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17271 N 185th Drive Surprise, AZ 85374

4 Beds 3 Baths 2,211 sqft Built 2006

$290,000

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $131.16
  • 2 Days on Market
  • MLS # : 6185009
  • Updated Date : 01/24/2021 at 01:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,211 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group

Listing Agent's Description

FANTASTIC 4/2.5 IN SURPRISE. GREAT KITCHEN WITH 42 IN CABINETS , BUILT IN WINE RACK, CORIAN COUNTER TOPS AND NEWER APPLIANCES THAT ALL STAY! GOOD SIZE BEDROOMS PLUS LARGE LOFT. LAUNDRY ROOM UPSTAIRS AND WASHER AND DRYER STAY! NEWER WOOD FLOORS UPSTAIRS THAT ARE EASY TO CLEAN WITH CENTRAL VACCUUM SYSTEM! LEASED SOLAR SYSTEM THAT COVERS MOST IF NOT ALL OF THEIR ELECTRIC BILL. GOOD SIZE BACK YARD WITH COVERED PATIO AND ADDITIONAL CONCRETE PATIO.

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
 

$261,000$319,000$290,000

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$1,007
Property Tax -$174
Property Insurance -$70
HOA -$69
Property Management Fees -$99
CASH FLOW
$161

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.

$290,000

PROJECTED PRICE

$1,580

PROJECTED RENT

0.54%

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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

8.33

YEARS SAVED

$31,944

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,642

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5803$1,6254$1,6605$1,695
$1,695
RENT COMPS ANALYSIS
  • 17271 N 185th Drive Surprise, AZ 2
    • 4 beds 3 baths ∙ 2,211 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,211 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.71
    •  
  • 18394 W Dawn Drive Surprise, AZ 1
    • 3 beds 3 baths ∙ 2,075 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,075 Sqft ∙ Built 2005
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.75
    •  
  • 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
    •  
  • 18448 W Surprise Farms Loop N Surprise, AZ 5
    • 4 beds 3 baths ∙ 2,249 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,249 Sqft ∙ Built 2009
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.75
    •  
PROPERTY LISTING DETAILS
Keith Bro
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6185009
Last Updated: 01/24/2021
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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