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16474 W Lariat Lane Surprise, AZ 85387

3 Beds 2 Baths 2,087 sqft Built 2017

$355,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $170.10
  • 2 Days on Market
  • MLS # : 6184894
  • Updated Date : 01/23/2021 at 07:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,087 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

Very popular floorplan, the Seneca is a true split floorplan. Master bedroom in the back, 2nd & 3rd bedrooms on opposite side of house. Home is like new, used only part time. Rich Warm colors abound, dark staggered cabinets w/ pull outs. Stainless Steel appliances w/ gas stove. Granite counter tops & Big island w/stainless deep double sink, upgraded fixtures. Breakfast bar, breakfast area for table, open Great room. SGD to L shaped covered patio. Back yard professionally landscaped. Enjoyable and easy care. Generous Master bedroom. Master bath has double square sinks & granite counter top. Oversized separate shower & garden tub. Private toilet room & large walk in closet. Nice sized 2nd & 3rd bedrooms on front on home. Full bath and long vanity for 2nd bath. Tub/shower

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Desert Oasis

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $107k271k

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

Neighborhood: Desert Oasis

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100010501100115012001250130013501400145015001550Rent in $9721567

* 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
Kingswood Elementary School Primary Regular 674 36 4
Kingswood Elementary School Middle Regular 674 36 4
Willow Canyon High School High Regular 2,084 83 3

Kingswood Elementary School

  • Education Level: Primary
  • # of students: 674
  • # of teachers: 36
4
GreatSchools Rating

Kingswood Elementary School

  • Education Level: Middle
  • # of students: 674
  • # of teachers: 36
4
GreatSchools Rating

Willow Canyon High School

  • Education Level: High
  • # of students: 2,084
  • # of teachers: 83
3
GreatSchools Rating
 

$319,500$390,500$355,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$1,233
Property Tax -$212
Property Insurance -$68
HOA -$66
Property Management Fees -$99
CASH FLOW
-$38

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.

$355,000

PROJECTED PRICE

$1,640

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 10.8%
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$1.2M$1.4M

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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$99,825

INVESTMENT

$99,825

Down Payment
$88,750
Rehab Estimate
$5,750
Closing Costs
$5,325

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,233

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $88,750
Loan Amount $266,250
See What Happens When You Reinvest Cash Flow

4.92

YEARS SAVED

$17,739

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
  • $1,774

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,5503$1,7954$1,950
$1,950
RENT COMPS ANALYSIS
  • 16474 W Lariat Lane Surprise, AZ 1
    • 3 beds 2 baths ∙ 2,087 Sqft ∙ Built 2017 3 beds 2 baths ∙ 2,087 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 16474 W Remuda Drive Surprise, AZ 2
    • 3 beds 3 baths ∙ 2,240 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,240 Sqft ∙ Built 2006
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.69
    •  
  • 17248 W Molly Lane Surprise, AZ 3
    • 4 beds 3 baths ∙ 1,994 Sqft ∙ Built 2020 4 beds 3 baths ∙ 1,994 Sqft ∙ Built 2020
    LEASED 12/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.90
    •  
  • 17502 W Buckhorn Trail Surprise, AZ 4
    • 3 beds 2 baths ∙ 2,032 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,032 Sqft ∙ Built 2016
    LEASED 12/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.96
    •  
PROPERTY LISTING DETAILS
Robin Whipple
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6184894
Last Updated: 01/23/2021
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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