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16021 W Carmen Drive Surprise, AZ 85374

4 Beds 2 Baths 1,640 sqft Built 2002

$309,000

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $188.41
  • 3 Days on Market
  • MLS # : 6181208
  • Updated Date : 01/16/2021 at 03:42
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,640 sqft
  • Baths : 2 full
Listing Agent

Delex Realty

Listing Agent's Description

Well maintained home with a POOL!!Perfect home with tile and hard wood floors throughout!! New kitchen sink and faucet! Split floor plan. Master bath has 2 sinks and a large walk in closet. New glass door slides open to a large covered patio great for entertaining in your well maintained backyard with a sparkling pool with fresh new water. Stop by today for a showing.

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
 

$278,100$339,900$309,000

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$1,073
Property Tax -$215
Property Insurance -$59
HOA -$7
Property Management Fees -$99
CASH FLOW
$77

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.

$309,000

PROJECTED PRICE

$1,530

PROJECTED RENT

0.50%

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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,635

INVESTMENT

$87,635

Down Payment
$77,250
Rehab Estimate
$5,750
Closing Costs
$4,635

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,073

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,250
Loan Amount $231,750
See What Happens When You Reinvest Cash Flow

6.92

YEARS SAVED

$25,450

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,484

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4503$1,5004$1,5305$1,600
$1,600
RENT COMPS ANALYSIS
  • 16021 W Carmen Drive Surprise, AZ 4
    • 4 beds 2 baths ∙ 1,640 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,640 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $0.93
    •  
  • 15904 W Carmen Drive Surprise, AZ 1
    • 3 beds 2 baths ∙ 1,668 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,668 Sqft ∙ Built 2000
    LEASED 01/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.87
    •  
  • 15676 W Caribbean Lane Surprise, AZ 2
    • 3 beds 2 baths ∙ 1,572 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,572 Sqft ∙ Built 2000
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.92
    •  
  • 15912 W Tara Lane Surprise, AZ 3
    • 3 beds 2 baths ∙ 1,668 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,668 Sqft ∙ Built 2000
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.90
    •  
  • 16043 W Tara Lane Surprise, AZ 5
    • 4 beds 2 baths ∙ 1,718 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,718 Sqft ∙ Built 2001
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.93
    •  
PROPERTY LISTING DETAILS
Barbara Forsyth
Delex Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6181208
Last Updated: 01/16/2021
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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