Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

16871 N 183rd Drive Surprise, AZ 85388

3 Beds 2 Baths 1,719 sqft Built 2013

$299,900

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $174.46
  • 3 Days on Market
  • MLS # : 6172864
  • Updated Date : 12/18/2020 at 16:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,719 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Elite

Listing Agent's Description

STUNNING home situated on a corner, cul-de-sace lot in Surprise Farms! Spacious great room floor plan w/a custom modern palette, handsome wood ''look'' floors throughout ENTIRE home, ceiling fans, & plantation shutters/blinds. Granite kitchen counters, Stainless steel appliances, breakfast bar, large pantry, great bay window in dining area, & plenty of wood cabinetry. This pristine home boasts generous size bedrooms, ample closets, 2 baths, & interior laundry room. The backyard offers a LARGE patio and extra paver area for entertaining, & petty of room for a pool. Extended garage with epoxy floors provide plenty of room for vehicles and extra toys! Community Playground & Paths. Don't miss this one!!

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
Western Peaks Elementary School Primary Regular 1,093 50 5
Western Peaks Elementary School Middle Regular 1,093 50 5
Willow Canyon High School High Regular 2,084 83 3

Western Peaks Elementary School

  • Education Level: Primary
  • # of students: 1,093
  • # of teachers: 50
5
GreatSchools Rating

Western Peaks Elementary School

  • Education Level: Middle
  • # of students: 1,093
  • # of teachers: 50
5
GreatSchools Rating

Willow Canyon High School

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

$269,910$329,890$299,900

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$1,107
Property Tax -$209
Property Insurance -$61
HOA -$65
Property Management Fees -$99
CASH FLOW
-$20

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.

$299,900

PROJECTED PRICE

$1,520

PROJECTED RENT

0.51%

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$17,826

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,384

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,349
1$1,3492$1,3953$1,4754$1,5005$1,520
$1,520
RENT COMPS ANALYSIS
  • 16871 N 183rd Drive Surprise, AZ 5
    • 3 beds 2 baths ∙ 1,719 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,719 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.88
    •  
  • 18554 W Udall Drive Surprise, AZ 1
    • 3 beds 3 baths ∙ 1,692 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,692 Sqft ∙ Built 2007
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,349
    • $0.80
    •  
  • 17279 N 184th Drive Surprise, AZ 2
    • 3 beds 2 baths ∙ 1,692 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,692 Sqft ∙ Built 2005
    LEASED 05/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.82
    •  
  • 17753 W Post Drive Surprise, AZ 3
    • 4 beds 3 baths ∙ 1,818 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,818 Sqft ∙ Built 2005
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.81
    •  
  • 18539 W Sunbelt Drive Surprise, AZ 4
    • 3 beds 3 baths ∙ 1,898 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,898 Sqft ∙ Built 2006
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.79
    •  
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 #: 6172864
Last Updated: 12/18/2020
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.

BESbswy