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15916 W Smokey Drive Surprise, AZ 85374

3 Beds 2 Baths 1,320 sqft Built 1998

$247,500

List Price

$1,280

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $187.50
  • 2 Days on Market
  • MLS # : 6165497
  • Updated Date : 11/27/2020 at 21:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,320 sqft
  • Baths : 2 full
Listing Agent

Cts Realty

Listing Agent's Description

**REMODELED**GREAT FAMILY COMMUNITY nestled in the heart of Surprise just minutes to Surprise Stadium & Recreation Center~3 bd / 2 bath / 2 car garage home w/BRAND-NEW EXTERIOR paint, BRAND-NEW DESIGNER TWO-TONED INTERIOR paint, BRAND-NEW WOOD-LOOK VINYL-PLANK FLOORING, BRAND-NEW LIGHT FIXTURES, NEWER BLINDS, BRAND-NEW CARPET in bedrooms ONLY, BRAND-NEW PLUMBING-FIXTURES, NEWER slider-glass-door~Separate, front, formal living-room~Family great-room off kitchen & breakfast-nook~Kitchen includes BRAND-NEW STAINLESS APPLIANCES & REFINISHED cabinetry~Master bd suite is spacious w/walk-in closet~Secondary bedrooms are roomy~2 car garage has WORKSHOP BENCH~Frontyard has BRAND-NEW landscaping & drip-system~BEST STARTER-HOME in Surprise for UNDER 250K 10+++

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
 

$222,750$272,250$247,500

PURCHASE PRICE

$1,152$1,408$1,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,280
EXPENSES Loan Payment -$913
Property Tax -$172
Property Insurance -$53
HOA -$8
Property Management Fees -$99
CASH FLOW
$34

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.

$247,500

PROJECTED PRICE

$1,280

PROJECTED RENT

0.52%

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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,338

INVESTMENT

$71,338

Down Payment
$61,875
Rehab Estimate
$5,750
Closing Costs
$3,713

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$913

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,875
Loan Amount $185,625
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$21,600

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,280

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,350

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,2803$1,2994$1,3955$1,550
$1,550
RENT COMPS ANALYSIS
  • 15916 W Smokey Drive Surprise, AZ 2
    • 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,280
    • $0.97
    •  
  • 15909 W Elm Street Surprise, AZ 1
    • 3 beds 2 baths ∙ 1,199 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,199 Sqft ∙ Built 1998
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.00
    •  
  • 15725 W Smokey Drive Surprise, AZ 3
    • 3 beds 2 baths ∙ 1,220 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,220 Sqft ∙ Built 1996
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $1.06
    •  
  • 15883 W Tasha Drive Surprise, AZ 4
    • 3 beds 2 baths ∙ 1,458 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,458 Sqft ∙ Built 1998
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.96
    •  
  • 15682 W Carmen Drive Surprise, AZ 5
    • 3 beds 2 baths ∙ 1,452 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,452 Sqft ∙ Built 2001
    LEASED 01/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.07
    •  
PROPERTY LISTING DETAILS
Sherry A Mcqueen
Cts Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6165497
Last Updated: 11/27/2020
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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