Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

16121 N 168th Avenue Surprise, AZ 85388

4 Beds 3 Baths 2,567 sqft Built 2003

$350,000

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $136.35
  • 3 Days on Market
  • MLS # : 6176052
  • Updated Date : 01/01/2021 at 16:34
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,567 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group

Listing Agent's Description

Spacious pool home in Surprise Farms! Downstairs features 2 living areas, half bath, kitchen, dining and access to lovely turf and paver backyard with separate fenced pool. Roomy loft greets you at the top of the stairs, along with 3 bedrooms, full bath, and an oversized Master bedroom. Master bath features double sinks, separate tub and shower, and walk in closet. All the space you need and a great outdoor living space await you in this Surprise home!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Surprise Farms

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $120k358k

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

Neighborhood: Surprise Farms

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9631981

* 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
Cimarron Springs Elementary School Primary Regular 950 45 7
Cimarron Springs Elementary School Middle Regular 950 45 7
Willow Canyon High School High Regular 2,084 83 3

Cimarron Springs Elementary School

  • Education Level: Primary
  • # of students: 950
  • # of teachers: 45
7
GreatSchools Rating

Cimarron Springs Elementary School

  • Education Level: Middle
  • # of students: 950
  • # of teachers: 45
7
GreatSchools Rating

Willow Canyon High School

  • Education Level: High
  • # of students: 2,084
  • # of teachers: 83
3
GreatSchools Rating
 

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

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$1,291
Property Tax -$243
Property Insurance -$77
HOA -$44
Property Management Fees -$99
CASH FLOW
$75

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.

$350,000

PROJECTED PRICE

$1,830

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.3%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$30,576

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,830

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,694

    COMP ESTIMATED VALUE
  • $0.66

    COMP AVG. RENT PER SQFT
Comps Range
$1,390
1$1,3902$1,5953$1,5954$1,6755$1,830
$1,830
RENT COMPS ANALYSIS
  • 16121 N 168th Avenue Surprise, AZ 5
    • 4 beds 3 baths ∙ 2,567 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,567 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $0.71
    •  
  • 16812 W Rimrock Street Surprise, AZ 1
    • 3 beds 3 baths ∙ 2,220 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,220 Sqft ∙ Built 2004
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $0.63
    •  
  • 16621 N 171st Drive Surprise, AZ 2
    • 4 beds 3 baths ∙ 2,429 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,429 Sqft ∙ Built 2005
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.66
    •  
  • 15905 N 169th Drive Surprise, AZ 3
    • 4 beds 3 baths ∙ 2,426 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,426 Sqft ∙ Built 2004
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.66
    •  
  • 16903 W Marconi Avenue Surprise, AZ 4
    • 4 beds 3 baths ∙ 2,426 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,426 Sqft ∙ Built 2005
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.69
    •  
PROPERTY LISTING DETAILS
Carolyn Campero
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6176052
Last Updated: 01/01/2021
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.

BESbswy