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15315 W Memory Lane Surprise, AZ 85374

4 Beds 2 Baths 2,313 sqft Built 1998

$400,000

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $172.94
  • 5 Days on Market
  • MLS # : 6175141
  • Updated Date : 01/08/2021 at 20:54
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,313 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

This beautifully renovated 4 Bedroom Stunner is close to everything! Sitting on an oversized corner lot with Room for RV Gate and Parking, it is ideally located near Reems and Bell. From the fireplace facade, to kitchen backsplash, this home boasts a modern, but warm look. Updates include New Fixtures, Hardware, Quartz Counters, Stainless Steel Appliances, backsplash and new Sod in the backyard. Don't forget to check out the 3D Tour!Updated Kitchen features double wall ovens, new Gas cooktop, microwave, and dishwasher. Custom table Island that opens up to the family room.The Huge Master Suite has private toilet room, dual vanities, walk-in closet, vaulted ceilings, and separate access to the covered patio. Roof underlayment replaced May 2020. AC replaced 2016

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Continental at Kingswood

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $104k271k

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

Neighborhood: Continental at Kingswood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2950100010501100115012001250130013501400145015001550Rent in $9121567

* 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
 

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

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,389
Property Tax -$239
Property Insurance -$72
HOA -$14
Property Management Fees -$99
CASH FLOW
-$93

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.

$400,000

PROJECTED PRICE

$1,720

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.6%
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

PROJECTED ANNUAL CASH FLOW

11530$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

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 50% 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

4.33

YEARS SAVED

$16,831

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,602

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,6503$1,7204$1,7955$1,850
$1,850
RENT COMPS ANALYSIS
  • 15315 W Memory Lane Surprise, AZ 3
    • 4 beds 2 baths ∙ 2,313 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,313 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.74
    •  
  • 15144 W Bola Drive Surprise, AZ 1
    • 3 beds 3 baths ∙ 2,493 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,493 Sqft ∙ Built 2005
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.60
    •  
  • 15374 W Cottonwood Circle Surprise, AZ 2
    • 4 beds 3 baths ∙ 2,485 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,485 Sqft ∙ Built 2005
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.66
    •  
  • 17315 N Kimberly Way Surprise, AZ 4
    • 5 beds 3 baths ∙ 2,337 Sqft ∙ Built 1997 5 beds 3 baths ∙ 2,337 Sqft ∙ Built 1997
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.77
    •  
  • 16426 N 152nd Lane Surprise, AZ 5
    • 3 beds 3 baths ∙ 2,485 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,485 Sqft ∙ Built 2004
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.74
    •  
PROPERTY LISTING DETAILS
Jonathan Bodeen
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6175141
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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