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17044 E Armour Circle Fountain Hills, AZ 85268

4 Beds 3 Baths 3,088 sqft Built 1974

$795,000

List Price

$2,480

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $257.45
  • 4 Days on Market
  • MLS # : 6181871
  • Updated Date : 01/22/2021 at 16:33
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,088 sqft
  • Baths : 3 full
Listing Agent

Realty One Group

Listing Agent's Description

Located within the heart of one of Fountain Hills most desirable locations, this secluded property offers more than just large rooms and great entertaining space. Over the past 5 years this home has received some serious upgrades: New roof, AC, electrical panel, bathrooms, kitchen, windows, Arizona room, pool resurface and so much more... Within walking distance of Desert Canyon Golf Club. If you've been looking for a great home in a fantastic location, you've just found home.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Fountain Hills

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $122k408k

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

Neighborhood: Fountain Hills

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
 

$715,500$874,500$795,000

PURCHASE PRICE

$2,232$2,728$2,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,480
EXPENSES Loan Payment -$2,761
Property Tax -$399
Property Insurance -$87
Property Management Fees -$99
CASH FLOW
-$866

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.

$795,000

PROJECTED PRICE

$2,480

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.2%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$216,425

INVESTMENT

$216,425

Down Payment
$198,750
Rehab Estimate
$5,750
Closing Costs
$11,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,761

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $198,750
Loan Amount $596,250
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$1,527

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,480

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,728

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,480
1$2,4802$2,4993$2,7004$3,200
$3,200
RENT COMPS ANALYSIS
  • 17044 E Armour Circle Fountain Hills, AZ 1
    • 4 beds 3 baths ∙ 3,088 Sqft ∙ Built 1974 4 beds 3 baths ∙ 3,088 Sqft ∙ Built 1974
    • Rent
    • Rent Per SQFT
    •  
    • $2,480
    • $0.80
    •  
  • 17031 E Lema Circle Fountain Hills, AZ 2
    • 4 beds 3 baths ∙ 3,200 Sqft ∙ Built 1985 4 beds 3 baths ∙ 3,200 Sqft ∙ Built 1985
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,499
    • $0.78
    •  
  • 16129 E Trevino Drive Fountain Hills, AZ 3
    • 4 beds 3 baths ∙ 3,042 Sqft ∙ Built 1987 4 beds 3 baths ∙ 3,042 Sqft ∙ Built 1987
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.89
    •  
  • 16755 E Nicklaus Drive Fountain Hills, AZ 4
    • 4 beds 4 baths ∙ 3,275 Sqft ∙ Built 1974 4 beds 4 baths ∙ 3,275 Sqft ∙ Built 1974
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.98
    •  
PROPERTY LISTING DETAILS
Courtney Lipson
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6181871
Last Updated: 01/22/2021
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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