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1551 S Main Drive Apache Junction, AZ 85120

2 Beds 2 Baths 1,521 sqft Built 1980

$265,000

List Price

$1,040

$936 - $1.1K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 1980
  • Price/Sqft : $174.23
  • 5 Days on Market
  • MLS # : 6156026
  • Updated Date : 11/06/2020 at 14:05
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,521 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Integrity First

Listing Agent's Description

Welcome to this well maintained 2 bed/2 bath home in the desirable 55+ Apache Villa community. Remodeled kitchen with contemporary white cabinets, plus new oven/stove and microwave. New wood-look plank flooring. Master bedroom has 2 closets (his/her) and built-in cabinets for storage. Additional family room for extra space & entertainment or perfect workspace with 2 built-in desks. Low maintenance desert landscaping, featuring a large saguaro cactus in front. Covered carport with long driveway for additional parking. Backyard features a pre-wired work shed with A/C. Laundry room with large sink...washer/dryer included. Easy access to highways (60 & 202), shops and restaurants. Optional Social Membership with the HOA for a wide variety of

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Apache Junction

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: Apache Junction

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
Four Peaks Elementary School Primary Regular 686 37 6
Four Peaks Elementary School Middle Regular 686 37 6
Apache Junction High School High Regular 1,304 69 3

Four Peaks Elementary School

  • Education Level: Primary
  • # of students: 686
  • # of teachers: 37
6
GreatSchools Rating

Four Peaks Elementary School

  • Education Level: Middle
  • # of students: 686
  • # of teachers: 37
6
GreatSchools Rating

Apache Junction High School

  • Education Level: High
  • # of students: 1,304
  • # of teachers: 69
3
GreatSchools Rating
 

$238,500$291,500$265,000

PURCHASE PRICE

$936$1,144$1,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,040
EXPENSES Loan Payment -$978
Property Tax -$139
Property Insurance -$49
HOA -$2
Property Management Fees -$99
CASH FLOW
-$227

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.

$265,000

PROJECTED PRICE

$1,040

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 8.9%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$978

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$3,432

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,040

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,108

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$800
1$8002$8653$1,0404$1,1505$1,250
$1,250
RENT COMPS ANALYSIS
  • 1551 S Main Drive Apache Junction, AZ 3
    • 2 beds 2 baths ∙ 1,131 Sqft ∙ Built 1980 2 beds 2 baths ∙ 1,131 Sqft ∙ Built 1980
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,040
    • $0.92
    •  
  • 1920 S Plaza Drive #11 Apache Junction, AZ 1
    • 2 beds 2 baths ∙ 889 Sqft ∙ Built 1987 2 beds 2 baths ∙ 889 Sqft ∙ Built 1987
    property image
    LEASED 07/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $800
    • $0.90
    •  
  • 153 N Ocotillo Drive #10 Apache Junction, AZ 2
    • 2 beds 2 baths ∙ 860 Sqft ∙ Built 1970 2 beds 2 baths ∙ 860 Sqft ∙ Built 1970
    property image
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $865
    • $1.01
    •  
  • 1924 W 13th Avenue Apache Junction, AZ 4
    • 2 beds 2 baths ∙ 1,174 Sqft ∙ Built 1982 2 beds 2 baths ∙ 1,174 Sqft ∙ Built 1982
    property image
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.98
    •  
  • 1968 W 13th Avenue Apache Junction, AZ 5
    • 2 beds 2 baths ∙ 1,211 Sqft ∙ Built 1981 2 beds 2 baths ∙ 1,211 Sqft ∙ Built 1981
    property image
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.03
    •  
PROPERTY LISTING DETAILS
Shivani A Dallas
Keller Williams Integrity First
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6156026
Last Updated: 11/06/2020
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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