Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

17684 W Molly Lane Surprise, AZ 85387

3 Beds 2 Baths 1,426 sqft Built 2007

$299,900

List Price

$1,300

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $210.31
  • 3 Days on Market
  • MLS # : 6186559
  • Updated Date : 01/29/2021 at 23:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,426 sqft
  • Baths : 2 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

WOW, WHAT A BEAUTY!!! Come check out this amazing 3 bedroom 2 bath home situated in the community of Desert Oasis Surprise. The kitchen includes Brazilian smoky quartz granite countertops, white subway tile backsplash, kitchen pantry, black appliances, and a breakfast bar. Hardwood natural oak flooring in the great room, carpet and 20 inch tile throughout. Bathrooms have been upgraded with new cabinets, countertops, and double sinks in the master bath along with a soft closing toilet and bidet. Step out and enjoy the Arizona weather and entertain your guests in the large landscaped backyard. You'll love being within walking distance to the community pool, scenic walking trails and green belts. Families with small children will appreciate the K-8 onsite school. Hurry this one won't last!!!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Desert Oasis

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $107k271k

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

Neighborhood: Desert Oasis

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100010501100115012001250130013501400145015001550Rent in $9721567

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

SCHOOLS

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$269,910$329,890$299,900

PURCHASE PRICE

$1,170$1,430$1,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,300
EXPENSES Loan Payment -$1,042
Property Tax -$157
Property Insurance -$55
HOA -$78
Property Management Fees -$99
CASH FLOW
-$131

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.

$299,900

PROJECTED PRICE

$1,300

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 10.8%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$8,276

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,300

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,387

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,4003$1,4504$1,7005$1,700
$1,700
RENT COMPS ANALYSIS
  • 17684 W Molly Lane Surprise, AZ 1
    • 3 beds 2 baths ∙ 1,426 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,426 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.91
    •  
  • 17682 W Cavedale Drive Surprise, AZ 2
    • 3 beds 2 baths ∙ 1,668 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,668 Sqft ∙ Built 2006
    property image
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.84
    •  
  • 17634 W Red Bird Road Surprise, AZ 3
    • 3 beds 2 baths ∙ 1,441 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,441 Sqft ∙ Built 2008
    property image
    LEASED 09/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.01
    •  
  • 17404 W Molly Lane Surprise, AZ 4
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 2020
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.06
    •  
  • 17642 W Red Bird Road Surprise, AZ 5
    • 4 beds 2 baths ∙ 1,734 Sqft ∙ Built 2008 4 beds 2 baths ∙ 1,734 Sqft ∙ Built 2008
    property image
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.98
    •  
PROPERTY LISTING DETAILS
Julie Rogers
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6186559
Last Updated: 01/29/2021
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.

BESbswy