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15948 N 162nd Lane Surprise, AZ 85374

4 Beds 3 Baths 2,320 sqft Built 2000

$347,500

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $149.78
  • 3 Days on Market
  • MLS # : 6167862
  • Updated Date : 12/05/2020 at 07:27
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,320 sqft
  • Baths : 3 full
Listing Agent

Homesmart

Listing Agent's Description

INCREDIBLE FIND! This property has an enormous park-like backyard with mature trees, mountain views and a swimming pool. Quiet cul-de-sac lot with no homes directly behind you, providing a feeling of even more space! This house also features block construction, 4 bedrooms and 3 full bathrooms. Master has separate his and her closets and a large balcony overlooking the grounds. 3 car garage is extra deep for longer vehicles. Move-in ready with fresh paint inside and out.

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
 

$312,750$382,250$347,500

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$1,282
Property Tax -$242
Property Insurance -$72
HOA -$8
Property Management Fees -$99
CASH FLOW
-$83

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.

$347,500

PROJECTED PRICE

$1,620

PROJECTED RENT

0.47%

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$14k

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$97,838

INVESTMENT

$97,838

Down Payment
$86,875
Rehab Estimate
$5,750
Closing Costs
$5,213

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,282

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $86,875
Loan Amount $260,625
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$17,780

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,676

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,6203$1,6454$1,7005$1,800
$1,800
RENT COMPS ANALYSIS
  • 15948 N 162nd Lane Surprise, AZ 2
    • 4 beds 3 baths ∙ 2,320 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,320 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.70
    •  
  • 16562 W Central Street Surprise, AZ 1
    • 4 beds 3 baths ∙ 2,192 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,192 Sqft ∙ Built 2003
    property image
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.64
    •  
  • 16852 W Tasha Drive Surprise, AZ 3
    • 3 beds 3 baths ∙ 2,255 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,255 Sqft ∙ Built 2003
    property image
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.73
    •  
  • 15901 W Port Au Prince Lane Surprise, AZ 4
    • 4 beds 3 baths ∙ 2,382 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,382 Sqft ∙ Built 2003
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.71
    •  
  • 16148 N 157th Drive Surprise, AZ 5
    • 3 beds 2 baths ∙ 2,214 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,214 Sqft ∙ Built 1999
    property image
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.81
    •  
PROPERTY LISTING DETAILS
David Ibbotson
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6167862
Last Updated: 12/05/2020
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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