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16510 W Jenan Drive Surprise, AZ 85388

3 Beds 3 Baths 2,270 sqft Built 2020

INVESTimate

$272,990

List Price

$1,710

$1,539 - $1,881

Rent Est.

$289,533  ( +6.06%)   1 YR EST. FORECAST

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
Built 2020 NEW CONSTRUCTION
August 26, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $120.26
  • 1 Days on Market
  • MLS # : 6122679
  • Updated Date : 08/26/2020 at 00:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,270 sqft
  • Baths : 2 full , 1 half
Listing Agent

Kb Home Sales

Listing Agent's Description

This lovely two-story home features an 8-ft. entry door and SmartKey(r) front door hardware. The open concept floor plan includes a spacious great room with a sliding door that leads to a covered back patio. The kitchen features Espresso stained cabinets, a center island, laminate countertops and Stainless steel Whirlpool(r) appliances. You'll also find a private den, and a powder bath. Moving upstairs, a spacious loft is perfect for entertaining or space for a playroom or home theater. The master suite offers a walk-in closet, and the luxurious master bath boasts a spacious shower, a dual-sink vanity, and a door at the water closet. Additional features include Emser(r) tile flooring in all common areas and Shaw(r) carpeting in the bedrooms, Sherwin-Williams(r) paint, Moen(r) WaterSense(r) kitchen

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PRICE & RENT TRENDS

Neighborhood: Retreat at Sycamore Farms

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $120k358k

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

Neighborhood: Retreat at Sycamore Farms

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9081981

* 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
Sonoran Heights Elementary School Primary Regular 961 42 7
Sonoran Heights Elementary School Middle Regular 961 42 7
Shadow Ridge High School High Regular 1,735 77 4

Sonoran Heights Elementary School

  • Education Level: Primary
  • # of students: 961
  • # of teachers: 42
7
GreatSchools Rating

Sonoran Heights Elementary School

  • Education Level: Middle
  • # of students: 961
  • # of teachers: 42
7
GreatSchools Rating

Shadow Ridge High School

  • Education Level: High
  • # of students: 1,735
  • # of teachers: 77
4
GreatSchools Rating
 

$245,691$300,289$272,990

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$1,007
Property Tax -$190
Property Insurance -$71
HOA -$84
Property Management Fees -$99
CASH FLOW
$259

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$272,990

PROJECTED PRICE

$1,710

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.06%
Maintenance Year (1-5) 3.00%
Vacancy 6.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,342

INVESTMENT

$74,342

Down Payment
$68,248
Rehab Estimate
$2,000
Closing Costs
$4,095

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,248
Loan Amount $204,743
See What Happens When You Reinvest Cash Flow

10.5

YEARS SAVED

$51,569

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
  • $1,737

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,4493$1,6004$1,8505$1,950
$1,950
RENT COMPS ANALYSIS
  • 16510 W Jenan Drive Surprise, 1
    • 3 beds 3 baths ∙ 2,270 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,270 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 16174 W Hope Drive Surprise, 2
    • 4 beds 2 baths ∙ 2,065 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,065 Sqft ∙ Built 2005
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,449
    • $0.70
    •  
  • 15836 W Sierra Street Surprise, 3
    • 3 beds 3 baths ∙ 2,071 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,071 Sqft ∙ Built 2008
    LEASED 07/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.77
    •  
  • 16015 W Christy Drive Surprise, 4
    • 3 beds 2 baths ∙ 2,257 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,257 Sqft ∙ Built 2005
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.82
    •  
  • 15991 W Cortez Street Surprise, 5
    • 4 beds 3 baths ∙ 2,543 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,543 Sqft ∙ Built 2016
    LEASED 08/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.77
    •  
PROPERTY LISTING DETAILS
Kristine Smith
Kb Home Sales
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6122679
Last Updated: 08/26/2020
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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