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15857 W Desert Meadow Drive Surprise, AZ 85374

2 Beds 2 Baths 1,099 sqft Built 2000

$250,000

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 2000
  • Price/Sqft : $227.48
  • 4 Days on Market
  • MLS # : 6154453
  • Updated Date : 11/01/2020 at 00:00
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,099 sqft
  • Baths : 1 full , 1 half
Listing Agent

West Usa Realty

Listing Agent's Description

Welcome home to this beautiful move in ready villa, This home has been nicely upgraded and updated, New Shutters, New Granite counters and cabinets, New paint and enclosed AZ room for extra livable or another bedroom. 2nd bedroom has built in murphy bed and custom built ins, Great room has built in fire place and upgraded flooring, dual pane windows and OWNED solar = lower elec. bills, NEW TRANE A/C unit 4 months ago this home is move in ready.

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PRICE & RENT TRENDS

Neighborhood: Sun City Grand Granite Falls

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $109k289k

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

Neighborhood: Sun City Grand Granite Falls

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9791648

* 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
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$922
Property Tax -$174
Property Insurance -$49
HOA -$14
Property Management Fees -$99
CASH FLOW
$82

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.

$250,000

PROJECTED PRICE

$1,340

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 5.9%
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$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$26,894

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,340

    LIST RENT
  • $1.22

    LIST RENT PER SQFT
  • $1,363

    COMP ESTIMATED VALUE
  • $1.24

    COMP AVG. RENT PER SQFT
Comps Range
$1,340
1$1,3402$1,3753$1,4504$1,5005$1,500
$1,500
RENT COMPS ANALYSIS
  • 15857 W Desert Meadow Drive Surprise, AZ 1
    • 2 beds 2 baths ∙ 1,099 Sqft ∙ Built 2000 2 beds 2 baths ∙ 1,099 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $1.22
    •  
  • 16324 W Key Estrella Drive Surprise, AZ 2
    • 2 beds 2 baths ∙ 1,169 Sqft ∙ Built 1998 2 beds 2 baths ∙ 1,169 Sqft ∙ Built 1998
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $1.18
    •  
  • 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
    property image
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.24
    •  
  • 18320 N Las Rocas Way Surprise, AZ 4
    • 2 beds 2 baths ∙ 1,183 Sqft ∙ Built 1998 2 beds 2 baths ∙ 1,183 Sqft ∙ Built 1998
    property image
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.27
    •  
  • 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
    property image
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.27
    •  
PROPERTY LISTING DETAILS
Gordon Leatherbarrow
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6154453
Last Updated: 11/01/2020
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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