RENT PER SQFT
Comps Range
$2,690
1$2,6902$2,7503$2,850
$2,850
RENT COMPS ANALYSIS
  • 15151 E Ridgeway Drive Fountain Hills, AZ 1
    • 5 beds 5 baths ∙ 4,430 Sqft ∙ Built 1979 5 beds 5 baths ∙ 4,430 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $2,690
    • $0.61
    •  
  • 15414 E Thistle Drive Fountain Hills, AZ 2
    • 5 beds 4 baths ∙ 4,715 Sqft ∙ Built 1987 5 beds 4 baths ∙ 4,715 Sqft ∙ Built 1987
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.58
    •  
  • 13325 N Manzanita Lane Fountain Hills, AZ 3
    • 4 beds 5 baths ∙ 4,338 Sqft ∙ Built 1998 4 beds 5 baths ∙ 4,338 Sqft ∙ Built 1998
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.66
    •  
PROPERTY LISTING DETAILS
Devon A Connors
Coldwell Banker Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6160932
Last Updated: 11/21/2020
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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