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16042 W Shangri La Road Surprise, AZ 85379

4 Beds 3 Baths 3,451 sqft Built 2006

$500,000

List Price

$1,980

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $144.89
  • 2 Days on Market
  • MLS # : 6187817
  • Updated Date : 01/30/2021 at 16:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,451 sqft
  • Baths : 3 full
Listing Agent

Kenneth James Realty

Listing Agent's Description

Just, WOW! This home features a gorgeous remodel. Gourmet kitchen designed for the most discerning chef with stainless steel appliances, upgraded cabinetry with stylish hardware, quartz countertops, tiled backsplash & adjacent built in bar area with floating shelves. Breakfast nook boasts built-in cabinetry with a Perlick beverage fridge. High-end Restoration Hardware lighting throughout. A dual staircase leads to the 2nd floor with an oversized master bedroom of your dreams. Fully renovated spa-like bathroom with large walk-in shower with dual shower heads. Gorgeous dual vanity with quartz countertops, designer lighting & mirrors. Large game/media room in addition to a loft. Resort style backyard with pool perfect for entertaining. Large built in BBQ, extended patio with new ramada..

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Greer Ranch South

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $120k358k

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

Neighborhood: Greer Ranch South

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9791981

* 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
 

$450,000$550,000$500,000

PURCHASE PRICE

$1,782$2,178$1,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,980
EXPENSES Loan Payment -$1,737
Property Tax -$348
Property Insurance -$94
HOA -$22
Property Management Fees -$99
CASH FLOW
-$320

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$500,000

PROJECTED PRICE

$1,980

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,250

INVESTMENT

$138,250

Down Payment
$125,000
Rehab Estimate
$5,750
Closing Costs
$7,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,737

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $125,000
Loan Amount $375,000
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$6,805

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
  • $2,079

    COMP ESTIMATED VALUE
  • $0.6

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,7503$1,8004$2,0505$2,195
$2,195
RENT COMPS ANALYSIS
  • 16042 W Shangri La Road Surprise, AZ 1
    • 4 beds 3 baths ∙ 3,451 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,451 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 15976 W Clinton Street Surprise, AZ 2
    • 5 beds 4 baths ∙ 3,134 Sqft ∙ Built 2005 5 beds 4 baths ∙ 3,134 Sqft ∙ Built 2005
    LEASED 04/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.56
    •  
  • 16109 W Christy Drive Surprise, AZ 3
    • 5 beds 4 baths ∙ 3,134 Sqft ∙ Built 2005 5 beds 4 baths ∙ 3,134 Sqft ∙ Built 2005
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.57
    •  
  • 11877 N 156th Lane Surprise, AZ 4
    • 5 beds 3 baths ∙ 3,207 Sqft ∙ Built 2007 5 beds 3 baths ∙ 3,207 Sqft ∙ Built 2007
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.64
    •  
  • 16053 W Yucatan Drive Surprise, AZ 5
    • 5 beds 3 baths ∙ 3,451 Sqft ∙ Built 2005 5 beds 3 baths ∙ 3,451 Sqft ∙ Built 2005
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.64
    •  
PROPERTY LISTING DETAILS
Sara Loos
Kenneth James Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6187817
Last Updated: 01/30/2021
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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