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16026 W Carmen Drive Surprise, AZ 85374

4 Beds 2 Baths 2,118 sqft Built 2002

INVESTimate

$279,997

List Price

$1,580

$1,422 - $1,738

Rent Est.

$299,877  ( +7.10%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $132.20
  • 2 Days on Market
  • MLS # : 6122416
  • Updated Date : 08/25/2020 at 14:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,118 sqft
  • Baths : 2 full
Listing Agent

Realty Executives

Listing Agent's Description

BEAUTIFUL 4 BEDROOM, 2 BATH HOME IN MOUNTAIN VISTA RANCH! THIS HOME SITS ON AN INTERIOR LOT ON A QUIET STREET. NEWLY RENOVATED WITH FRESH PAINT, NEWER STAINLESS STEEL APPLIANCES, TILE FLOORS ON THE DIAGONAL IN THE LIVING AREAS AND NEW CARPET IN THE BEDROOMS. THERE IS AN ARIZONA ROOM WITH AUTOMATIC ROLL SHIELD SHUTTERS FOR THE ULTIMATE IN SECURITY, PRIVACY AND ENERGY EFFICIENCY. THE FULLY LANDSCAPED YARD IS ON AN AUTOMATIC WATERING SYSTEM. TO TOP IT OFF, THERE ARE UPGRADED LIGHT FIXTURES AND FANS THROUGHOUT. THIS MOVE IN READY HOUSE WILL GO FAST SO COME SEE IT TODAY

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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
 

$251,997$307,997$279,997

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

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$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$1,033
Property Tax -$195
Property Insurance -$68
HOA -$25
Property Management Fees -$99
CASH FLOW
$160

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.

$279,997

PROJECTED PRICE

$1,580

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 7.10%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,949

INVESTMENT

$79,949

Down Payment
$69,999
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,999
Loan Amount $209,998
See What Happens When You Reinvest Cash Flow

8.5

YEARS SAVED

$37,405

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,747

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,580
1$1,5802$1,5953$1,6954$1,8005$1,895
$1,895
RENT COMPS ANALYSIS
  • 16026 W Carmen Drive Surprise, 1
    • 4 beds 2 baths ∙ 2,118 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,118 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.75
    •  
  • 16020 W Custer Lane Surprise, 2
    • 3 beds 2 baths ∙ 1,930 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,930 Sqft ∙ Built 2004
    LEASED 09/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.83
    •  
  • 16091 W Desert Lane Surprise, 3
    • 4 beds 3 baths ∙ 2,037 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,037 Sqft ∙ Built 2001
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.83
    •  
  • 16148 N 157th Drive Surprise, 4
    • 3 beds 2 baths ∙ 2,214 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,214 Sqft ∙ Built 1999
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.81
    •  
  • 15632 N 156th Lane Surprise, 5
    • 3 beds 3 baths ∙ 2,274 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,274 Sqft ∙ Built 2004
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.83
    •  
PROPERTY LISTING DETAILS
Rob Harris
Realty Executives
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6122416
Last Updated: 08/25/2020
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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