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16248 N Aspen Drive Fountain Hills, AZ 85268

4 Beds 3 Baths 2,700 sqft Built 1984

INVESTimate

$525,000

List Price

$2,380

$2,142 - $2,618

Rent Est.

$541,958  ( +3.23%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1984
  • Price/Sqft : $194.44
  • 9 Days on Market
  • MLS # : 6118894
  • Updated Date : 08/24/2020 at 16:32
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,700 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Prime

Listing Agent's Description

This spacious home has it all and is in turnkey condition. Located on a low traffic quiet street, No HOA, on a large lot backing to an arroyo with McDowell mountain views. 4 bedrooms, plus den, 2.5 baths, with an open great room style floorplan all on a single level with no interior steps. Great room with fireplace exits to covered patio and sparkling pool with updated variable speed pool pump and new crawler. New kitchen with granite counters, wood-look flooring, coffee bar and stainless-steel appliances. Two new UV AC unit, two new water heaters, new light fixtures, paint, and hardware. Master has private bath with exit to side yard and the powder room exits to the pool. Large laundry room off GR. Pre-Inspected home. Hard to find this size with these amenities at this price.

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PRICE & RENT TRENDS

Neighborhood: Fountain Hills

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $122k408k

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

Neighborhood: Fountain Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10452077

* 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
Four Peaks Elementary School Primary Regular 243 9 6
Fountain Hills Middle School Middle Regular 372 22 7
Fountain Hills High School High Regular 617 31 7

Four Peaks Elementary School

  • Education Level: Primary
  • # of students: 243
  • # of teachers: 9
6
GreatSchools Rating

Fountain Hills Middle School

  • Education Level: Middle
  • # of students: 372
  • # of teachers: 22
7
GreatSchools Rating

Fountain Hills High School

  • Education Level: High
  • # of students: 617
  • # of teachers: 31
7
GreatSchools Rating
 

$472,500$577,500$525,000

PURCHASE PRICE

$2,142$2,618$2,380

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,380
EXPENSES Loan Payment -$1,937
Property Tax -$280
Property Insurance -$80
Property Management Fees -$99
CASH FLOW
-$16

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.

$525,000

PROJECTED PRICE

$2,380

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.23%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$144,875

INVESTMENT

$144,875

Down Payment
$131,250
Rehab Estimate
$5,750
Closing Costs
$7,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,937

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $131,250
Loan Amount $393,750
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$35,940

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $2,822

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,6003$2,8004$3,0005$3,200
$3,200
RENT COMPS ANALYSIS
  • 16248 N Aspen Drive Fountain Hills, 1
    • 4 beds 3 baths ∙ 2,700 Sqft ∙ Built 1984 4 beds 3 baths ∙ 2,700 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 15811 E Richwood Avenue Fountain Hills, 2
    • 4 beds 3 baths ∙ 2,431 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,431 Sqft ∙ Built 1979
    LEASED 04/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.07
    •  
  • 15843 N Aspen Drive Fountain Hills, 3
    • 4 beds 2 baths ∙ 2,700 Sqft ∙ Built 1988 4 beds 2 baths ∙ 2,700 Sqft ∙ Built 1988
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.04
    •  
  • 15740 E Tumbleweed Drive Fountain Hills, 4
    • 4 beds 3 baths ∙ 2,958 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,958 Sqft ∙ Built 1990
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.01
    •  
  • 13641 N Mesquite Lane Fountain Hills, 5
    • 3 beds 3 baths ∙ 3,012 Sqft ∙ Built 1999 3 beds 3 baths ∙ 3,012 Sqft ∙ Built 1999
    LEASED 04/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.06
    •  
PROPERTY LISTING DETAILS
Jeff Kwartler
Re/max Prime
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6118894
Last Updated: 08/24/2020
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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