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17414 N Elko Drive Surprise, AZ 85374

3 Beds 2 Baths 1,670 sqft Built 1997

$325,000

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $194.61
  • 2 Days on Market
  • MLS # : 6193978
  • Updated Date : 02/13/2021 at 03:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,670 sqft
  • Baths : 2 full
Listing Agent

Realty One Group

Listing Agent's Description

THIS IS THE PERFECT SETTING FOR THE MOMENTS THAT LAST A LIFETIME. A contemporary single-story home with colorful southwest accents, set amidst flowering shrubs, palms, a saguaro and even a lemon tree. With its high ceilings, flowing floor plan, 2-car garage with built-in cabinets, every day here is like a vacation. Formal and intimate living and dining areas, ceiling fans, easy-care tile and laminate flooring, granite counters and shiny black appliances are just some of the upgrades. Just about every known convenience is here, inside & out. Outside, the fenced back yard has an extended, covered patio with pavers and a gorgeous play pool. Newer exterior paint, garage door and opener, and HVAC system will keep things worry-free for years to come.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Continental at Kingswood

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $104k271k

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

Neighborhood: Continental at Kingswood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2950100010501100115012001250130013501400145015001550Rent in $9121567

* 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
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$1,129
Property Tax -$194
Property Insurance -$60
HOA -$14
Property Management Fees -$99
CASH FLOW
$94

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.

$325,000

PROJECTED PRICE

$1,590

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.6%
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$18k

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$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$28,525

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,632

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5903$1,5954$1,6455$1,725
$1,725
RENT COMPS ANALYSIS
  • 17414 N Elko Drive Surprise, AZ 2
    • 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.95
    •  
  • 15334 W Melissa Lane Surprise, AZ 1
    • 3 beds 2 baths ∙ 1,667 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,667 Sqft ∙ Built 1999
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.87
    •  
  • 15071 W Heritage Oak Way Surprise, AZ 3
    • 3 beds 3 baths ∙ 1,518 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,518 Sqft ∙ Built 1996
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.05
    •  
  • 15332 W Lundberg Street Surprise, AZ 4
    • 3 beds 2 baths ∙ 1,597 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,597 Sqft ∙ Built 2004
    LEASED 02/23/22
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $1.03
    •  
  • 15118 W Post Drive Surprise, AZ 5
    • 3 beds 2 baths ∙ 1,806 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,806 Sqft ∙ Built 2003
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.96
    •  
PROPERTY LISTING DETAILS
Karen K Batson
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6193978
Last Updated: 02/13/2021
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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