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17241 W Caribbean Lane Surprise, AZ 85388

4 Beds 3 Baths 2,291 sqft Built 2004

$345,200

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $150.68
  • 3 Days on Market
  • MLS # : 6184521
  • Updated Date : 01/22/2021 at 18:57
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,291 sqft
  • Baths : 3 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

Come enjoy this fabulous 2 story 4 bedroom, 3 bathroom home in Surprise, Arizona. The over-sized kitchen has a large island, a spacious pantry, dark countertops, and looks into the sunny living room. Upstairs is a large loft, that allows the owner to use this space in whatever capacity best meets their needs. The connecting bathroom in the roomy primary bedroom has an over-sized walk-in closet, double sinks, shower, and a relaxing corner tub. The sun-drenched backyard has a covered patio, and the pool has a bridge and a built-in firepit. This plush abode is less than 8 minutes away from Sun Valley trailhead, a 12-minute drive to the Wild Life World Zoo, and has 6 golf courses within a 10-mile radius.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Sierra Montana

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $112k358k

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

Neighborhood: Sierra Montana

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9311981

* 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
Sunset Hills Elementary School Primary Regular 1,214 55 6
Sunset Hills Elementary School Middle Regular 1,214 55 6
Shadow Ridge High School High Regular 1,735 77 4

Sunset Hills Elementary School

  • Education Level: Primary
  • # of students: 1,214
  • # of teachers: 55
6
GreatSchools Rating

Sunset Hills Elementary School

  • Education Level: Middle
  • # of students: 1,214
  • # of teachers: 55
6
GreatSchools Rating

Shadow Ridge High School

  • Education Level: High
  • # of students: 1,735
  • # of teachers: 77
4
GreatSchools Rating
 

$310,680$379,720$345,200

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$1,199
Property Tax -$240
Property Insurance -$72
HOA -$20
Property Management Fees -$99
CASH FLOW
$30

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.

$345,200

PROJECTED PRICE

$1,660

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.9%
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-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$97,228

INVESTMENT

$97,228

Down Payment
$86,300
Rehab Estimate
$5,750
Closing Costs
$5,178

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $86,300
Loan Amount $258,900
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$21,370

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,753

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6603$1,7004$1,7955$1,825
$1,825
RENT COMPS ANALYSIS
  • 17241 W Caribbean Lane Surprise, AZ 2
    • 4 beds 3 baths ∙ 2,291 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,291 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.72
    •  
  • 17313 W Saguaro Lane Surprise, AZ 1
    • 3 beds 2 baths ∙ 2,147 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,147 Sqft ∙ Built 2005
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.72
    •  
  • 17440 W Caribbean Lane Surprise, AZ 3
    • 4 beds 3 baths ∙ 2,159 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,159 Sqft ∙ Built 2004
    property image
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.79
    •  
  • 17423 W Saguaro Lane Surprise, AZ 4
    • 4 beds 3 baths ∙ 2,403 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,403 Sqft ∙ Built 2005
    property image
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.75
    •  
  • 15143 N 172nd Drive Surprise, AZ 5
    • 5 beds 3 baths ∙ 2,291 Sqft ∙ Built 2003 5 beds 3 baths ∙ 2,291 Sqft ∙ Built 2003
    property image
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.80
    •  
PROPERTY LISTING DETAILS
George Laughton
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6184521
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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