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17131 E Sonoran Way Fountain Hills, AZ 85268

4 Beds 2 Baths 1,800 sqft Built 1996

$494,900

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $274.94
  • 2 Days on Market
  • MLS # : 6176409
  • Updated Date : 01/09/2021 at 02:22
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,800 sqft
  • Baths : 2 full
Listing Agent

Homesmart Lifestyles

Listing Agent's Description

This home is truly Arizona with vaulted ceilings, a large sparkling heated pool and a private backyard with unobstructed Red Mountain views from inside and out. This single level, NO STEPS home boasts a spacious master bedroom and 3 roomy guest bedrooms, a total kitchen remodel with soft-close cabinets/drawers and quartz countertops/island and remodeled baths with updated vanity/cabinets, quartz countertops and tile. Entertainer's backyard with a firepit gathering space, an outdoor kitchen with built-in gas grill, granite countertops, travertine tile and fridge. Two TVs and all kitchen/laundry appliances convey with the house. 2 car garage with lots of built-in cabinets for storage. You will not want to miss this well cared for desert gem! Listing agent is a relative of the Sellers.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Sunrise Point

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $122k408k

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

Neighborhood: Sunrise Point

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
 

$445,410$544,390$494,900

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$1,719
Property Tax -$248
Property Insurance -$62
HOA -$10
Property Management Fees -$99
CASH FLOW
-$188

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.

$494,900

PROJECTED PRICE

$1,950

PROJECTED RENT

0.39%

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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$136,899

INVESTMENT

$136,899

Down Payment
$123,725
Rehab Estimate
$5,750
Closing Costs
$7,424

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,719

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $123,725
Loan Amount $371,175
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$14,991

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $1,904

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6753$1,9504$2,1005$2,200
$2,200
RENT COMPS ANALYSIS
  • 17131 E Sonoran Way Fountain Hills, AZ 3
    • 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 1996 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.08
    •  
  • 17145 E Rockwood Drive Fountain Hills, AZ 1
    • 3 beds 2 baths ∙ 1,528 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,528 Sqft ∙ Built 1995
    LEASED 08/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.04
    •  
  • 11244 N Saguaro Boulevard #102 Fountain Hills, AZ 2
    • 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 1985
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.93
    •  
  • 17201 E Rockwood Drive Fountain Hills, AZ 4
    • 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 1995
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.22
    •  
  • 16111 E Kingstree Boulevard #2 Fountain Hills, AZ 5
    • 3 beds 2 baths ∙ 2,114 Sqft ∙ Built 1984 3 beds 2 baths ∙ 2,114 Sqft ∙ Built 1984
    LEASED 11/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.04
    •  
PROPERTY LISTING DETAILS
Michael Kropidlowski
Homesmart Lifestyles
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6176409
Last Updated: 01/09/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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