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15240 W Cortez Street Surprise, AZ 85379

4 Beds 3 Baths 3,684 sqft Built 2003

$495,000

List Price

$2,130

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $134.36
  • 2 Days on Market
  • MLS # : 6206811
  • Updated Date : 03/13/2021 at 03:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,684 sqft
  • Baths : 2 full , 1 half
Listing Agent

Denali Real Estate, Llc

Listing Agent's Description

This is a very well maintained 4 bedroom plus den and loft, 2.5 bathroom Surprise home with pool and 3 car garage. This home has huge living space with oversized living room, family room, formal dining area, eat in kitchen area for another table and massive loft upstairs. Upgraded wood flooring and tile downstairs, upgraded window blinds and ceiling fans throughout. Downstairs den with beautiful built in desk and cabinets. Large kitchen features upgraded counter tops and cabinets, separate pantry, island, gas range w/ DOUBLE OVEN, stove top microwave, dishwasher and refrigerator. Large master suite features large bedroom, huge walk-in closet, garden tub, separate shower and double sinks. Fenced pool and spa and large covered patio in the backyard.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Rancho Gabriela

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $108k271k

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

Neighborhood: Rancho Gabriela

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100010501100115012001250130013501400145015001550Rent in $9711567

* 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
Dysart High School High Regular 1,604 73 3

Dysart High School

  • Education Level: High
  • # of students: 1,604
  • # of teachers: 73
3
GreatSchools Rating
 

$445,500$544,500$495,000

PURCHASE PRICE

$1,917$2,343$2,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,130
EXPENSES Loan Payment -$1,719
Property Tax -$303
Property Insurance -$99
HOA -$50
Property Management Fees -$99
CASH FLOW
-$141

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.

$495,000

PROJECTED PRICE

$2,130

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.9%
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$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$136,925

INVESTMENT

$136,925

Down Payment
$123,750
Rehab Estimate
$5,750
Closing Costs
$7,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,719

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $123,750
Loan Amount $371,250
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$18,328

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
  • $2,358

    COMP ESTIMATED VALUE
  • $0.64

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,1953$2,4504$2,555
$2,555
RENT COMPS ANALYSIS
  • 15240 W Cortez Street Surprise, AZ 1
    • 4 beds 3 baths ∙ 3,684 Sqft ∙ Built 2003 4 beds 3 baths ∙ 3,684 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 15654 W Sierra Street Surprise, AZ 2
    • 5 beds 4 baths ∙ 3,950 Sqft ∙ Built 2014 5 beds 4 baths ∙ 3,950 Sqft ∙ Built 2014
    property image
    LEASED 10/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.56
    •  
  • 15739 W Shangri La Road Surprise, AZ 3
    • 4 beds 3 baths ∙ 3,883 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,883 Sqft ∙ Built 2005
    property image
    LEASED 12/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.63
    •  
  • 14403 W Mandalay Lane Surprise, AZ 4
    • 5 beds 3 baths ∙ 3,521 Sqft ∙ Built 2005 5 beds 3 baths ∙ 3,521 Sqft ∙ Built 2005
    property image
    LEASED 12/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,555
    • $0.73
    •  
PROPERTY LISTING DETAILS
Jason Self
Denali Real Estate, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6206811
Last Updated: 03/13/2021
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.

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