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1535 E Silver Reef Drive Casa Grande, AZ 85122

5 Beds 3 Baths 2,886 sqft Built 2006

$299,900

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $103.92
  • 3 Days on Market
  • MLS # : 6172835
  • Updated Date : 12/19/2020 at 14:19
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,886 sqft
  • Baths : 3 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

This large home has a fresh coat of paint and is situated in one of Casa Grande's most sought after neighborhoods - Highland Manor. A large family and dining room, soaring ceilings, and upgraded wrought iron stair case make the first step inside feel grand. Travertine tile and a granite compass inlay lead you to the upgraded kitchen and large, connected family room. This kitchen has everything you need - featuring cherry wood cabinets, granite countertops, a large walk-in pantry and Kitchenaid appliances. There is a full bathroom and a bedroom downstiars - perfect for multi generational living or guests. The primary suite is spacious and has a vaulted ceiling. While the en suite bathroom offers dual sinks, a separate tup and shower, and a large walk in closet. Down the hall you will find

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Highland Manor

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: Highland Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8621567

* 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
Ironwood Elementary School Primary Regular 460 24 4
Cactus Middle School Middle Regular 919 39 5
Vista Grande High Regular 1,907 68 3

Ironwood Elementary School

  • Education Level: Primary
  • # of students: 460
  • # of teachers: 24
4
GreatSchools Rating

Cactus Middle School

  • Education Level: Middle
  • # of students: 919
  • # of teachers: 39
5
GreatSchools Rating

Vista Grande

  • Education Level: High
  • # of students: 1,907
  • # of teachers: 68
3
GreatSchools Rating
 

$269,910$329,890$299,900

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 -$1,107
Property Tax -$228
Property Insurance -$83
HOA -$12
Property Management Fees -$99
CASH FLOW
$121

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.

$299,900

PROJECTED PRICE

$1,650

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 2.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$33,237

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
  • $0.57

    LIST RENT PER SQFT
  • $1,631

    COMP ESTIMATED VALUE
  • $0.57

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5953$1,650
$1,650
RENT COMPS ANALYSIS
  • 1535 E Silver Reef Drive Casa Grande, AZ 3
    • 5 beds 3 baths ∙ 2,886 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,886 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.57
    •  
  • 1466 E Holiday Drive Casa Grande, AZ 1
    • 5 beds 3 baths ∙ 2,595 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,595 Sqft ∙ Built 2006
    property image
    LEASED 08/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.58
    •  
  • 1469 E Avenida Isabela -- Casa Grande, AZ 2
    • 4 beds 3 baths ∙ 2,925 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,925 Sqft ∙ Built 2001
    property image
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.55
    •  
PROPERTY LISTING DETAILS
Jeffrey Klein, Jr
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6172835
Last Updated: 12/19/2020
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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