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17618 N Somerset Drive Surprise, AZ 85374

2 Beds 2 Baths 1,934 sqft Built 1999

$352,500

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $182.26
  • 2 Days on Market
  • MLS # : 6187761
  • Updated Date : 01/30/2021 at 18:29
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,934 sqft
  • Baths : 2 full
Listing Agent

Realty One Group

Listing Agent's Description

Welcome to the Golf Course Community of Sun City Grand. Spacious great room floor plan w/neutral tile floors, soothing palette, ceiling fans, plush carpet in all the right places, & Pride of Ownership throughout. Formal dining area w/patio access, breakfast bar, stylish counters, wine rack, shelves, pantry, kitchen skylight, & plenty of wood kitchen cabinets. Private den! Double french doors lead into the large owner's suite that includes beautiful views from the bay windows and huge walk-in closet. Generous size guest bedroom, 2 pristine baths, & interior laundry room w/a sink & storage cabinets. Charming backyard courtyard, meticulous desert landscape, & covered patio. Community Heated Pool, Spa, Clubhouse, Tennis Courts, & more. Take a tour & fall in love with this wonderful lifestyle!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Sun City Grand-Jasper Point

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $109k393k

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

Neighborhood: Sun City Grand-Jasper Point

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9792120

* 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
 

$317,250$387,750$352,500

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$1,224
Property Tax -$256
Property Insurance -$65
HOA -$11
Property Management Fees -$99
CASH FLOW
$104

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.

$352,500

PROJECTED PRICE

$1,760

PROJECTED RENT

0.50%

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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$99,163

INVESTMENT

$99,163

Down Payment
$88,125
Rehab Estimate
$5,750
Closing Costs
$5,288

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,224

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $88,125
Loan Amount $264,375
See What Happens When You Reinvest Cash Flow

7.17

YEARS SAVED

$30,530

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
  • $1,881

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,6003$1,8754$2,0005$2,150
$2,150
RENT COMPS ANALYSIS
  • 17618 N Somerset Drive Surprise, AZ 1
    • 2 beds 2 baths ∙ 1,934 Sqft ∙ Built 1999 2 beds 2 baths ∙ 1,934 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 18643 N Granite Court Surprise, AZ 2
    • 2 beds 2 baths ∙ 1,726 Sqft ∙ Built 2003 2 beds 2 baths ∙ 1,726 Sqft ∙ Built 2003
    property image
    LEASED 01/28/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.93
    •  
  • 20013 N Siesta Rock Drive Surprise, AZ 3
    • 2 beds 2 baths ∙ 2,035 Sqft ∙ Built 1997 2 beds 2 baths ∙ 2,035 Sqft ∙ Built 1997
    property image
    LEASED 01/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.92
    •  
  • 16135 W Casa Bonita Court Surprise, AZ 4
    • 2 beds 3 baths ∙ 2,035 Sqft ∙ Built 1999 2 beds 3 baths ∙ 2,035 Sqft ∙ Built 1999
    property image
    LEASED 11/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.98
    •  
  • 17307 N Stone Haven Drive Surprise, AZ 5
    • 2 beds 2 baths ∙ 2,035 Sqft ∙ Built 2000 2 beds 2 baths ∙ 2,035 Sqft ∙ Built 2000
    property image
    LEASED 01/18/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.06
    •  
PROPERTY LISTING DETAILS
Joel Cassidy
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6187761
Last Updated: 01/30/2021
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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