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17874 W Spencer Drive Surprise, AZ 85374

3 Beds 3 Baths 2,209 sqft Built 2002

$434,434

List Price

$1,820

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $196.67
  • 3 Days on Market
  • MLS # : 6184382
  • Updated Date : 01/22/2021 at 16:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,209 sqft
  • Baths : 2 full , 1 half
Listing Agent

Prestige Realty

Listing Agent's Description

**24/7 VIRTUAL OPEN HOUSE- 360 Tour-ON PHOTOS TAB**''ATTENTION to DETAIL'' in every FEATURE of this MOVE-IN READY home in the Spectacular Arizona Traditions Adult Golf Resort Community. Soaring High ceilings throughout this home, with wood-like Vinyl Tile flooring and updated-upgraded fixtures and hardware. Fresh Modern look in the kitchen with the large island. Great Room Living with Bar, connecting the Living and Dining areas with the kitchen and entry, 3 bedrooms leaves room for a home office and to entertain family and guests with a private bath between the secondary bedrooms. Rear yard with mature fruit trees, Built in BBQ and Extended Patio and raised garden beds in this larger lot area of the community. Walking distance to Horseshoe Park with pickle ball, softball field & amenities.

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
 

$390,991$477,877$434,434

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$1,509
Property Tax -$302
Property Insurance -$70
HOA -$160
Property Management Fees -$99
CASH FLOW
-$320

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.

$434,434

PROJECTED PRICE

$1,820

PROJECTED RENT

0.42%

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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$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$120,875

INVESTMENT

$120,875

Down Payment
$108,609
Rehab Estimate
$5,750
Closing Costs
$6,517

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,509

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $108,609
Loan Amount $325,826
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$4,340

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,820

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,668

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,510
1$1,5102$1,5503$1,6604$1,7355$1,820
$1,820
RENT COMPS ANALYSIS
  • 17874 W Spencer Drive Surprise, AZ 5
    • 3 beds 3 baths ∙ 2,209 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,209 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.82
    •  
  • 17886 N Bell Pointe Boulevard Surprise, AZ 1
    • 4 beds 2 baths ∙ 1,991 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,991 Sqft ∙ Built 2005
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.76
    •  
  • 18394 W Dawn Drive Surprise, AZ 2
    • 3 beds 3 baths ∙ 2,075 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,075 Sqft ∙ Built 2005
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.75
    •  
  • 18338 W Stinson Drive Surprise, AZ 3
    • 4 beds 2 baths ∙ 2,232 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,232 Sqft ∙ Built 2005
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.74
    •  
  • 17620 W Lundberg Street Surprise, AZ 4
    • 3 beds 3 baths ∙ 2,255 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,255 Sqft ∙ Built 2005
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,735
    • $0.77
    •  
PROPERTY LISTING DETAILS
Todd Phillips
Prestige Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6184382
Last Updated: 01/22/2021
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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