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17217 N 184th Lane Surprise, AZ 85374

5 Beds 3 Baths 2,275 sqft Built 2005

$317,500

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $139.56
  • 2 Days on Market
  • MLS # : 6211278
  • Updated Date : 03/27/2021 at 15:51
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,275 sqft
  • Baths : 3 full
Listing Agent

Homesmart

Listing Agent's Description

Wonderful home in Surprise featuring 5 bedrooms and 3 full baths! Downstairs you will find a bedroom and full bath with luxury plank wood flooring throughout. The kitchen features restored cabinets and a spacious eat in dining with pantry. Kitchen looks into a spacious Family room. Enjoy bamboo hardwood and tile floors upstairs where you will find the Master retreat and 3 more good sized bedrooms. The Master is very large with plenty of natural light. The ensuite features dual sinks and large tub and shower. No more up and down carrying clean/dirty clothes...the laundry room is also located upstairs! Extra long driveway for parking and a cute front porch makes great curb appeal. There is solar on the home that a buyer must qualify for.

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
Willow Canyon High School High Regular 2,084 83 3

Willow Canyon High School

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

$285,750$349,250$317,500

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$1,103
Property Tax -$190
Property Insurance -$72
HOA -$69
Property Management Fees -$99
CASH FLOW
$68

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.

$317,500

PROJECTED PRICE

$1,600

PROJECTED RENT

0.50%

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$89,888

INVESTMENT

$89,888

Down Payment
$79,375
Rehab Estimate
$5,750
Closing Costs
$4,763

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,103

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $79,375
Loan Amount $238,125
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$24,423

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,644

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,6003$1,6254$1,6605$1,850
$1,850
RENT COMPS ANALYSIS
  • 17217 N 184th Lane Surprise, AZ 2
    • 5 beds 3 baths ∙ 2,275 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,275 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.70
    •  
  • 18547 W Sunbelt Drive Surprise, AZ 1
    • 4 beds 3 baths ∙ 2,211 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,211 Sqft ∙ Built 2006
    LEASED 11/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.68
    •  
  • 18538 W Legend Drive Surprise, AZ 3
    • 4 beds 3 baths ∙ 2,211 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,211 Sqft ∙ Built 2007
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.73
    •  
  • 18338 W Stinson Drive Surprise, AZ 4
    • 4 beds 2 baths ∙ 2,232 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,232 Sqft ∙ Built 2005
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.74
    •  
  • 18528 W Douglas Way Surprise, AZ 5
    • 4 beds 3 baths ∙ 2,509 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,509 Sqft ∙ Built 2007
    LEASED 02/16/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.74
    •  
PROPERTY LISTING DETAILS
Denise Warfield
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6211278
Last Updated: 03/27/2021
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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