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18088 W Paradise Lane Surprise, AZ 85388

3 Beds 2 Baths 1,981 sqft Built 2006

$389,900

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $196.82
  • 3 Days on Market
  • MLS # : 6190542
  • Updated Date : 02/05/2021 at 20:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,981 sqft
  • Baths : 2 full
Listing Agent

Phoenix Property Group

Listing Agent's Description

Come see this BEAUTIFUL move-in ready 3 bedrooms, 2 bathrooms home with a spacious open floorplan. Den with closet could easily be converted into a 4th bedroom. The home features 9 foot ceilings and tile throughout with gorgeous wood-like tile in the bedrooms. Move to the back yard to find desert style landscaping, a view fence that overlooks the community park, and a sparkling pool. In addition to this home, you'll fall in love with the Surprise Farms III neighborhood. This one won't last long - come view today!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Surprise Farms

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $120k358k

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

Neighborhood: Surprise Farms

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9631981

* 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
 

$350,910$428,890$389,900

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$1,354
Property Tax -$271
Property Insurance -$66
HOA -$20
Property Management Fees -$99
CASH FLOW
-$360

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$389,900

PROJECTED PRICE

$1,450

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$109,074

INVESTMENT

$109,074

Down Payment
$97,475
Rehab Estimate
$5,750
Closing Costs
$5,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,354

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $97,475
Loan Amount $292,425
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$1,870

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,481

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4753$1,5504$1,5755$1,595
$1,595
RENT COMPS ANALYSIS
  • 18088 W Paradise Lane Surprise, AZ 1
    • 3 beds 2 baths ∙ 1,981 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,981 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.73
    •  
  • 17753 W Post Drive Surprise, AZ 2
    • 4 beds 3 baths ∙ 1,818 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,818 Sqft ∙ Built 2005
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.81
    •  
  • 15927 N 175th Drive Surprise, AZ 3
    • 3 beds 2 baths ∙ 2,149 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,149 Sqft ∙ Built 2005
    LEASED 10/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.72
    •  
  • 18211 W Maui Lane Surprise, AZ 4
    • 4 beds 2 baths ∙ 2,167 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,167 Sqft ∙ Built 2005
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.73
    •  
  • 17907 W Port Royale Lane Surprise, AZ 5
    • 3 beds 2 baths ∙ 2,177 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,177 Sqft ∙ Built 2004
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.73
    •  
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 #: 6190542
Last Updated: 02/05/2021
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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