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16220 N 174th Court Surprise, AZ 85388

3 Beds 2 Baths 1,993 sqft Built 2004

$340,000

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $170.60
  • 2 Days on Market
  • MLS # : 6206849
  • Updated Date : 03/13/2021 at 05:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,993 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Phoenix

Listing Agent's Description

Location! Location! Corner lot home in desirable Surprise is waiting just for you. You will surely fall in love with this home's beautiful architecture, 3 car garage, and lovely landscaping. Truly impressive open concept interior is complete with vaulted ceilings, plantation shutters, a formal dining room, carpet in all the right places, and a modern fireplace great for winter. Enjoy cooking in this gleaming eat-in kitchen with SS appliances, beautiful cabinetry, a pantry, breakfast bar, and granite counter-tops. The main bedroom gives you private exit, bay windows, and a lavish en-suite with dual sinks you'll adore. Entertain your guests in this amazing backyard with covered patio, above ground spa, gazebo and built-in BBQ. This is a true hidden gem that will not disappoint.

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
Willow Canyon High School High Regular 2,084 83 3

Willow Canyon High School

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

$306,000$374,000$340,000

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$1,181
Property Tax -$236
Property Insurance -$66
HOA -$72
Property Management Fees -$99
CASH FLOW
-$224

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.

$340,000

PROJECTED PRICE

$1,430

PROJECTED RENT

0.42%

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$4,149

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,500

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,325
1$1,3252$1,4303$1,4754$1,5505$1,575
$1,575
RENT COMPS ANALYSIS
  • 16220 N 174th Court Surprise, AZ 2
    • 3 beds 2 baths ∙ 1,993 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,993 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $0.72
    •  
  • 15425 N 172nd Drive Surprise, AZ 1
    • 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 2003
    property image
    LEASED 01/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.74
    •  
  • 17134 W Ironwood Street Surprise, AZ 3
    • 3 beds 3 baths ∙ 1,948 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,948 Sqft ∙ Built 2005
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.76
    •  
  • 15927 N 175th Drive Surprise, AZ 4
    • 3 beds 2 baths ∙ 2,149 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,149 Sqft ∙ Built 2005
    property image
    LEASED 10/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.72
    •  
  • 15923 N 174th Avenue Surprise, AZ 5
    • 3 beds 2 baths ∙ 1,993 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,993 Sqft ∙ Built 2004
    property image
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.79
    •  
PROPERTY LISTING DETAILS
Bethanie Madewell
Keller Williams Realty Phoenix
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6206849
Last Updated: 03/13/2021
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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