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16528 W Ironwood Street Surprise, AZ 85374

3 Beds 2 Baths 1,522 sqft Built 2002

INVESTimate

$265,000

List Price

$1,290

$1,161 - $1,419

Rent Est.

$284,981  ( +7.54%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $174.11
  • 3 Days on Market
  • MLS # : 6122038
  • Updated Date : 08/24/2020 at 18:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,522 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

Come take a look at this Beautiful Move-In Ready Home! Vaulted Ceilings make this home feel very open. NEW Quartz counter tops throughout. New Stainless- Steel farm sink, Microwave, Dishwasher & Smooth-top Oven/Range. NEW Vinyl-Wood Plank Flooring & NEW Carpet in all bedrooms. NEW Interior Paint & Baseboards. NEW Exterior Paint including Fascia, Eaves, & Trim, Garage Door & Front Door, NEW landscaping-Green Grass backyard, new bushes, trees & plants and planter beds with NEW Timer System. Newly glazed Master Bathroom Shower and Bathtub. Garage Floor has New Epoxy Flooring & Freshly painted walls. Beautiful NEW oil-rubbed hinges & hardware. NEW 2-inch faux wood blinds. Home has Home Warranty currently in place that will transfer to new home owners through Old Republic Home Warranty.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Northwest Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: Northwest Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8621567

* 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
Cimarron Springs Elementary School Primary Regular 950 45 7
Cimarron Springs Elementary School Middle Regular 950 45 7
Willow Canyon High School High Regular 2,084 83 3

Cimarron Springs Elementary School

  • Education Level: Primary
  • # of students: 950
  • # of teachers: 45
7
GreatSchools Rating

Cimarron Springs Elementary School

  • Education Level: Middle
  • # of students: 950
  • # of teachers: 45
7
GreatSchools Rating

Willow Canyon High School

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

$238,500$291,500$265,000

PURCHASE PRICE

$1,161$1,419$1,290

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

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

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 $1,290
EXPENSES Loan Payment -$978
Property Tax -$184
Property Insurance -$57
HOA -$59
Property Management Fees -$99
CASH FLOW
-$87

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.

$265,000

PROJECTED PRICE

$1,290

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 7.54%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$978

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$10,743

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,290

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,313

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,249
1$1,2492$1,2903$1,3504$1,4005$1,495
$1,495
RENT COMPS ANALYSIS
  • 16528 W Ironwood Street Surprise, 2
    • 3 beds 2 baths ∙ 1,522 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,522 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,290
    • $0.85
    •  
  • 16620 W Ironwood Street Surprise, 1
    • 3 beds 2 baths ∙ 1,522 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,522 Sqft ∙ Built 2002
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,249
    • $0.82
    •  
  • 16814 W Carmen Drive Surprise, 3
    • 3 beds 2 baths ∙ 1,631 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,631 Sqft ∙ Built 2004
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.83
    •  
  • 16538 W Central Street Surprise, 4
    • 4 beds 3 baths ∙ 1,558 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,558 Sqft ∙ Built 2004
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.90
    •  
  • 16609 W Monte Cristo Avenue Surprise, 5
    • 3 beds 2 baths ∙ 1,667 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,667 Sqft ∙ Built 2004
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.90
    •  
PROPERTY LISTING DETAILS
April L Keys
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6122038
Last Updated: 08/24/2020
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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