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17770 W Addie Lane Surprise, AZ 85374

2 Beds 2 Baths 1,696 sqft Built 2002

$310,000

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $182.78
  • 2 Days on Market
  • MLS # : 6182018
  • Updated Date : 01/16/2021 at 20:13
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,696 sqft
  • Baths : 2 full
Listing Agent

Phoenix Property Group

Listing Agent's Description

Absolutely charming 2 bedroom + office/den home available in very upscale gated Surprise golf community. Fabulous community amenities include a heated pool and spa, clubhouse, workout facility and more. Inside you will love the spacious, open floor plan featuring soaring ceilings, beautiful, artistic design, lots of natural light, and clean, neutral tile in living/common areas. 100% Handicapped Accessible Home! Stylish kitchen presents sleek countertops, lovely wood cabinetry and an island. The master bedroom includes a large walk-in closet and a private bathroom with double sinks. Through sliding doors off the dining area you will find a huge covered patio-the perfect spot to relax and enjoy the magnificent desert evenings. This amazing home will sell fast. Come see it today!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Arizona Traditions

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $109k284k

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

Neighborhood: Arizona Traditions

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9491791

* 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
Willow Canyon High School High Regular 2,084 83 3

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

Willow Canyon High School

  • Education Level: High
  • # of students: 2,084
  • # of teachers: 83
3
GreatSchools Rating
 

$279,000$341,000$310,000

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$1,077
Property Tax -$216
Property Insurance -$60
HOA -$160
Property Management Fees -$99
CASH FLOW
$118

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.

$310,000

PROJECTED PRICE

$1,730

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 4.8%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,077

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$27,278

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,573

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6003$1,6004$1,7005$1,730
$1,730
RENT COMPS ANALYSIS
  • 17770 W Addie Lane Surprise, AZ 5
    • 2 beds 2 baths ∙ 1,696 Sqft ∙ Built 2002 2 beds 2 baths ∙ 1,696 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $1.02
    •  
  • 18067 W Hickcox Drive Surprise, AZ 1
    • 2 beds 2 baths ∙ 1,690 Sqft ∙ Built 1998 2 beds 2 baths ∙ 1,690 Sqft ∙ Built 1998
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.89
    •  
  • 17987 W Ryans Way Surprise, AZ 2
    • 2 beds 2 baths ∙ 1,800 Sqft ∙ Built 1997 2 beds 2 baths ∙ 1,800 Sqft ∙ Built 1997
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.89
    •  
  • 18643 N Granite Court Surprise, AZ 3
    • 2 beds 2 baths ∙ 1,726 Sqft ∙ Built 2003 2 beds 2 baths ∙ 1,726 Sqft ∙ Built 2003
    LEASED 01/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.93
    •  
  • 17628 W Lotten Drive Surprise, AZ 4
    • 2 beds 2 baths ∙ 1,708 Sqft ∙ Built 2001 2 beds 2 baths ∙ 1,708 Sqft ∙ Built 2001
    LEASED 09/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.00
    •  
PROPERTY LISTING DETAILS
Jamison Briley
Phoenix Property Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6182018
Last Updated: 01/16/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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