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17854 W Columbine Drive Surprise, AZ 85388

3 Beds 2 Baths 1,827 sqft Built 2008

INVESTimate

$300,000

List Price

$1,380

$1,242 - $1,518

Rent Est.

$324,270  ( +8.09%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 2008
  • Price/Sqft : $164.20
  • 7 Days on Market
  • MLS # : 6119967
  • Updated Date : 08/22/2020 at 20:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,827 sqft
  • Baths : 2 full
Listing Agent

Cerreta Real Estate

Listing Agent's Description

STUNNING IN SURPRISE! Drive up to see an upgraded stone elevation with beautiful landscape. Walk inside through a beautiful security door to the foyer which shows off this Great Room concept floor plan. The island kitchen boasts warm maple cabinets with a soft cherry stain and an island with a breakfast bar and sleek black appliances. Next to this there is a spacious dining area that has sliding glass doors to the covered patio. The Great Room has room for all. Huge master bedroom has a large walk in closet plus an extra built in closet. The master bath includes a garden tub, double sinks, and makeup vanity. There are 2'' wood blinds and upgraded ceiling fans throughout. Garage has epoxy floors. The backyard is low maintenance and has an extended patio for the cool nights to come.

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
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,242$1,518$1,380

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,380
EXPENSES Loan Payment -$1,107
Property Tax -$209
Property Insurance -$63
HOA -$70
Property Management Fees -$99
CASH FLOW
-$167

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.

$300,000

PROJECTED PRICE

$1,380

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 8.09%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

2.83

YEARS SAVED

$7,882

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,380

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,411

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,380
1$1,3802$1,4003$1,4204$1,4955$1,500
$1,500
RENT COMPS ANALYSIS
  • 17854 W Columbine Drive Surprise, 1
    • 3 beds 2 baths ∙ 1,827 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,827 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $0.76
    •  
  • 17773 W Andora Street Surprise, 2
    • 4 beds 2 baths ∙ 1,892 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,892 Sqft ∙ Built 2006
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.74
    •  
  • 17544 W Voltaire Street Surprise, 3
    • 3 beds 2 baths ∙ 1,836 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,836 Sqft ∙ Built 2006
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $0.77
    •  
  • 17768 W Calavar Road Surprise, 4
    • 4 beds 2 baths ∙ 1,978 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,978 Sqft ∙ Built 2004
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.76
    •  
  • 17530 W Columbine Drive Surprise, 5
    • 3 beds 2 baths ∙ 1,836 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,836 Sqft ∙ Built 2010
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.82
    •  
PROPERTY LISTING DETAILS
Marlene Cerreta
Cerreta Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6119967
Last Updated: 08/22/2020
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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