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15832 E Richwood Avenue Fountain Hills, AZ 85268

4 Beds 3 Baths 2,588 sqft Built 1998

$649,000

List Price

$2,350

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 1998
  • Price/Sqft : $250.77
  • 4 Days on Market
  • MLS # : 6154379
  • Updated Date : 10/30/2020 at 20:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,588 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homesmart

Listing Agent's Description

Own your dream custom build! Enjoy resort style living in this spacious and beautiful home just a short walk from the McDowell Mountain Preserve. Perfect for full-time living, vacation getaway, or a place to work from home, this home boast endless views, vaulted ceilings, natural light, beautifully designed interior. Split floor plan offers an oversized Master Suite w/extended patio, large open kitchen with stainless steel appliances, custom mascarello granite, walk-in pantry, breakfast bar, opens to great room with dining and functional fireplace. Step out onto covered patios and entertain while enjoying sunsets and endless views. Newer epoxy floor, custom cabinets in garage. Many other upgrades throughout home. Hurry, this hillside gem won't last long! Note: Owner/Agent Listing

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 Middle School Middle Regular 372 22 7
Fountain Hills High School High Regular 617 31 7

Four Peaks Elementary School

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

Fountain Hills Middle School

  • Education Level: Middle
  • # of students: 372
  • # of teachers: 22
7
GreatSchools Rating

Fountain Hills High School

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

$584,100$713,900$649,000

PURCHASE PRICE

$2,115$2,585$2,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,350
EXPENSES Loan Payment -$2,395
Property Tax -$325
Property Insurance -$78
Property Management Fees -$99
CASH FLOW
-$547

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.

$649,000

PROJECTED PRICE

$2,350

PROJECTED RENT

0.36%

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

PROJECTED ANNUAL CASH FLOW

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

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$177,735

INVESTMENT

$177,735

Down Payment
$162,250
Rehab Estimate
$5,750
Closing Costs
$9,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,395

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $162,250
Loan Amount $486,750
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$7,322

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,350

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,640

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,4953$2,5504$2,8005$2,950
$2,950
RENT COMPS ANALYSIS
  • 15832 E Richwood Avenue Fountain Hills, AZ 1
    • 4 beds 3 baths ∙ 2,588 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,588 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.91
    •  
  • 16360 N Dryad Place Fountain Hills, AZ 2
    • 3 beds 4 baths ∙ 2,599 Sqft ∙ Built 1989 3 beds 4 baths ∙ 2,599 Sqft ∙ Built 1989
    LEASED 06/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.96
    •  
  • 14810 N Fountain Hills Boulevard Fountain Hills, AZ 3
    • 3 beds 3 baths ∙ 2,610 Sqft ∙ Built 2009 3 beds 3 baths ∙ 2,610 Sqft ∙ Built 2009
    LEASED 06/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.98
    •  
  • 15843 N Aspen Drive Fountain Hills, AZ 4
    • 4 beds 2 baths ∙ 2,700 Sqft ∙ Built 1988 4 beds 2 baths ∙ 2,700 Sqft ∙ Built 1988
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.04
    •  
  • 15848 E Bursage Drive Fountain Hills, AZ 5
    • 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
    •  
PROPERTY LISTING DETAILS
Eric H Walker
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6154379
Last Updated: 10/30/2020
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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