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15306 W Surrey Drive Surprise, AZ 85379

3 Beds 2 Baths 2,022 sqft Built 2007

$400,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $197.82
  • 3 Days on Market
  • MLS # : 6189912
  • Updated Date : 02/13/2021 at 19:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,022 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

You've found the PERFECT home with the quintessential Marley Park front porch located directly across from Marley Park, the original of what now totals 21 unique parks in the neighborhood connected by an Arbor Walk. This home is situated on a HUGE, nearly 1/3-acre, double lot and just a stone's throw from the Heritage Club and Heritage Pool House and in walking distance from schools. Inside you'll find a spacious split floor plan features two bedrooms and a den in the front of the house with a large master suite in the back. The kitchen features granite counters with back splash, gas range, staggered cabinets, large island, built in desk area, and pantry. The main bedroom features walk-in closet, separate shower and tub, and dual vanity.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Marley Park

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $120k358k

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

Neighborhood: Marley Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9791981

* 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
 

$360,000$440,000$400,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,389
Property Tax -$351
Property Insurance -$67
HOA -$117
Property Management Fees -$99
CASH FLOW
-$373

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.

$400,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.4%
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

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

0.75

YEARS SAVED

$1,215

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,678

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,6503$1,7004$1,8005$1,850
$1,850
RENT COMPS ANALYSIS
  • 15306 W Surrey Drive Surprise, AZ 2
    • 3 beds 2 baths ∙ 2,022 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,022 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.82
    •  
  • 12860 N 154th Lane Surprise, AZ 1
    • 4 beds 3 baths ∙ 1,988 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,988 Sqft ∙ Built 2005
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.79
    •  
  • 15182 W Aster Drive Surprise, AZ 3
    • 4 beds 3 baths ∙ 1,988 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,988 Sqft ∙ Built 2006
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.86
    •  
  • 13343 N 152nd Avenue Surprise, AZ 4
    • 3 beds 3 baths ∙ 2,139 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,139 Sqft ∙ Built 2006
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.84
    •  
  • 15439 W Old Oak Lane Surprise, AZ 5
    • 3 beds 2 baths ∙ 2,217 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,217 Sqft ∙ Built 2006
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.83
    •  
PROPERTY LISTING DETAILS
Christie Giannetto
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6189912
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.

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