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16841 W Marconi Avenue Surprise, AZ 85388

3 Beds 2 Baths 2,166 sqft Built 2003

$399,900

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $184.63
  • 4 Days on Market
  • MLS # : 6202508
  • Updated Date : 03/05/2021 at 23:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,166 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Elite

Listing Agent's Description

Look no more! This wonderful single level Surprise home located in the beautiful Surprise Farms community, with a charming front porch is waiting just for you! This wonderful split floorpan, 3 bedroom and Den can easily be converted into 4th bedroom with a simple framing of door and closet. Home is well cared for with newer high efficiency AC unit, water heater, paint and flooring. Step inside this beauty to find a welcoming interior providing a living & dining area with a gorgeous chandelier, neutral color palette and 9, archways throughout, vaulted ceilings, and a perfectly sized den, great for a home office. Continue into the immaculate eat-in kitchen complete with recessed lighting, a pantry, granite counter-tops & back-splash, a breakfast bar, and SS appliances and gas stove.

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
Willow Canyon High School High Regular 2,084 83 3

Willow Canyon High School

  • Education Level: High
  • # of students: 2,084
  • # of teachers: 83
3
GreatSchools Rating
 

$359,910$439,890$399,900

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$1,389
Property Tax -$278
Property Insurance -$69
HOA -$44
Property Management Fees -$99
CASH FLOW
-$389

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.

$399,900

PROJECTED PRICE

$1,490

PROJECTED RENT

0.37%

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$8.0k

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$111,724

INVESTMENT

$111,724

Down Payment
$99,975
Rehab Estimate
$5,750
Closing Costs
$5,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,975
Loan Amount $299,925
See What Happens When You Reinvest Cash Flow

0.83

YEARS SAVED

$1,365

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $1,625

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,490
1$1,4902$1,4953$1,6454$1,7005$1,750
$1,750
RENT COMPS ANALYSIS
  • 16841 W Marconi Avenue Surprise, AZ 1
    • 3 beds 2 baths ∙ 2,166 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,166 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.69
    •  
  • 16543 W Ironwood Street Surprise, AZ 2
    • 3 beds 3 baths ∙ 1,982 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,982 Sqft ∙ Built 2002
    LEASED 09/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.75
    •  
  • 16852 W Tasha Drive Surprise, AZ 3
    • 3 beds 3 baths ∙ 2,255 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,255 Sqft ∙ Built 2003
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.73
    •  
  • 15864 N 172nd Lane Surprise, AZ 4
    • 3 beds 3 baths ∙ 2,285 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,285 Sqft ∙ Built 2004
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.74
    •  
  • 16640 W Rimrock Street Surprise, AZ 5
    • 4 beds 3 baths ∙ 2,232 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,232 Sqft ∙ Built 2003
    LEASED 12/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.78
    •  
PROPERTY LISTING DETAILS
Shannon Cunningham
Keller Williams Elite
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6202508
Last Updated: 03/05/2021
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.

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