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16222 W Mercer Lane Surprise, AZ 85379

4 Beds 4 Baths 2,810 sqft Built 2005

$419,000

List Price

$1,780

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $149.11
  • 4 Days on Market
  • MLS # : 6205866
  • Updated Date : 03/20/2021 at 14:31
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,810 sqft
  • Baths : 3 full , 1 half
Listing Agent

The Maricopa Real Estate Co

Listing Agent's Description

A Rare Find ... 4 bedroom, 3.5 bathroom, one owner, well maintained two story home over 2800 square feet featuring two primary bedrooms with en suites, and two other bedrooms with a Jack & Jill bathroom, large living room and kitchen downstairs with large island and lots of cabinet space. And you'll love the back yard with lots of decking, pergola and sparkling swimming pool to take the edge off those summer afternoons. Quiet neighborhood with community park and children's playground close by. Also close to everything Surprise and the surrounding communities have to offer so come on by and take a look.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Greer Ranch South

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $120k358k

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

Neighborhood: Greer Ranch South

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9791981

* 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
Shadow Ridge High School High Regular 1,735 77 4

Shadow Ridge High School

  • Education Level: High
  • # of students: 1,735
  • # of teachers: 77
4
GreatSchools Rating
 

$377,100$460,900$419,000

PURCHASE PRICE

$1,602$1,958$1,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,780
EXPENSES Loan Payment -$1,455
Property Tax -$291
Property Insurance -$82
HOA -$22
Property Management Fees -$99
CASH FLOW
-$170

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.

$419,000

PROJECTED PRICE

$1,780

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.9%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$116,785

INVESTMENT

$116,785

Down Payment
$104,750
Rehab Estimate
$5,750
Closing Costs
$6,285

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,455

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $104,750
Loan Amount $314,250
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$11,012

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,780

    LIST RENT
  • $0.63

    LIST RENT PER SQFT
  • $1,742

    COMP ESTIMATED VALUE
  • $0.62

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6523$1,7804$1,8005$1,895
$1,895
RENT COMPS ANALYSIS
  • 16222 W Mercer Lane Surprise, AZ 3
    • 4 beds 4 baths ∙ 2,810 Sqft ∙ Built 2005 4 beds 4 baths ∙ 2,810 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $0.63
    •  
  • 16185 W Shangri La Road Surprise, AZ 1
    • 4 beds 3 baths ∙ 2,879 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,879 Sqft ∙ Built 2005
    property image
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.56
    •  
  • 16163 W Yucatan Drive Surprise, AZ 2
    • 4 beds 3 baths ∙ 2,703 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,703 Sqft ∙ Built 2005
    property image
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,652
    • $0.61
    •  
  • 16090 W Shaw Butte Drive Surprise, AZ 4
    • 3 beds 3 baths ∙ 2,827 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,827 Sqft ∙ Built 2019
    property image
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.64
    •  
  • 15781 W Mercer Lane Surprise, AZ 5
    • 4 beds 3 baths ∙ 2,846 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,846 Sqft ∙ Built 2006
    property image
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.67
    •  
PROPERTY LISTING DETAILS
Carl Jay Shaver
The Maricopa Real Estate Co
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6205866
Last Updated: 03/20/2021
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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