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16213 W Desert Canyon Drive Surprise, AZ 85374

2 Beds 2 Baths 1,414 sqft Built 1998

$324,900

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $229.77
  • 5 Days on Market
  • MLS # : 6158880
  • Updated Date : 11/13/2020 at 12:12
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,414 sqft
  • Baths : 1 full , 1 half
Listing Agent

Sterling Fine Properties

Listing Agent's Description

Brand NEW Remodel. The Acacia model is the ideal home for permanent residents looking to down-size, seasonal visitors, or as an investment to rent to snowbirds with 2 BR, 1.75 Baths and an accommodating great room for relaxing or entertaining. The neutral color scheme and tile will lend itself to your furniture and decor. The master bedroom has a bay window perfect for a reading nook, a spacious walk-in closet, and an en-suite bathroom. Discover other extras that will delight you, such as pullouts in the cupboards, a garage with cabinets, a workbench, and a utility sink, and a large pantry. Add in a N/S orientation, newer A/C, and a location convenient to Adobe Center, Palm Center, and CVS and you have the recipe for relaxation.

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
 

$292,410$357,390$324,900

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$1,199
Property Tax -$226
Property Insurance -$55
HOA -$133
Property Management Fees -$99
CASH FLOW
-$211

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.

$324,900

PROJECTED PRICE

$1,500

PROJECTED RENT

0.46%

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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$91,849

INVESTMENT

$91,849

Down Payment
$81,225
Rehab Estimate
$5,750
Closing Costs
$4,874

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,225
Loan Amount $243,675
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$6,371

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,647

    COMP ESTIMATED VALUE
  • $1.17

    COMP AVG. RENT PER SQFT
Comps Range
$1,375
1$1,3752$1,4503$1,4954$1,5005$1,800
$1,800
RENT COMPS ANALYSIS
  • 16213 W Desert Canyon Drive Surprise, AZ 4
    • 2 beds 2 baths ∙ 1,414 Sqft ∙ Built 1998 2 beds 2 baths ∙ 1,414 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.06
    •  
  • 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
    •  
  • 16149 W Quail Creek Lane Surprise, AZ 3
    • 2 beds 2 baths ∙ 1,255 Sqft ∙ Built 1997 2 beds 2 baths ∙ 1,255 Sqft ∙ Built 1997
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.19
    •  
  • 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
William P Lewis
Sterling Fine Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6158880
Last Updated: 11/13/2020
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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