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16371 W Mesquite Drive Goodyear, AZ 85338

3 Beds 2 Baths 1,990 sqft Built 2016

$340,000

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $170.85
  • 4 Days on Market
  • MLS # : 6198947
  • Updated Date : 02/27/2021 at 23:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,990 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Arizona Realty

Listing Agent's Description

This home sits on an oversized homesite with no backyard neighbors & single story homes on both sides and offers 3 oversized bedrooms & 2 baths in 1990 SqFt with an open great room floor plan, spacious dining area & split bedrooms. The kitchen features staggered maple cabinets with crown molding, granite counters, tile backsplash, gas range, stainless appliances, & island with breakfast bar & pendant lighting. The great room has surround sound, custom feature wall, & sliding doors that lead out to the covered patio with a gas stub for your BBQ, and a large backyard awaiting your landscape design. The master retreat has a big walk-in closet, sitting area perfect for a home office or nursery, & en-suite bath with privacy door, dual sink vanity, and oversized tiled shower with bench seating.*

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Canyon Trails

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $99k302k

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

Neighborhood: Canyon Trails

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9311646

* 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
 

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

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$1,181
Property Tax -$227
Property Insurance -$66
HOA -$78
Property Management Fees -$99
CASH FLOW
-$41

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$340,000

PROJECTED PRICE

$1,610

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.7%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
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$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 50% 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

4.58

YEARS SAVED

$16,228

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,622

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,525
1$1,5252$1,5503$1,6004$1,6105$1,750
$1,750
RENT COMPS ANALYSIS
  • 16371 W Mesquite Drive Goodyear, AZ 4
    • 3 beds 2 baths ∙ 1,990 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,990 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.81
    •  
  • 260 S 166th Drive Goodyear, AZ 1
    • 3 beds 2 baths ∙ 1,936 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,936 Sqft ∙ Built 2006
    LEASED 12/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.79
    •  
  • 16226 W Lilac Street Goodyear, AZ 2
    • 3 beds 3 baths ∙ 1,862 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,862 Sqft ∙ Built 2001
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.83
    •  
  • 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
    •  
  • 16574 W Grant Street Goodyear, AZ 5
    • 4 beds 2 baths ∙ 2,164 Sqft ∙ Built 2008 4 beds 2 baths ∙ 2,164 Sqft ∙ Built 2008
    LEASED 01/09/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.81
    •  
PROPERTY LISTING DETAILS
Beth M Rider
Keller Williams Arizona Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6198947
Last Updated: 02/27/2021
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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