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16248 W Monroe Street Goodyear, AZ 85338

4 Beds 3 Baths 1,862 sqft Built 2001

$320,000

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

February 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $171.86
  • 1 Days on Market
  • MLS # : 6191046
  • Updated Date : 02/07/2021 at 00:14
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,862 sqft
  • Baths : 2 full , 1 half
Listing Agent

Flm Realty

Listing Agent's Description

Sharp Move In ready home in sought after Wildflower Ranch. Fresh interior paint. New carpet. Tile in the bathrooms and laundry room. Gleaming laminate floors throughout downstairs. Beautiful maple cabinetry. Spacious master suite features dual sinks and walk-in closet. Large bedroom with walking closet. Ceiling fans and blinds throughout. Oversized walk-in pantry. Huge backyard, great potential. RV Gate. Low HOA dues. Built-in storage cabinets in garage. New 410A A/C(2018) Great location close to schools, shopping, restaurants and I-10.(Water softener is as-is).

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Wildflower Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $81k302k

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

Neighborhood: Wildflower Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8241646

* 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
Desert Edge High School High Regular 1,744 80 3

Desert Edge High School

  • Education Level: High
  • # of students: 1,744
  • # of teachers: 80
3
GreatSchools Rating
 

$288,000$352,000$320,000

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$1,111
Property Tax -$233
Property Insurance -$63
HOA -$5
Property Management Fees -$99
CASH FLOW
$18

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.

$320,000

PROJECTED PRICE

$1,530

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 7.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,550

INVESTMENT

$90,550

Down Payment
$80,000
Rehab Estimate
$5,750
Closing Costs
$4,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,111

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $80,000
Loan Amount $240,000
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$19,864

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,643

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,530
1$1,5302$1,6003$1,6004$1,6955$1,750
$1,750
RENT COMPS ANALYSIS
  • 16248 W Monroe Street Goodyear, AZ 1
    • 4 beds 3 baths ∙ 1,862 Sqft ∙ Built 2001 4 beds 3 baths ∙ 1,862 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $0.82
    •  
  • 15715 W Melvin Street Goodyear, AZ 2
    • 3 beds 3 baths ∙ 1,808 Sqft ∙ Built 2019 3 beds 3 baths ∙ 1,808 Sqft ∙ Built 2019
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.88
    •  
  • 16521 W Madison Street Goodyear, AZ 3
    • 3 beds 2 baths ∙ 1,936 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,936 Sqft ∙ Built 2006
    LEASED 12/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.83
    •  
  • 751 N 165th Avenue Goodyear, AZ 4
    • 3 beds 2 baths ∙ 1,862 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,862 Sqft ∙ Built 2001
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.91
    •  
  • 16377 W Latham Street Goodyear, AZ 5
    • 3 beds 3 baths ∙ 1,931 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,931 Sqft ∙ Built 2016
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.91
    •  
PROPERTY LISTING DETAILS
Fabien Loison
Flm Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6191046
Last Updated: 02/07/2021
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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