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16821 W Tara Lane Surprise, AZ 85388

4 Beds 2 Baths 2,166 sqft Built 2003

$384,900

List Price

$1,460

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 06, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $177.70
  • 1 Days on Market
  • MLS # : 6168337
  • Updated Date : 12/05/2020 at 22:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,166 sqft
  • Baths : 2 full
Listing Agent

Jc Realty

Listing Agent's Description

Welcome to Surprise Farms! Home FEATURES upgraded wood-like tile flooring & a private oasis! It may be cold outside but you will be warm in your HEATED POOL & SPA! Travertine decking and fire features add to the beauty of the backyard! Inside you find 4 spacious bedrooms, 2 bathrooms, a nook/study area, and a nice open floor plan with the kitchen overlooking the living room. Kitchen has a breakfast bar! Garage features built-in cabinets and epoxy flooring. RV gate. Modern grey color scheme inside! All appliances and main components in great condition. In-floor cleaning system in pool! Great community to walk and bike in. Walk to schools. Community skate park, splash pad, playgrounds, basketball court!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Surprise Farms

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $120k358k

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

Neighborhood: Surprise Farms

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9631981

* 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
 

$346,410$423,390$384,900

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 -$1,420
Property Tax -$268
Property Insurance -$69
HOA -$72
Property Management Fees -$99
CASH FLOW
-$468

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.

$384,900

PROJECTED PRICE

$1,460

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.3%
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-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$107,749

INVESTMENT

$107,749

Down Payment
$96,225
Rehab Estimate
$5,750
Closing Costs
$5,774

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,420

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $96,225
Loan Amount $288,675
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$472

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
  • $0.67

    LIST RENT PER SQFT
  • $1,549

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4603$1,4954$1,6455$1,700
$1,700
RENT COMPS ANALYSIS
  • 16821 W Tara Lane Surprise, AZ 2
    • 4 beds 2 baths ∙ 2,166 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,166 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $0.67
    •  
  • 16562 W Central Street Surprise, AZ 1
    • 4 beds 3 baths ∙ 2,192 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,192 Sqft ∙ Built 2003
    property image
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.64
    •  
  • 16543 W Ironwood Street Surprise, AZ 3
    • 3 beds 3 baths ∙ 1,982 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,982 Sqft ∙ Built 2002
    property image
    LEASED 09/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.75
    •  
  • 16852 W Tasha Drive Surprise, AZ 4
    • 3 beds 3 baths ∙ 2,255 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,255 Sqft ∙ Built 2003
    property image
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.73
    •  
  • 15864 N 172nd Lane Surprise, AZ 5
    • 3 beds 3 baths ∙ 2,285 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,285 Sqft ∙ Built 2004
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.74
    •  
PROPERTY LISTING DETAILS
Katie Hobgood
Jc Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6168337
Last Updated: 12/05/2020
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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