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16116 W Washington Street Goodyear, AZ 85338

3 Beds 2 Baths 1,266 sqft Built 1999

$224,900

List Price

$1,290

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1999
  • Price/Sqft : $177.65
  • 2 Days on Market
  • MLS # : 6157525
  • Updated Date : 11/06/2020 at 19:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,266 sqft
  • Baths : 2 full
Listing Agent

My Rental Superstore

Listing Agent's Description

Nice 3bedroom, 2 bath home in Goodyear. On quiet cul-de-sac in WildFlower Ranch! Needs a little TLC priced below market value! Tile throughout , carpet in bedrooms only! Close to dining, shopping, and more! With convenient access to the loop I10, 303 & 101 freeway, you are just minutes away from everything you need.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Wildflower Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $81k302k

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

Neighborhood: Wildflower Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8241646

* 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
Wildflower School Primary Regular 544 29 4
Wildflower School Middle Regular 544 29 4
Desert Edge High School High Regular 1,744 80 3

Wildflower School

  • Education Level: Primary
  • # of students: 544
  • # of teachers: 29
4
GreatSchools Rating

Wildflower School

  • Education Level: Middle
  • # of students: 544
  • # of teachers: 29
4
GreatSchools Rating

Desert Edge High School

  • Education Level: High
  • # of students: 1,744
  • # of teachers: 80
3
GreatSchools Rating
 

$202,410$247,390$224,900

PURCHASE PRICE

$1,161$1,419$1,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,290
EXPENSES Loan Payment -$830
Property Tax -$164
Property Insurance -$52
HOA -$5
Property Management Fees -$99
CASH FLOW
$140

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.

$224,900

PROJECTED PRICE

$1,290

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 7.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$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$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,349

INVESTMENT

$65,349

Down Payment
$56,225
Rehab Estimate
$5,750
Closing Costs
$3,374

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,225
Loan Amount $168,675
See What Happens When You Reinvest Cash Flow

8.67

YEARS SAVED

$30,770

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
  • $1,285

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,2953$1,2954$1,3005$1,395
$1,395
RENT COMPS ANALYSIS
  • 16116 W Washington Street Goodyear, AZ 1
    • 3 beds 2 baths ∙ 1,266 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,266 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 16082 W Morning Glory Street Goodyear, AZ 2
    • 3 beds 2 baths ∙ 1,262 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,262 Sqft ∙ Built 1999
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.03
    •  
  • 16056 W Madison Street Goodyear, AZ 3
    • 3 beds 2 baths ∙ 1,262 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,262 Sqft ∙ Built 1999
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.03
    •  
  • 16189 W Washington Street Goodyear, AZ 4
    • 3 beds 2 baths ∙ 1,266 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,266 Sqft ∙ Built 1999
    LEASED 12/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.03
    •  
  • 16176 W Adams Street Goodyear, AZ 5
    • 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 2000
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.97
    •  
PROPERTY LISTING DETAILS
Randee Brennan
My Rental Superstore
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6157525
Last Updated: 11/06/2020
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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