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16870 E Sterling Way Fountain Hills, AZ 85268

2 Beds 2 Baths 1,051 sqft Built 1985

$349,900

List Price

$1,180

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $332.92
  • 2 Days on Market
  • MLS # : 6209612
  • Updated Date : 03/21/2021 at 01:34
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,051 sqft
  • Baths : 2 full
Listing Agent

Re/max Sun Properties

Listing Agent's Description

Cute furnished patio home with huge lot in Courtside Villas. Saltillo tile and laminate flooring throughout. Plantation shutters, all on one level, no carpet and no stairs. Two car Garage. Corner lot with RV gate and parking. Lots of potential with this lot. Low HOA. Refrigerator, Master bed set and some personal items do not convey.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Courtside Villas

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $119k408k

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

Neighborhood: Courtside Villas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8822077

* 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 High School High Regular 617 31 7
Four Peaks Elementary School Primary Unknown NA

Four Peaks Elementary School

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

Fountain Hills High School

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

Four Peaks Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$314,910$384,890$349,900

PURCHASE PRICE

$1,062$1,298$1,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,180
EXPENSES Loan Payment -$1,215
Property Tax -$175
Property Insurance -$48
HOA -$11
Property Management Fees -$99
CASH FLOW
-$368

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.

$349,900

PROJECTED PRICE

$1,180

PROJECTED RENT

0.34%

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$900k

PROJECTED ANNUAL CASH FLOW

11530-$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$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,215

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,044

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
  • $1,172

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,0253$1,2004$1,2755$1,400
$1,400
RENT COMPS ANALYSIS
  • 16870 E Sterling Way Fountain Hills, AZ 1
    • 2 beds 2 baths ∙ 1,051 Sqft ∙ Built 1985 2 beds 2 baths ∙ 1,051 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 14264 N Oakwood Lane Fountain Hills, AZ 2
    • 2 beds 2 baths ∙ 967 Sqft ∙ Built 1973 2 beds 2 baths ∙ 967 Sqft ∙ Built 1973
    LEASED 12/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,025
    • $1.06
    •  
  • 14849 N Kings Way #114 Fountain Hills, AZ 3
    • 2 beds 2 baths ∙ 1,004 Sqft ∙ Built 1982 2 beds 2 baths ∙ 1,004 Sqft ∙ Built 1982
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.20
    •  
  • 16710 E Ashbrook Drive #a Fountain Hills, AZ 4
    • 2 beds 2 baths ∙ 1,200 Sqft ∙ Built 1988 2 beds 2 baths ∙ 1,200 Sqft ∙ Built 1988
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $1.06
    •  
  • 16727 E Bayfield Rd B Street #b Fountain Hills, AZ 5
    • 2 beds 2 baths ∙ 1,226 Sqft ∙ Built 1987 2 beds 2 baths ∙ 1,226 Sqft ∙ Built 1987
    LEASED 08/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.14
    •  
PROPERTY LISTING DETAILS
Tina M. Nabers
Re/max Sun Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6209612
Last Updated: 03/21/2021
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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