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16800 E El Lago Boulevard #2006 Fountain Hills, AZ 85268

2 Beds 2 Baths 1,348 sqft Built 2006

$339,900

List Price

$1,460

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $252.15
  • 2 Days on Market
  • MLS # : 6168022
  • Updated Date : 12/04/2020 at 18:56
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,348 sqft
  • Baths : 2 full
Listing Agent

Re/max Sun Properties

Listing Agent's Description

The magic of the southwest sparkles in this highly upgraded, creatively remodeled home. If you're searching for true Arizona style, here it is! Colorful Talavera tile adorns the stair risers hinting at what will be found inside. A saguaro cactus basking in a setting sun adorns the security door and welcomes you to a ''wow!'' interior with dark wood and tile floors, custom paint, tile accents and a stacked slate stone fireplace with a thick wood mantel. Gorgeous, hand-crafted custom copper metal-faced drawers are built-in to the great room's art display wall offering deep storage. High-grade slab granite adorns kitchen counters, the long master bath dual-sink counter and the guest bathroom. Luxury finishes rival any upgraded single-family home you'll find above $500,000, but this condo

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Village at Towne Center Condominiums

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $122k408k

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

Neighborhood: Village at Towne Center Condominiums

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10242077

* 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
Four Peaks Elementary School Primary Regular 243 9 6
Fountain Hills Middle School Middle Regular 372 22 7
Fountain Hills High School High Regular 617 31 7

Four Peaks Elementary School

  • Education Level: Primary
  • # of students: 243
  • # of teachers: 9
6
GreatSchools Rating

Fountain Hills Middle School

  • Education Level: Middle
  • # of students: 372
  • # of teachers: 22
7
GreatSchools Rating

Fountain Hills High School

  • Education Level: High
  • # of students: 617
  • # of teachers: 31
7
GreatSchools Rating
 

$305,910$373,890$339,900

PURCHASE PRICE

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$1,254
Property Tax -$170
Property Insurance -$53
HOA -$275
Property Management Fees -$99
CASH FLOW
-$392

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.

$339,900

PROJECTED PRICE

$1,460

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

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

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$95,824

INVESTMENT

$95,824

Down Payment
$84,975
Rehab Estimate
$5,750
Closing Costs
$5,099

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $84,975
Loan Amount $254,925
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$450

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $1,510

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$1,325
1$1,3252$1,4003$1,4254$1,4605$1,700
$1,700
RENT COMPS ANALYSIS
  • 16800 E El Lago Boulevard #2006 Fountain Hills, AZ 4
    • 2 beds 2 baths ∙ 1,348 Sqft ∙ Built 2006 2 beds 2 baths ∙ 1,348 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $1.08
    •  
  • 11832 N Saguaro Boulevard #104 Fountain Hills, AZ 1
    • 2 beds 2 baths ∙ 1,200 Sqft ∙ Built 1986 2 beds 2 baths ∙ 1,200 Sqft ∙ Built 1986
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $1.10
    •  
  • 16626 E Westby Drive #207 Fountain Hills, AZ 2
    • 2 beds 2 baths ∙ 1,328 Sqft ∙ Built 2000 2 beds 2 baths ∙ 1,328 Sqft ∙ Built 2000
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.05
    •  
  • 12050 N Panorama Drive #105 Fountain Hills, AZ 3
    • 2 beds 2 baths ∙ 1,204 Sqft ∙ Built 2005 2 beds 2 baths ∙ 1,204 Sqft ∙ Built 2005
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $1.18
    •  
  • 16517 E Gunsight Drive #8 Fountain Hills, AZ 5
    • 2 beds 3 baths ∙ 1,476 Sqft ∙ Built 1986 2 beds 3 baths ∙ 1,476 Sqft ∙ Built 1986
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.15
    •  
PROPERTY LISTING DETAILS
Peggy Moran
Re/max Sun Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6168022
Last Updated: 12/04/2020
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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