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15618 E El Lago Boulevard Fountain Hills, AZ 85268

3 Beds 3 Baths 3,000 sqft Built 1985

$680,000

List Price

$2,590

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $226.67
  • 2 Days on Market
  • MLS # : 6187584
  • Updated Date : 01/29/2021 at 22:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,000 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homesmart

Listing Agent's Description

STUNNING VIEWS! All windows out back with unobstructed Mountain View'sINVITING & ENTERTAINING FLOOR PLAN!An Entertainers Delight!Master suite upstairs with covered deck and steps to gorgeous pool. Bedrooms downstairs have access as well.Great spacious rooms, newly painted with updated granite counter tops and newer roof. Come see your new DREAM HOME!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Fountain Hills

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $122k408k

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

Neighborhood: Fountain Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10452077

* 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 243 9 6
Fountain Hills High School High Regular 617 31 7
Four Peaks Elementary School Primary Unknown NA

Four Peaks Elementary School

  • Education Level: Primary
  • # of students: 243
  • # of teachers: 9
6
GreatSchools Rating

Fountain Hills High School

  • Education Level: High
  • # of students: 617
  • # of teachers: 31
7
GreatSchools Rating

Four Peaks Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$612,000$748,000$680,000

PURCHASE PRICE

$2,331$2,849$2,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,590
EXPENSES Loan Payment -$2,362
Property Tax -$341
Property Insurance -$86
Property Management Fees -$99
CASH FLOW
-$297

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.

$680,000

PROJECTED PRICE

$2,590

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.2%
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$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$185,950

INVESTMENT

$185,950

Down Payment
$170,000
Rehab Estimate
$5,750
Closing Costs
$10,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,362

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $170,000
Loan Amount $510,000
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$18,139

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,590

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $3,285

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$2,590
1$2,5902$2,9503$3,0004$3,2105$3,500
$3,500
RENT COMPS ANALYSIS
  • 15618 E El Lago Boulevard Fountain Hills, AZ 1
    • 3 beds 3 baths ∙ 3,000 Sqft ∙ Built 1985 3 beds 3 baths ∙ 3,000 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $2,590
    • $0.86
    •  
  • 15848 E Bursage Drive Fountain Hills, AZ 2
    • 4 beds 3 baths ∙ 2,691 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,691 Sqft ∙ Built 1999
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.10
    •  
  • 15740 E Tumbleweed Drive Fountain Hills, AZ 3
    • 4 beds 3 baths ∙ 2,958 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,958 Sqft ∙ Built 1990
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.01
    •  
  • 14356 E Geronimo Road Scottsdale, AZ 4
    • 4 beds 3 baths ∙ 2,903 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,903 Sqft ∙ Built 2002
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,210
    • $1.11
    •  
  • 13641 N Mesquite Lane Fountain Hills, AZ 5
    • 3 beds 3 baths ∙ 3,012 Sqft ∙ Built 1999 3 beds 3 baths ∙ 3,012 Sqft ∙ Built 1999
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.16
    •  
PROPERTY LISTING DETAILS
Kelly Keefe Kaye
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6187584
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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