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17348 N 114th Drive Surprise, AZ 85378

3 Beds 2 Baths 1,578 sqft Built 2017

INVESTimate

$292,000

List Price

$1,360

$1,224 - $1,496

Rent Est.

$315,623  ( +8.09%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 2017
  • Price/Sqft : $185.04
  • 8 Days on Market
  • MLS # : 6119409
  • Updated Date : 08/21/2020 at 18:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,578 sqft
  • Baths : 2 full
Listing Agent

West Usa Realty

Listing Agent's Description

Great starter home like new built in 2017! Single story with 3 bed, 2 bath. Enter to a formal dining room. Open floor plan for the kitchen, dining and family room. The eat-in kitchen has an ample amount of cabinets, island w breakfast bar seating, pantry and black appliances. Inside laundry. Generous sized bedrooms. Owner's suite has a full bath that includes a double vanity, soaking tub, separate shower and walk-i closet. The low-maintenance backyard has synthetic grass and a brick paver extended patio. Located in a gated community. Easy access to shopping, dining and major freeways. Fridge, Washer and Dryer included!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Surprise

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $85k271k

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

Neighborhood: Surprise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001050110011501200125013001350140014501500155016001650Rent in $9791673

* 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
Thompson Ranch Elementary School Primary Regular 979 46 2
Thompson Ranch Elementary School Middle Regular 979 46 2
Valley Vista High School High Regular 2,457 101 4

Thompson Ranch Elementary School

  • Education Level: Primary
  • # of students: 979
  • # of teachers: 46
2
GreatSchools Rating

Thompson Ranch Elementary School

  • Education Level: Middle
  • # of students: 979
  • # of teachers: 46
2
GreatSchools Rating

Valley Vista High School

  • Education Level: High
  • # of students: 2,457
  • # of teachers: 101
4
GreatSchools Rating
 

$262,800$321,200$292,000

PURCHASE PRICE

$1,224$1,496$1,360

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$200k$400k$600k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,360
EXPENSES Loan Payment -$1,077
Property Tax -$175
Property Insurance -$58
HOA -$125
Property Management Fees -$99
CASH FLOW
-$174

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.

$292,000

PROJECTED PRICE

$1,360

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 8.09%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,130

INVESTMENT

$83,130

Down Payment
$73,000
Rehab Estimate
$5,750
Closing Costs
$4,380

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,077

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,000
Loan Amount $219,000
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$6,793

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
  • $1,377

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,3253$1,3994$1,4505$1,450
$1,450
RENT COMPS ANALYSIS
  • 17348 N 114th Drive Surprise, 1
    • 3 beds 2 baths ∙ 1,578 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,578 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 17870 N 114th Lane Surprise, 2
    • 3 beds 3 baths ∙ 1,560 Sqft ∙ Built 2009 3 beds 3 baths ∙ 1,560 Sqft ∙ Built 2009
    property image
    LEASED 10/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.85
    •  
  • 11421 W St John Road Surprise, 3
    • 3 beds 3 baths ∙ 1,560 Sqft ∙ Built 2010 3 beds 3 baths ∙ 1,560 Sqft ∙ Built 2010
    property image
    LEASED 08/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $0.90
    •  
  • 17861 N 114th Lane Surprise, 4
    • 3 beds 3 baths ∙ 1,668 Sqft ∙ Built 2019 3 beds 3 baths ∙ 1,668 Sqft ∙ Built 2019
    property image
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.87
    •  
  • 17885 N 114th Lane Surprise, 5
    • 3 beds 3 baths ∙ 1,668 Sqft ∙ Built 2019 3 beds 3 baths ∙ 1,668 Sqft ∙ Built 2019
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.87
    •  
PROPERTY LISTING DETAILS
Esther Ostrander
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6119409
Last Updated: 08/21/2020
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.

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