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16601 W Polk Street Goodyear, AZ 85338

3 Beds 2 Baths 1,591 sqft Built 2001

$280,000

List Price

$1,420

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 2001
  • Price/Sqft : $175.99
  • 6 Days on Market
  • MLS # : 6153586
  • Updated Date : 10/29/2020 at 17:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,591 sqft
  • Baths : 2 full
Listing Agent

Novus Realty Agency

Listing Agent's Description

Conveniently located in the Canyon Trails subdivision with parks, walking trails, close to shopping, restaurants and schools. Close to the I-10 and 303 loop. Home features a formal living and dining room, spacious kitchen, open family room, full master suite with a master bath and walk-in closet. Enjoy the warm Arizona weather in your private backyard pool.

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 Thunder School Primary Regular 636 26 5
Desert Thunder School Middle Regular 636 26 5
Verrado High School High Regular 1,855 74 4

Desert Thunder School

  • Education Level: Primary
  • # of students: 636
  • # of teachers: 26
5
GreatSchools Rating

Desert Thunder School

  • Education Level: Middle
  • # of students: 636
  • # of teachers: 26
5
GreatSchools Rating

Verrado High School

  • Education Level: High
  • # of students: 1,855
  • # of teachers: 74
4
GreatSchools Rating
 

$252,000$308,000$280,000

PURCHASE PRICE

$1,278$1,562$1,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,420
EXPENSES Loan Payment -$1,033
Property Tax -$187
Property Insurance -$58
HOA -$61
Property Management Fees -$99
CASH FLOW
-$18

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.

$280,000

PROJECTED PRICE

$1,420

PROJECTED RENT

0.51%

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$18,203

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
  • $1,420

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,3503$1,4254$1,4505$1,450
$1,450
RENT COMPS ANALYSIS
  • 16601 W Polk Street Goodyear, AZ 1
    • 3 beds 2 baths ∙ 1,591 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,591 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 16633 W Polk Street Goodyear, AZ 2
    • 3 beds 2 baths ∙ 1,591 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,591 Sqft ∙ Built 2001
    property image
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.85
    •  
  • 610 N 167th Drive Goodyear, AZ 3
    • 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 2002
    property image
    LEASED 03/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.98
    •  
  • 16803 W Fillmore Street Goodyear, AZ 4
    • 3 beds 2 baths ∙ 1,716 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,716 Sqft ∙ Built 2001
    property image
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.84
    •  
  • 16632 W Fillmore Street Goodyear, AZ 5
    • 3 beds 3 baths ∙ 1,612 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,612 Sqft ∙ Built 2004
    property image
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.90
    •  
PROPERTY LISTING DETAILS
Arturo G Galvez
Novus Realty Agency
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6153586
Last Updated: 10/29/2020
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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