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16820 E La Montana Drive #101 Fountain Hills, AZ 85268

4 Beds 3 Baths 2,219 sqft Built 2006

$400,000

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $180.26
  • 5 Days on Market
  • MLS # : 6151959
  • Updated Date : 10/30/2020 at 02:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,219 sqft
  • Baths : 2 full , 1 half
Listing Agent

R.o.i. Properties

Listing Agent's Description

Nicely upgraded, newer construction- 4 bedroom, end Unit townhome with 2 car garage! New flooring , freshly painted throughout! Large master is on ground floor -with upgraded master bath. Nicely upgraded kitchen/ great room area . Kitchen includes beautiful cabinets,slab granite and 18'' tile and all appliances.Fireplace in great room. Soaring 20 inch ceilings make the townhome light and bright!Patio off great room faces lush green.3 nice size bedrooms upstairs. Walking distance to shopping, restaurants, walking paths and the famous Fountain Hills fountain! Community pool , spa and Ramada.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Villas of la Montana Townhomes Condominiums

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $122k420k

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

Neighborhood: Villas of la Montana Townhomes Condominiums

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10452077

* 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
 

$360,000$440,000$400,000

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,476
Property Tax -$201
Property Insurance -$70
HOA -$290
Property Management Fees -$99
CASH FLOW
-$226

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.

$400,000

PROJECTED PRICE

$1,910

PROJECTED RENT

0.48%

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$7,740

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,897

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,9003$1,9004$1,9005$1,910
$1,910
RENT COMPS ANALYSIS
  • 16820 E La Montana Drive #101 Fountain Hills, AZ 5
    • 4 beds 3 baths ∙ 2,219 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,219 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.86
    •  
  • 16820 E La Montana Drive #109 Fountain Hills, AZ 1
    • 4 beds 3 baths ∙ 2,219 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,219 Sqft ∙ Built 2006
    property image
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.81
    •  
  • 16820 E La Montana Drive #116 Fountain Hills, AZ 2
    • 4 beds 2 baths ∙ 2,219 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,219 Sqft ∙ Built 2006
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.86
    •  
  • 16820 E La Montana Drive #112 Fountain Hills, AZ 3
    • 4 beds 3 baths ∙ 2,219 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,219 Sqft ∙ Built 2006
    property image
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.86
    •  
  • 13450 N Mountainside Drive #a Fountain Hills, AZ 4
    • 3 beds 3 baths ∙ 2,125 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,125 Sqft ∙ Built 2001
    property image
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.89
    •  
PROPERTY LISTING DETAILS
Janice K Delong
R.o.i. Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6151959
Last Updated: 10/30/2020
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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