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15888 N 151st Avenue Surprise, AZ 85374

3 Beds 2 Baths 1,007 sqft Built 1987

$385,000

List Price

$1,210

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $382.32
  • 40 Days on Market
  • MLS # : 6166600
  • Updated Date : 12/21/2020 at 10:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,007 sqft
  • Baths : 2 full
Listing Agent

Brokers Only, Llc

Listing Agent's Description

Quiet neighborhood just two minutes from center city. 1007 square foot, 3 bed 2 bath ranch house on 1 acre fenced lot with RV parking. Spectacular view of sunset over mountains. Lawn and enclosures (fenced) for farm animals such as goats, chickens etc.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Orchards

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $109k275k

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

Neighborhood: Orchards

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100010501100115012001250130013501400145015001550Rent in $9791567

* 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
Valley Vista High School High Regular 2,457 101 4

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

Valley Vista High School

  • Education Level: High
  • # of students: 2,457
  • # of teachers: 101
4
GreatSchools Rating
 

$346,500$423,500$385,000

PURCHASE PRICE

$1,089$1,331$1,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,210
EXPENSES Loan Payment -$1,337
Property Tax -$268
Property Insurance -$47
Property Management Fees -$99
CASH FLOW
-$541

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.

$385,000

PROJECTED PRICE

$1,210

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 5.1%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$107,775

INVESTMENT

$107,775

Down Payment
$96,250
Rehab Estimate
$5,750
Closing Costs
$5,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,337

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $96,250
Loan Amount $288,750
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$70

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,210

    LIST RENT
  • $1.2

    LIST RENT PER SQFT
  • $1,201

    COMP ESTIMATED VALUE
  • $1.19

    COMP AVG. RENT PER SQFT
Comps Range
$1,210
1$1,2102$1,2503$1,2504$1,2755$1,450
$1,450
RENT COMPS ANALYSIS
  • 15888 N 151st Avenue Surprise, AZ 1
    • 3 beds 2 baths ∙ 1,007 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,007 Sqft ∙ Built 1987
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,210
    • $1.20
    •  
  • 14840 W Acapulco Lane Surprise, AZ 2
    • 3 beds 2 baths ∙ 1,062 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,062 Sqft ∙ Built 2002
    property image
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.18
    •  
  • 15759 W Young Street Surprise, AZ 3
    • 3 beds 2 baths ∙ 1,065 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,065 Sqft ∙ Built 1998
    property image
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.17
    •  
  • 14812 W Acapulco Lane Surprise, AZ 4
    • 3 beds 2 baths ∙ 1,062 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,062 Sqft ∙ Built 2001
    property image
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $1.20
    •  
  • 14970 W Caribbean Lane Surprise, AZ 5
    • 3 beds 2 baths ∙ 1,190 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,190 Sqft ∙ Built 1999
    property image
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.22
    •  
PROPERTY LISTING DETAILS
Brittany Horn
Brokers Only, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6166600
Last Updated: 12/21/2020
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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