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17585 W Corrine Drive Surprise, AZ 85388

5 Beds 3 Baths 2,950 sqft Built 2010

$410,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2010
  • Price/Sqft : $138.98
  • 2 Days on Market
  • MLS # : 6157819
  • Updated Date : 11/07/2020 at 16:05
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,950 sqft
  • Baths : 3 full
Listing Agent

Phoenix Property Group

Listing Agent's Description

Move in ready 5 beds, 3 full baths, one bedroom and full bath downstairs and 3 car garage. Separate dining room and living room, spacious family room with soaring ceilings. Wood plank tile flooring, stylish light fixtures, large loft. The kitchen includes dark maple cabinets with lighting, 20'' tile, stainless steel appliances, kitchen island and large eat-in kitchen area. Double entry to the master suite, sliding barn door to the master bathroom. Separate shower and tub, double sinks and walk-in closet. 3 additional bedrooms upstairs, full bathroom with double sinks. Backyard includes a fenced in play pool, entertaining area with firepit and easy maintenance landscaping. Don't miss this one, show & sell!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Surprise

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $109k271k

* 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
Western Peaks Elementary School Primary Regular 1,093 50 5
Western Peaks Elementary School Middle Regular 1,093 50 5
Shadow Ridge High School High Regular 1,735 77 4

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

Shadow Ridge High School

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

$369,000$451,000$410,000

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$1,513
Property Tax -$285
Property Insurance -$85
HOA -$70
Property Management Fees -$99
CASH FLOW
-$361

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.

$410,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 8.1%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$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$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$114,400

INVESTMENT

$114,400

Down Payment
$102,500
Rehab Estimate
$5,750
Closing Costs
$6,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,513

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $102,500
Loan Amount $307,500
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$3,912

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
  • $1,755

    COMP ESTIMATED VALUE
  • $0.6

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,5003$1,8504$1,8755$2,095
$2,095
RENT COMPS ANALYSIS
  • 17585 W Corrine Drive Surprise, AZ 1
    • 5 beds 3 baths ∙ 2,950 Sqft ∙ Built 2010 5 beds 3 baths ∙ 2,950 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 17617 W Bloomfield Road Surprise, AZ 2
    • 5 beds 3 baths ∙ 2,761 Sqft ∙ Built 2008 5 beds 3 baths ∙ 2,761 Sqft ∙ Built 2008
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.54
    •  
  • 17998 W Banff Lane Surprise, AZ 3
    • 4 beds 3 baths ∙ 3,075 Sqft ∙ Built 2004 4 beds 3 baths ∙ 3,075 Sqft ∙ Built 2004
    LEASED 06/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.60
    •  
  • 17832 W Voltaire Street Surprise, AZ 4
    • 4 beds 3 baths ∙ 3,100 Sqft ∙ Built 2008 4 beds 3 baths ∙ 3,100 Sqft ∙ Built 2008
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.60
    •  
  • 17874 W Bloomfield Road Surprise, AZ 5
    • 5 beds 3 baths ∙ 3,290 Sqft ∙ Built 2008 5 beds 3 baths ∙ 3,290 Sqft ∙ Built 2008
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.64
    •  
PROPERTY LISTING DETAILS
John Poyner
Phoenix Property Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6157819
Last Updated: 11/07/2020
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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