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15856 E Bursage Drive Fountain Hills, AZ 85268

3 Beds 2 Baths 2,012 sqft Built 2000

$499,000

List Price

$2,060

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $248.01
  • 3 Days on Market
  • MLS # : 6181267
  • Updated Date : 01/16/2021 at 16:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,012 sqft
  • Baths : 2 full
Listing Agent

Homesmart Lifestyles

Listing Agent's Description

Pride of ownership is clearly visible the minute you walk thru the door of this beautiful 3 bedroom, 2 bath home. Enjoy one level living, modern open floor plan, great room with a gas fireplace and custom blinds throughout. Eat in kitchen with breakfast bar and large pantry. A convenient 2 car attached garage with built in storage cabinets. Split floorplan for privacy. The master has a large closet and master bath features large vanity with double sinks, a generously sized shower and large soaking tub. Two other nice sized bedrooms with a guest bath. Third bedroom is currently being used as an additional family room. The beautifully landscaped and paved back yard has a nice view of Four Peaks and a cozy gas fireplace. You can also walk to the Pickle Ball courts! Won't last long!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Sunridge Canyon

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $122k586k

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

Neighborhood: Sunridge Canyon

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10452284

* 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
 

$449,100$548,900$499,000

PURCHASE PRICE

$1,854$2,266$2,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,060
EXPENSES Loan Payment -$1,733
Property Tax -$250
Property Insurance -$66
HOA -$18
Property Management Fees -$99
CASH FLOW
-$107

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.

$499,000

PROJECTED PRICE

$2,060

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 1.7%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$137,985

INVESTMENT

$137,985

Down Payment
$124,750
Rehab Estimate
$5,750
Closing Costs
$7,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,733

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $124,750
Loan Amount $374,250
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$20,666

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
  • $2,098

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,8003$1,9004$1,9105$2,400
$2,400
RENT COMPS ANALYSIS
  • 15856 E Bursage Drive Fountain Hills, AZ 1
    • 3 beds 2 baths ∙ 2,012 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,012 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 16008 E Glendora Drive Fountain Hills, AZ 2
    • 3 beds 2 baths ∙ 1,726 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,726 Sqft ∙ Built 1991
    LEASED 11/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.04
    •  
  • 16231 E Bainbridge Avenue Fountain Hills, AZ 3
    • 3 beds 2 baths ∙ 1,966 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,966 Sqft ∙ Built 1984
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.97
    •  
  • 16627 E Bayfield Drive #2 Fountain Hills, AZ 4
    • 3 beds 3 baths ∙ 1,849 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,849 Sqft ∙ Built 2016
    LEASED 02/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $1.03
    •  
  • 15731 E Thistle Drive Fountain Hills, AZ 5
    • 3 beds 2 baths ∙ 2,116 Sqft ∙ Built 1995 3 beds 2 baths ∙ 2,116 Sqft ∙ Built 1995
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.13
    •  
PROPERTY LISTING DETAILS
Kimberly Edwards
Homesmart Lifestyles
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6181267
Last Updated: 01/16/2021
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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