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15632 W Desert Spoon Way Surprise, AZ 85374

2 Beds 2 Baths 1,414 sqft Built 1997

$304,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1997
  • Price/Sqft : $214.99
  • 4 Days on Market
  • MLS # : 6156459
  • Updated Date : 11/07/2020 at 13:10
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,414 sqft
  • Baths : 2 full
Listing Agent

Long Realty West Valley

Listing Agent's Description

A very comfortable floorplan! The Acacia has an open concept with the kitchen, dining and great room area. New appliances, luxury vinyl flooring in the kitchen and bathrooms. PVC Irrigation, wood laminate flooring in the Great room. Newer HVAC, water heater and interior paint. Relax on the front courtyard or your back extended patio. Extended garage for plenty of car, golf cart and storage space.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Sun City Grand Desert Oasis

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k337k

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

Neighborhood: Sun City Grand Desert Oasis

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9792083

* 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
Kingswood Elementary School Primary Regular 674 36 4
Kingswood Elementary School Middle Regular 674 36 4
Willow Canyon High School High Regular 2,084 83 3

Kingswood Elementary School

  • Education Level: Primary
  • # of students: 674
  • # of teachers: 36
4
GreatSchools Rating

Kingswood Elementary School

  • Education Level: Middle
  • # of students: 674
  • # of teachers: 36
4
GreatSchools Rating

Willow Canyon High School

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

$273,600$334,400$304,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$1,122
Property Tax -$211
Property Insurance -$55
HOA -$11
Property Management Fees -$99
CASH FLOW
$2

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.

$304,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 4.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$86,310

INVESTMENT

$86,310

Down Payment
$76,000
Rehab Estimate
$5,750
Closing Costs
$4,560

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,122

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $76,000
Loan Amount $228,000
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$22,492

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,492

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,375
1$1,3752$1,4503$1,4504$1,4955$1,500
$1,500
RENT COMPS ANALYSIS
  • 15632 W Desert Spoon Way Surprise, AZ 5
    • 2 beds 2 baths ∙ 1,414 Sqft ∙ Built 1997 2 beds 2 baths ∙ 1,414 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.06
    •  
  • 15961 W Wildflower Drive Surprise, AZ 1
    • 2 beds 2 baths ∙ 1,414 Sqft ∙ Built 1997 2 beds 2 baths ∙ 1,414 Sqft ∙ Built 1997
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.97
    •  
  • 15907 W Sunstone Lane Surprise, AZ 2
    • 2 beds 2 baths ∙ 1,300 Sqft ∙ Built 1996 2 beds 2 baths ∙ 1,300 Sqft ∙ Built 1996
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.12
    •  
  • 20032 N Clear Canyon Drive Surprise, AZ 3
    • 2 beds 2 baths ∙ 1,546 Sqft ∙ Built 1997 2 beds 2 baths ∙ 1,546 Sqft ∙ Built 1997
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.94
    •  
  • 16149 W Quail Creek Lane Surprise, AZ 4
    • 2 beds 2 baths ∙ 1,255 Sqft ∙ Built 1997 2 beds 2 baths ∙ 1,255 Sqft ∙ Built 1997
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.19
    •  
PROPERTY LISTING DETAILS
Nancy Muslin
Long Realty West Valley
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6156459
Last Updated: 11/07/2020
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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