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15724 W Lundberg Street Surprise, AZ 85374

2 Beds 2 Baths 870 sqft Built 1998

$225,000

List Price

$1,240

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $258.62
  • 4 Days on Market
  • MLS # : 6175366
  • Updated Date : 01/08/2021 at 17:25
CONSTRUCTION
  • Beds : 2
  • Floor Size : 870 sqft
  • Baths : 2 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

Must see this beautiful move-in ready 2 bedroom home in Surprise! Cozy and well kept home with easy to maintain landscaping, brand new shower in second bathroom and a spacious and updated kitchen. The kitchen features crisp white cabinets, tons of natural light and plantain shutters to filter the light, and includes all matching stainless steel appliances. The backyard features a covered patio and an extended patio/conversation area with built-in firepit and the grass area is ready to be seeded for the coming spring! This home is perfect for empty nesters or as a vacation home to escape cold winters! Close to shopping and dining and convenient access to the Loop 303 freeway. This one won't last long in at this price! Call today!

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
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,116$1,364$1,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,240
EXPENSES Loan Payment -$782
Property Tax -$156
Property Insurance -$44
HOA -$8
Property Management Fees -$99
CASH FLOW
$151

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.

$225,000

PROJECTED PRICE

$1,240

PROJECTED RENT

0.55%

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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$782

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

9.08

YEARS SAVED

$27,757

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,088

    COMP ESTIMATED VALUE
  • $1.25

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,1003$1,4504$1,4505$1,500
$1,500
RENT COMPS ANALYSIS
  • 15724 W Lundberg Street Surprise, AZ 1
    • 2 beds 2 baths ∙ 870 Sqft ∙ Built 1998 2 beds 2 baths ∙ 870 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 15704 W Post Drive Surprise, AZ 2
    • 2 beds 2 baths ∙ 870 Sqft ∙ Built 1997 2 beds 2 baths ∙ 870 Sqft ∙ Built 1997
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $1.26
    •  
  • 17720 N Havasupai Drive Surprise, AZ 3
    • 2 beds 2 baths ∙ 1,169 Sqft ∙ Built 2000 2 beds 2 baths ∙ 1,169 Sqft ∙ Built 2000
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.24
    •  
  • 17704 N Sundown Court Surprise, AZ 4
    • 2 beds 2 baths ∙ 1,183 Sqft ∙ Built 1999 2 beds 2 baths ∙ 1,183 Sqft ∙ Built 1999
    LEASED 09/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.23
    •  
  • 16085 W Sun Prairie Court Surprise, AZ 5
    • 2 beds 2 baths ∙ 1,183 Sqft ∙ Built 1999 2 beds 2 baths ∙ 1,183 Sqft ∙ Built 1999
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.27
    •  
PROPERTY LISTING DETAILS
George Laughton
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6175366
Last Updated: 01/08/2021
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.

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