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15908 W Tara Lane Surprise, AZ 85374

3 Beds 2 Baths 1,668 sqft Built 2000

$340,000

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $203.84
  • 5 Days on Market
  • MLS # : 6174253
  • Updated Date : 12/23/2020 at 16:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,668 sqft
  • Baths : 2 full
Listing Agent

Offerpad

Listing Agent's Description

Don't miss this single story home in Mountain Vista Ranch! Tile flooring throughout, no carpet! The kitchen features granite countertops and tile backsplash, and stainless steel appliances. Split bedroom floorplan for added privacy. The primary bedroom has vaulted ceilings and an ensuite bathroom with dual sinks and a walk in closet. The backyard has a covered patio, artificial grass, and a sparkling pool. Vacant and ready for viewing, come see!

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
 

$306,000$374,000$340,000

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$1,254
Property Tax -$236
Property Insurance -$60
HOA -$8
Property Management Fees -$99
CASH FLOW
-$178

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.

$340,000

PROJECTED PRICE

$1,480

PROJECTED RENT

0.44%

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$10,336

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
  • $1,480

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,3503$1,4504$1,4505$1,500
$1,500
RENT COMPS ANALYSIS
  • 15908 W Tara Lane Surprise, AZ 1
    • 3 beds 2 baths ∙ 1,668 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,668 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 15943 W Central Street Surprise, AZ 2
    • 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 2001
    property image
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.86
    •  
  • 15904 W Carmen Drive Surprise, AZ 3
    • 3 beds 2 baths ∙ 1,668 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,668 Sqft ∙ Built 2000
    property image
    LEASED 01/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.87
    •  
  • 15676 W Caribbean Lane Surprise, AZ 4
    • 3 beds 2 baths ∙ 1,572 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,572 Sqft ∙ Built 2000
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.92
    •  
  • 15912 W Tara Lane Surprise, AZ 5
    • 3 beds 2 baths ∙ 1,668 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,668 Sqft ∙ Built 2000
    property image
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.90
    •  
PROPERTY LISTING DETAILS
Derek Dickson
Offerpad
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6174253
Last Updated: 12/23/2020
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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