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16033 W Gelding Drive Surprise, AZ 85379

4 Beds 2 Baths 2,011 sqft Built 2005

$350,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

January 31, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $174.04
  • 1 Days on Market
  • MLS # : 6188047
  • Updated Date : 01/31/2021 at 04:45
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,011 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

Beautiful one story home available in Surprise. Room to spread out with over 2000 sq ft of living space, 4 bedrooms, 2.bathrooms and an open concept floor plan with tile flooring. Well appointed kitchen boasts a plethora of cherry wood cabinetry, built in desk and a large center island with breakfast bar seating. Making it ideal for gathering with friends and family. Spacious master retreat includes en suite with dual sinks, soaking tub and separate shower. Enjoy mornings and evenings relaxing on your covered back patio. Perfect for sipping your favorite beverage or a BBQ. Do not miss out on this gem. Schedule your private showing today!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Legacy Parc

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $96k271k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Legacy Parc

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2950100010501100115012001250130013501400145015001550Rent in $9321567

* 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
Shadow Ridge High School High Regular 1,735 77 4

Shadow Ridge High School

  • Education Level: High
  • # of students: 1,735
  • # of teachers: 77
4
GreatSchools Rating
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$1,216
Property Tax -$243
Property Insurance -$66
HOA -$70
Property Management Fees -$99
CASH FLOW
-$94

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.

$350,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 7.5%
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$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$12,886

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
  • $1,594

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,5003$1,5954$1,6355$1,645
$1,645
RENT COMPS ANALYSIS
  • 16033 W Gelding Drive Surprise, AZ 1
    • 4 beds 2 baths ∙ 2,011 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,011 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 15953 W Gelding Drive Surprise, AZ 2
    • 4 beds 2 baths ∙ 2,011 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,011 Sqft ∙ Built 2004
    property image
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.75
    •  
  • 16224 W Hearn Road Surprise, AZ 3
    • 4 beds 2 baths ∙ 2,011 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,011 Sqft ∙ Built 2003
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.79
    •  
  • 15974 W Evans Drive Surprise, AZ 4
    • 4 beds 2 baths ∙ 2,011 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,011 Sqft ∙ Built 2004
    property image
    LEASED 01/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,635
    • $0.81
    •  
  • 16178 W Watson Lane Surprise, AZ 5
    • 4 beds 2 baths ∙ 2,011 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,011 Sqft ∙ Built 2003
    property image
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.82
    •  
PROPERTY LISTING DETAILS
Fabiola Aboyte
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6188047
Last Updated: 01/31/2021
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. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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