Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

15225 E Verbena Drive Fountain Hills, AZ 85268

3 Beds 2 Baths 2,412 sqft Built 1983

$689,000

List Price

$2,260

$2K - $2.5K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $285.66
  • 3 Days on Market
  • MLS # : 6193369
  • Updated Date : 02/13/2021 at 14:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,412 sqft
  • Baths : 2 full
Listing Agent

Homesmart Lifestyles

Listing Agent's Description

Reminiscent of So Cal Beach style homes, this home was Custom Built by California Builder DISALVO in the early 80's & perched just right for Panoramic Views from the park like back yard. Grounds feature View Fencing, Fruit Trees, Pool, Large Covered Patio for Entertaining, RV gate & parking + Separate Storage shed. Inside features Beamed Vaulted Ceilings, Wall to Wall-Floor to Ceiling Windows in Family Room, Split Floor Plan, inside Laundry. Several rooms have access to the covered patio. Super cozy wood burning brick Fireplace in the family room that is open to to the kitchen area. Garage is extended length with work space for your projects. Plenty of off street parking for guests or addl household members. Room to expand for 2nd garage, casita or elevated Pergola to capture more views.

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 High School High Regular 617 31 7
Four Peaks Elementary School Primary Unknown NA

Four Peaks Elementary School

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

Fountain Hills High School

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

Four Peaks Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$620,100$757,900$689,000

PURCHASE PRICE

$2,034$2,486$2,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,260
EXPENSES Loan Payment -$2,393
Property Tax -$346
Property Insurance -$74
Property Management Fees -$99
CASH FLOW
-$652

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.

$689,000

PROJECTED PRICE

$2,260

PROJECTED RENT

0.33%

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$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$188,335

INVESTMENT

$188,335

Down Payment
$172,250
Rehab Estimate
$5,750
Closing Costs
$10,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,393

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $172,250
Loan Amount $516,750
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$3,327

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,260

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $2,496

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,2603$2,5004$2,5005$2,700
$2,700
RENT COMPS ANALYSIS
  • 15225 E Verbena Drive Fountain Hills, AZ 2
    • 3 beds 2 baths ∙ 2,412 Sqft ∙ Built 1983 3 beds 2 baths ∙ 2,412 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $2,260
    • $0.94
    •  
  • 15604 E Chicory Drive Fountain Hills, AZ 1
    • 3 beds 3 baths ∙ 2,239 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,239 Sqft ∙ Built 1998
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.00
    •  
  • 15869 E Ponderosa Drive Fountain Hills, AZ 3
    • 4 beds 4 baths ∙ 2,474 Sqft ∙ Built 1990 4 beds 4 baths ∙ 2,474 Sqft ∙ Built 1990
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.01
    •  
  • 15959 E Cholla Drive Fountain Hills, AZ 4
    • 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
    •  
  • 14850 E Grandview Drive #204 Fountain Hills, AZ 5
    • 3 beds 3 baths ∙ 2,618 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,618 Sqft ∙ Built 1999
    LEASED 11/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.03
    •  
PROPERTY LISTING DETAILS
Lori Webster
Homesmart Lifestyles
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6193369
Last Updated: 02/13/2021
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.

BESbswy