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16138 W Eagle Ridge Drive Surprise, AZ 85374

2 Beds 2 Baths 1,434 sqft Built 1998

$319,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 1998
  • Price/Sqft : $222.45
  • 6 Days on Market
  • MLS # : 6155563
  • Updated Date : 11/04/2020 at 12:46
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,434 sqft
  • Baths : 2 full
Listing Agent

Offerpad

Listing Agent's Description

Exquisite home in Sun City Grand, Perfect central location within the community! Golf and shopping is just a golf cart ride away! This gorgeous home shows like a model! New paint inside and out, new roof underlayment, and HVAC unit. Move in READY! Unique Kitchen has butlers pantry off to one side, and updated quality finishes and appliances. Plantation Shutters and closet organizers in all the right places. New Wood like flooring in the Living, dining and kitchen areas. Transome windows throughout. Garage has added storage with epoxy flooring. This entire home is move in READY! Updated to perfection! Don't miss out on this one!!!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Sun City Grand Desert Canyon

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $109k357k

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

Neighborhood: Sun City Grand Desert Canyon

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9791961

* 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
Kingswood Elementary School Primary Regular 674 36 4
Kingswood Elementary School Middle Regular 674 36 4
Willow Canyon High School High Regular 2,084 83 3

Kingswood Elementary School

  • Education Level: Primary
  • # of students: 674
  • # of teachers: 36
4
GreatSchools Rating

Kingswood Elementary School

  • Education Level: Middle
  • # of students: 674
  • # of teachers: 36
4
GreatSchools Rating

Willow Canyon High School

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

$287,100$350,900$319,000

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 -$1,177
Property Tax -$222
Property Insurance -$55
HOA -$11
Property Management Fees -$99
CASH FLOW
$36

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.

$319,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 3.0%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,285

INVESTMENT

$90,285

Down Payment
$79,750
Rehab Estimate
$5,750
Closing Costs
$4,785

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,177

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,750
Loan Amount $239,250
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$27,130

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $1,699

    COMP ESTIMATED VALUE
  • $1.19

    COMP AVG. RENT PER SQFT
Comps Range
$1,375
1$1,3752$1,4503$1,5004$1,6005$1,800
$1,800
RENT COMPS ANALYSIS
  • 16138 W Eagle Ridge Drive Surprise, AZ 4
    • 2 beds 2 baths ∙ 1,434 Sqft ∙ Built 1998 2 beds 2 baths ∙ 1,434 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.12
    •  
  • 19734 N Wind Rose Way Surprise, AZ 1
    • 2 beds 2 baths ∙ 1,113 Sqft ∙ Built 1997 2 beds 2 baths ∙ 1,113 Sqft ∙ Built 1997
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $1.24
    •  
  • 15907 W Sunstone Lane Surprise, AZ 2
    • 2 beds 2 baths ∙ 1,300 Sqft ∙ Built 1996 2 beds 2 baths ∙ 1,300 Sqft ∙ Built 1996
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.12
    •  
  • 18320 N Las Rocas Way Surprise, AZ 3
    • 2 beds 2 baths ∙ 1,183 Sqft ∙ Built 1998 2 beds 2 baths ∙ 1,183 Sqft ∙ Built 1998
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.27
    •  
  • 19765 N Wind Rose Way Surprise, AZ 5
    • 2 beds 2 baths ∙ 1,627 Sqft ∙ Built 1997 2 beds 2 baths ∙ 1,627 Sqft ∙ Built 1997
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.11
    •  
PROPERTY LISTING DETAILS
Dean W. Stevens
Offerpad
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6155563
Last Updated: 11/04/2020
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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