Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

15614 N 159th Lane Surprise, AZ 85374

3 Beds 2 Baths 1,693 sqft Built 2001

$280,000

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $165.39
  • 3 Days on Market
  • MLS # : 6177653
  • Updated Date : 01/09/2021 at 16:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,693 sqft
  • Baths : 2 full
Listing Agent

Exp Realty

Listing Agent's Description

Gorgeous single level home with tons of on-trend features and updates! Gourmet eat-in kitchen incorporates painted cabinets with pulls, island with breakfast bar, new garbage disposal, and Whirlpool and Samsung appliances. Other features include a recently painted exterior, vaulted ceilings, front security door, 18in porcelain tile flooring, new bedroom carpeting, spacious den with built-ins, great room gas fireplace, and a 2 car garage with 50 gal water heater. The master suite offers a walk-in closet and a full bathroom with painted cabinetry, new toilet, and a separate shower and tub. The backyard has an extended covered patio with misting system, faux grass with 16yr warranty, low maintenance landscaping, and a refinished side gate!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Mountain Vista Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $101k271k

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

Neighborhood: Mountain Vista Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2950100010501100115012001250130013501400145015001550Rent in $9021567

* 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
Parkview Elementary School Primary Regular 880 44 3
Parkview Elementary School Middle Regular 880 44 3
Willow Canyon High School High Regular 2,084 83 3

Parkview Elementary School

  • Education Level: Primary
  • # of students: 880
  • # of teachers: 44
3
GreatSchools Rating

Parkview Elementary School

  • Education Level: Middle
  • # of students: 880
  • # of teachers: 44
3
GreatSchools Rating

Willow Canyon High School

  • Education Level: High
  • # of students: 2,084
  • # of teachers: 83
3
GreatSchools Rating
 

$252,000$308,000$280,000

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$973
Property Tax -$195
Property Insurance -$60
HOA -$8
Property Management Fees -$99
CASH FLOW
$225

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.

$280,000

PROJECTED PRICE

$1,560

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 7.1%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$973

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

9.67

YEARS SAVED

$38,856

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,558

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4503$1,5004$1,5605$1,595
$1,595
RENT COMPS ANALYSIS
  • 15614 N 159th Lane Surprise, AZ 4
    • 3 beds 2 baths ∙ 1,693 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,693 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.92
    •  
  • 15904 W Carmen Drive Surprise, AZ 1
    • 3 beds 2 baths ∙ 1,668 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,668 Sqft ∙ Built 2000
    LEASED 01/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.87
    •  
  • 15676 W Caribbean Lane Surprise, AZ 2
    • 3 beds 2 baths ∙ 1,572 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,572 Sqft ∙ Built 2000
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.92
    •  
  • 15912 W Tara Lane Surprise, AZ 3
    • 3 beds 2 baths ∙ 1,668 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,668 Sqft ∙ Built 2000
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.90
    •  
  • 16028 N 159th Lane Surprise, AZ 5
    • 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 2000
    LEASED 12/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.99
    •  
PROPERTY LISTING DETAILS
Jeffrey M Sibbach
Exp Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6177653
Last Updated: 01/09/2021
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.

BESbswy