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15582 W Montecito Avenue Goodyear, AZ 85395

4 Beds 3 Baths 3,426 sqft Built 2006

$409,900

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $119.64
  • 3 Days on Market
  • MLS # : 6187129
  • Updated Date : 01/29/2021 at 08:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,426 sqft
  • Baths : 3 full
Listing Agent

Homesmart

Listing Agent's Description

This beauty is a formal model home with vaulted ceilings located in the desired Palm Valley on a cul-de-sac lot. The house has over 3400 sqft with plenty of living space. This home features spacious 4 bedrooms, 3 baths, bonus/game room, a large living room and a loft. The kitchen has granite counter tops, stainless steel appliances, kitchen island, pantry and an Eat-in Kitchen area. Home is vacant and available immediately.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Palm Valley

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $122k369k

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

Neighborhood: Palm Valley

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10451981

* 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
Mabel Padgett Elementary School Primary Regular 868 38 8
Verrado Middle School Middle Regular 1,060 42 8
Millennium High School High Regular 2,205 94 4

Mabel Padgett Elementary School

  • Education Level: Primary
  • # of students: 868
  • # of teachers: 38
8
GreatSchools Rating

Verrado Middle School

  • Education Level: Middle
  • # of students: 1,060
  • # of teachers: 42
8
GreatSchools Rating

Millennium High School

  • Education Level: High
  • # of students: 2,205
  • # of teachers: 94
4
GreatSchools Rating
 

$368,910$450,890$409,900

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,424
Property Tax -$363
Property Insurance -$94
HOA -$21
Property Management Fees -$99
CASH FLOW
$299

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.

$409,900

PROJECTED PRICE

$2,300

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.2%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$114,374

INVESTMENT

$114,374

Down Payment
$102,475
Rehab Estimate
$5,750
Closing Costs
$6,149

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,424

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $102,475
Loan Amount $307,425
See What Happens When You Reinvest Cash Flow

8.75

YEARS SAVED

$49,858

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $2,518

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,2753$2,3004$2,7955$2,800
$2,800
RENT COMPS ANALYSIS
  • 15582 W Montecito Avenue Goodyear, AZ 3
    • 4 beds 3 baths ∙ 3,426 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,426 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.67
    •  
  • 15576 W Montecito Avenue Goodyear, AZ 1
    • 4 beds 3 baths ∙ 3,083 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,083 Sqft ∙ Built 2006
    LEASED 01/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.68
    •  
  • 4280 N 157th Avenue Goodyear, AZ 2
    • 4 beds 3 baths ∙ 3,083 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,083 Sqft ∙ Built 2006
    LEASED 10/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,275
    • $0.74
    •  
  • 14210 W Greentree Drive S Litchfield Park, AZ 4
    • 4 beds 3 baths ∙ 3,642 Sqft ∙ Built 1998 4 beds 3 baths ∙ 3,642 Sqft ∙ Built 1998
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $0.77
    •  
  • 15145 W Elm Street Goodyear, AZ 5
    • 4 beds 3 baths ∙ 3,712 Sqft ∙ Built 2007 4 beds 3 baths ∙ 3,712 Sqft ∙ Built 2007
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.75
    •  
PROPERTY LISTING DETAILS
Jasmine Ward
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6187129
Last Updated: 01/29/2021
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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