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15223 W Pasadena Drive Surprise, AZ 85374

2 Beds 2 Baths 1,183 sqft Built 2000

$290,000

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $245.14
  • 4 Days on Market
  • MLS # : 6178088
  • Updated Date : 01/07/2021 at 22:18
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,183 sqft
  • Baths : 1 full , 1 half
Listing Agent

Realty One Group

Listing Agent's Description

TURN KEY OPTION - We came to Sun City Grand to rent a villa for the month of January and liked all the amenities of this active adult community so much that we bought this home. The location is great backing up to and overlooking a community pathway. There are not any homes behind this home and this lot sits higher than the walkway giving us a private back yard. We also have a nice sized covered patio just outside of the sliding glass doors. The low maintenance private yard has a producing naval orange tree in addition to the other beautiful landscaping plants and cacti. This great open Willow floor plan that features tile floors everywhere except the bedrooms is beautiful and bright. The bedrooms are carpeted which is preferred in cool winter mornings. With 9 ft ceilings throughout, it

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
 

$261,000$319,000$290,000

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$1,007
Property Tax -$202
Property Insurance -$50
HOA -$11
Property Management Fees -$99
CASH FLOW
$71

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.

$290,000

PROJECTED PRICE

$1,440

PROJECTED RENT

0.50%

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

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$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$23,701

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $1.22

    LIST RENT PER SQFT
  • $1,346

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,4003$1,4004$1,4405$1,450
$1,450
RENT COMPS ANALYSIS
  • 15223 W Pasadena Drive Surprise, AZ 4
    • 2 beds 2 baths ∙ 1,183 Sqft ∙ Built 2000 2 beds 2 baths ∙ 1,183 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $1.22
    •  
  • 17201 N Larkspur Lane Surprise, AZ 1
    • 2 beds 2 baths ∙ 1,090 Sqft ∙ Built 1997 2 beds 2 baths ∙ 1,090 Sqft ∙ Built 1997
    property image
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.15
    •  
  • 14575 W Mountain View Boulevard #222 Surprise, AZ 2
    • 2 beds 2 baths ∙ 1,277 Sqft ∙ Built 2006 2 beds 2 baths ∙ 1,277 Sqft ∙ Built 2006
    property image
    LEASED 08/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.10
    •  
  • 17919 N Reno Avenue Surprise, AZ 3
    • 2 beds 2 baths ∙ 1,187 Sqft ∙ Built 1998 2 beds 2 baths ∙ 1,187 Sqft ∙ Built 1998
    property image
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.18
    •  
  • 15907 W Sunstone Lane Surprise, AZ 5
    • 2 beds 2 baths ∙ 1,300 Sqft ∙ Built 1996 2 beds 2 baths ∙ 1,300 Sqft ∙ Built 1996
    property image
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.12
    •  
PROPERTY LISTING DETAILS
Bob Garwood
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6178088
Last Updated: 01/07/2021
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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