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15512 W Desert Mirage Drive Surprise, AZ 85379

4 Beds 2 Baths 3,121 sqft Built 2005

$585,000

List Price

$2,040

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $187.44
  • 2 Days on Market
  • MLS # : 6163409
  • Updated Date : 11/20/2020 at 21:54
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,121 sqft
  • Baths : 2 full
Listing Agent

Pro-formance Realty Concepts

Listing Agent's Description

Located in the highly desirable Greer Ranch South subdivision. This is an Amazing home located on just over 3/4 of an acre. Owner has invested nearly $150,000 in the backyard swimming pool with large grotto, rocklike slide and tons of cool decking and large heated spa along with a very big gazebo with outside kitchen. Plenty of space to store multiple trailers, boats or pretty much any toys you have gathered over the years. The home is situated on the end of a large cul-de-sac and is just 2 miles North of the Northern Parkway at Reems. The home features 4 bedrooms, 2baths, family room, living room and dining room a split floor plan with a very large master bedroom with a wonderful master bath and Huge walk in closet. 9' ceilings make this 3100+ sq/ft home seem even bigger than it is. Three

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Greer Ranch South

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $120k358k

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

Neighborhood: Greer Ranch South

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
Sonoran Heights Elementary School Primary Regular 961 42 7
Sonoran Heights Elementary School Middle Regular 961 42 7
Shadow Ridge High School High Regular 1,735 77 4

Sonoran Heights Elementary School

  • Education Level: Primary
  • # of students: 961
  • # of teachers: 42
7
GreatSchools Rating

Sonoran Heights Elementary School

  • Education Level: Middle
  • # of students: 961
  • # of teachers: 42
7
GreatSchools Rating

Shadow Ridge High School

  • Education Level: High
  • # of students: 1,735
  • # of teachers: 77
4
GreatSchools Rating
 

$526,500$643,500$585,000

PURCHASE PRICE

$1,836$2,244$2,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,040
EXPENSES Loan Payment -$2,158
Property Tax -$407
Property Insurance -$88
HOA -$22
Property Management Fees -$99
CASH FLOW
-$734

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.

$585,000

PROJECTED PRICE

$2,040

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.9%
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$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$160,775

INVESTMENT

$160,775

Down Payment
$146,250
Rehab Estimate
$5,750
Closing Costs
$8,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,158

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $146,250
Loan Amount $438,750
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$530

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,040

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $1,912

    COMP ESTIMATED VALUE
  • $0.61

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,9503$1,9954$2,0405$2,050
$2,050
RENT COMPS ANALYSIS
  • 15512 W Desert Mirage Drive Surprise, AZ 4
    • 4 beds 2 baths ∙ 3,121 Sqft ∙ Built 2005 4 beds 2 baths ∙ 3,121 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,040
    • $0.65
    •  
  • 15976 W Clinton Street Surprise, AZ 1
    • 5 beds 4 baths ∙ 3,134 Sqft ∙ Built 2005 5 beds 4 baths ∙ 3,134 Sqft ∙ Built 2005
    LEASED 04/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.56
    •  
  • 15993 W Yucatan Drive Surprise, AZ 2
    • 4 beds 3 baths ∙ 3,077 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,077 Sqft ∙ Built 2005
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.63
    •  
  • 15648 W Poinsettia Drive Surprise, AZ 3
    • 5 beds 3 baths ∙ 3,207 Sqft ∙ Built 2007 5 beds 3 baths ∙ 3,207 Sqft ∙ Built 2007
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.62
    •  
  • 11877 N 156th Lane Surprise, AZ 5
    • 5 beds 3 baths ∙ 3,207 Sqft ∙ Built 2007 5 beds 3 baths ∙ 3,207 Sqft ∙ Built 2007
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.64
    •  
PROPERTY LISTING DETAILS
Rudolph M Soltesz
Pro-formance Realty Concepts
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6163409
Last Updated: 11/20/2020
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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