Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

16588 W Sherman Street Goodyear, AZ 85338

5 Beds 4 Baths 3,261 sqft Built 2006

$489,900

List Price

$2,040

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $150.23
  • 3 Days on Market
  • MLS # : 6209702
  • Updated Date : 03/20/2021 at 04:31
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,261 sqft
  • Baths : 3 full , 1 half
Listing Agent

Homesmart

Listing Agent's Description

BEAUTIFUL home, GREAT location! Popular 5 bedroom/3.5 bath/Big loft floorplan that rarely comes up for sale. Many upgrades in this home. Large open kitchen features granite counters, gas stove top, double oven, upgraded cabinets, pantry, island, & built-in seating. Beautiful tile and wood floors downstairs. Family room has a cozy fireplace w/media niches. Front room can be a formal dining or living room. Downstairs Master suite w/large closet, separate tub/shower, double sinks. 4 bdrms & BIG loft upstairs. Ceiling fans & 2'' blinds throughout. Refreshing POOL and BIG backyard travertine patio just added in 2019 (approx. $45K-50K cost today). Open feeling backyard with no neighbors on West side - next to greenbelt. Upgraded stair rails, 3 car garage, soft water system. COME SEE NOW!!

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
 

$440,910$538,890$489,900

PURCHASE PRICE

$1,836$2,244$2,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,040
EXPENSES Loan Payment -$1,702
Property Tax -$327
Property Insurance -$91
HOA -$29
Property Management Fees -$99
CASH FLOW
-$207

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.

$489,900

PROJECTED PRICE

$2,040

PROJECTED RENT

0.42%

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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$135,574

INVESTMENT

$135,574

Down Payment
$122,475
Rehab Estimate
$5,750
Closing Costs
$7,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,702

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $122,475
Loan Amount $367,425
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$13,653

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,040

    LIST RENT
  • $0.63

    LIST RENT PER SQFT
  • $2,304

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,0403$2,0434$2,200
$2,200
RENT COMPS ANALYSIS
  • 16588 W Sherman Street Goodyear, AZ 2
    • 5 beds 4 baths ∙ 3,261 Sqft ∙ Built 2006 5 beds 4 baths ∙ 3,261 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,040
    • $0.63
    •  
  • 742 N 166th Lane Goodyear, AZ 1
    • 4 beds 3 baths ∙ 2,984 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,984 Sqft ∙ Built 2001
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.67
    •  
  • 16759 W Mesquite Drive Goodyear, AZ 3
    • 4 beds 3 baths ∙ 2,929 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,929 Sqft ∙ Built 2006
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,043
    • $0.70
    •  
  • 16412 W Mckinley Street Goodyear, AZ 4
    • 4 beds 3 baths ∙ 2,927 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,927 Sqft ∙ Built 2003
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.75
    •  
PROPERTY LISTING DETAILS
David Haase
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6209702
Last Updated: 03/20/2021
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.

BESbswy