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

17203 N Erin Lane Surprise, AZ 85374

2 Beds 2 Baths 1,380 sqft Built 1997

$247,500

List Price

$1,370

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $179.35
  • 2 Days on Market
  • MLS # : 6163641
  • Updated Date : 11/21/2020 at 16:05
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,380 sqft
  • Baths : 1 full , 1 half
Listing Agent

Long Realty West Valley

Listing Agent's Description

REALTORS DO NOT USE SHOWTIME. HOME IS VACANT. THIS IS A CHARMING HIGHLY MODIFIED ORANGEWOOD. HOME HAS ENLARGED FAMILY ROOM AREA, HOME HAS TILE THROUGH OUT, ENLARGED UTILITY WITH CABINETS AND DESK-WORK TABLE, STORAGE CABINETS IN GARAGE, INCLUDES APPLIANCES,WASHER/DRYER, CUSTOM FINISHED CABINETS IN KITCHEN,ISLAND IN KITCHEN,EPOXY COATING ON CEMENT, AUTO WATERING SYSTEM, TWO AC UNITS,UPGRADED CABINETS IN KITCHEN, LARGE COVERED EXPANDED PATIO WITH KNEE WALL SETTING AREA,GARAGE HAS LOTS OF CABINETS, 2 CAR PLUS GOLF CART IN GARAGE, SOFTWATER UNIT,SOLAR POWER ($99 MONTH LEASE,GREAT SMALLER HOME TO SHOW.VACANT

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Arizona Traditions

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $109k284k

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

Neighborhood: Arizona Traditions

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9491791

* 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
 

$222,750$272,250$247,500

PURCHASE PRICE

$1,233$1,507$1,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,370
EXPENSES Loan Payment -$913
Property Tax -$172
Property Insurance -$54
HOA -$160
Property Management Fees -$99
CASH FLOW
-$28

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$247,500

PROJECTED PRICE

$1,370

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 4.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,338

INVESTMENT

$71,338

Down Payment
$61,875
Rehab Estimate
$5,750
Closing Costs
$3,713

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$913

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,875
Loan Amount $185,625
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$13,460

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
  • $1,435

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,2753$1,4004$1,700
$1,700
RENT COMPS ANALYSIS
  • 17203 N Erin Lane Surprise, AZ 1
    • 2 beds 2 baths ∙ 1,380 Sqft ∙ Built 1997 2 beds 2 baths ∙ 1,380 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 18916 N Alameda Drive Surprise, AZ 2
    • 2 beds 2 baths ∙ 1,138 Sqft ∙ Built 2002 2 beds 2 baths ∙ 1,138 Sqft ∙ Built 2002
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $1.12
    •  
  • 18047 W Buena Vista Drive Surprise, AZ 3
    • 2 beds 2 baths ∙ 1,401 Sqft ∙ Built 2004 2 beds 2 baths ∙ 1,401 Sqft ∙ Built 2004
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.00
    •  
  • 17628 W Lotten Drive Surprise, AZ 4
    • 2 beds 2 baths ∙ 1,708 Sqft ∙ Built 2001 2 beds 2 baths ∙ 1,708 Sqft ∙ Built 2001
    LEASED 09/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.00
    •  
PROPERTY LISTING DETAILS
Jack E Towers
Long Realty West Valley
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6163641
Last Updated: 11/21/2020
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