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15220 E Redrock Drive Fountain Hills, AZ 85268

3 Beds 3 Baths 2,550 sqft Built 2000

$735,000

List Price

$2,580

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $288.24
  • 3 Days on Market
  • MLS # : 6178300
  • Updated Date : 01/08/2021 at 02:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,550 sqft
  • Baths : 2 full , 1 half
Listing Agent

Cpa Advantage Realty, Llc

Listing Agent's Description

Ideally located on a PREMIUM, INTERIOR VIEW LOT in the highly coveted Westridge Village GATED COMMUNITY, this architecturally impressive and meticulously maintained home backs to a beautifully kept, expansive greenbelt area! Thoughtfully designed, picturesque rear yard includes a SPARKLING POOL, cascading rock waterfalls, multiple seating areas, relaxing fireplace, built-in bbq island, view fencing, and mature landscaping. LARGE VIEW WINDOWS/WALLS OF GLASS allow natural light to permeate throughout the home. Spacious and flexible split floor plan with SOARING CEILINGS, tall doors, tile flooring, upgraded cabinets, gourmet kitchen, elegant master suite, custom window treatments (including plantation shutters), 3 CAR GARAGE with high quality attached cabinetry, and more. NEW HVAC 2020!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Westridge Village

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $122k598k

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

Neighborhood: Westridge Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400Rent in $10452586

* 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
 

$661,500$808,500$735,000

PURCHASE PRICE

$2,322$2,838$2,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,580
EXPENSES Loan Payment -$2,553
Property Tax -$369
Property Insurance -$77
HOA -$95
Property Management Fees -$99
CASH FLOW
-$612

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.

$735,000

PROJECTED PRICE

$2,580

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.0%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

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

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$200,525

INVESTMENT

$200,525

Down Payment
$183,750
Rehab Estimate
$5,750
Closing Costs
$11,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,553

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $183,750
Loan Amount $551,250
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$5,251

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
  • $2,799

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,5003$2,6004$2,6505$3,000
$3,000
RENT COMPS ANALYSIS
  • 15220 E Redrock Drive Fountain Hills, AZ 1
    • 3 beds 3 baths ∙ 2,550 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,550 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 15959 E Cholla Drive Fountain Hills, AZ 2
    • 3 beds 3 baths ∙ 2,271 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,271 Sqft ∙ Built 1992
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.10
    •  
  • 15025 E Scarlet Sky Lane #2 Fountain Hills, AZ 3
    • 3 beds 3 baths ∙ 2,680 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,680 Sqft ∙ Built 2000
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.97
    •  
  • 14951 E Desert Willow Drive #2 Fountain Hills, AZ 4
    • 3 beds 3 baths ∙ 2,439 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,439 Sqft ∙ Built 2000
    LEASED 05/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.09
    •  
  • 14960 E Desert Willow Drive #2 Fountain Hills, AZ 5
    • 3 beds 3 baths ∙ 2,439 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,439 Sqft ∙ Built 2001
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.23
    •  
PROPERTY LISTING DETAILS
Paul B Fictum
Cpa Advantage Realty, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6178300
Last Updated: 01/08/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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