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16324 N 171st Lane Surprise, AZ 85388

5 Beds 3 Baths 2,543 sqft Built 2005

$345,000

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $135.67
  • 5 Days on Market
  • MLS # : 6188266
  • Updated Date : 02/05/2021 at 19:51
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,543 sqft
  • Baths : 2 full , 1 half
Listing Agent

Cramer & Associates R.e.

Listing Agent's Description

Beautiful and Spacious! Wonderful Surprise Farms 5Bedroom. Premium view lot backs to lush greenbelt that leads North to volleyball and South to playground. Downstairs has front living room & formal dining, den. Rear family room off Eat-in kitchen. Upgraded cabinets, stainless appliances, granite counters & island. Upstairs has loft + 5 Bedrooms. Master has separate shower & tub + large walk-in closet. Security door on front & back. Park like backyard has extended covered patio which extends out with custom brick pavers. No maintenance artificial grass putting green. Outdoor bbq & custom firepit w/ benches. Extra wide RV gate for toys (under fence line). Truly a great home! Close to 303 Freeway/Shopping & Dining.

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
 

$310,500$379,500$345,000

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$1,198
Property Tax -$240
Property Insurance -$77
HOA -$72
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.

$345,000

PROJECTED PRICE

$1,670

PROJECTED RENT

0.48%

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$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$97,175

INVESTMENT

$97,175

Down Payment
$86,250
Rehab Estimate
$5,750
Closing Costs
$5,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,198

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $86,250
Loan Amount $258,750
See What Happens When You Reinvest Cash Flow

4.83

YEARS SAVED

$16,893

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
  • $1,806

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,5953$1,6754$1,7705$1,785
$1,785
RENT COMPS ANALYSIS
  • 16324 N 171st Lane Surprise, AZ 1
    • 5 beds 3 baths ∙ 2,543 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,543 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 16621 N 171st Drive Surprise, AZ 2
    • 4 beds 3 baths ∙ 2,429 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,429 Sqft ∙ Built 2005
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.66
    •  
  • 16903 W Marconi Avenue Surprise, AZ 3
    • 4 beds 3 baths ∙ 2,426 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,426 Sqft ∙ Built 2005
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.69
    •  
  • 17236 W Marshall Lane Surprise, AZ 4
    • 4 beds 3 baths ∙ 2,379 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,379 Sqft ∙ Built 2004
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.74
    •  
  • 15945 N 173rd Avenue Surprise, AZ 5
    • 4 beds 3 baths ∙ 2,379 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,379 Sqft ∙ Built 2004
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,785
    • $0.75
    •  
PROPERTY LISTING DETAILS
Tommy P Cramer
Cramer & Associates R.e.
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6188266
Last Updated: 02/05/2021
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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