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18111 N Skyhawk Drive Surprise, AZ 85374

3 Beds 2 Baths 1,358 sqft Built 1998

$264,500

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $194.77
  • 4 Days on Market
  • MLS # : 6162664
  • Updated Date : 11/19/2020 at 17:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,358 sqft
  • Baths : 2 full
Listing Agent

Desert Fairways Realty, Llc

Listing Agent's Description

Great Location! This is wonderful 3 bedroom 2 bath home with vaulted ceilings, eat in kitchen, spacious pantry, large family room and covered patio. The private backyard has grass for pets or kids to play. This home is located in a beautiful neighborhood close to parks, shopping and lots of walking trails. Home has solar for low electric costs. Fridge, washer and dryer are included with the home.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Kingswood Parke

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $89k271k

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

Neighborhood: Kingswood Parke

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8921567

* 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
Kingswood Elementary School Primary Regular 674 36 4
Kingswood Elementary School Middle Regular 674 36 4
Willow Canyon High School High Regular 2,084 83 3

Kingswood Elementary School

  • Education Level: Primary
  • # of students: 674
  • # of teachers: 36
4
GreatSchools Rating

Kingswood Elementary School

  • Education Level: Middle
  • # of students: 674
  • # of teachers: 36
4
GreatSchools Rating

Willow Canyon High School

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

$238,050$290,950$264,500

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 -$976
Property Tax -$158
Property Insurance -$54
HOA -$14
Property Management Fees -$99
CASH FLOW
$150

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.

$264,500

PROJECTED PRICE

$1,450

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 10.0%
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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,843

INVESTMENT

$75,843

Down Payment
$66,125
Rehab Estimate
$5,750
Closing Costs
$3,968

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$976

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,125
Loan Amount $198,375
See What Happens When You Reinvest Cash Flow

8.58

YEARS SAVED

$35,971

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
  • $1.07

    LIST RENT PER SQFT
  • $1,446

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,275
1$1,2752$1,3953$1,4504$1,4505$1,575
$1,575
RENT COMPS ANALYSIS
  • 18111 N Skyhawk Drive Surprise, AZ 4
    • 3 beds 2 baths ∙ 1,358 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,358 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.07
    •  
  • 18206 N Skyhawk Drive Surprise, AZ 1
    • 3 beds 2 baths ∙ 1,358 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,358 Sqft ∙ Built 1998
    LEASED 12/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $0.94
    •  
  • 17923 N Reno Avenue Surprise, AZ 2
    • 3 beds 2 baths ∙ 1,283 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,283 Sqft ∙ Built 1998
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.09
    •  
  • 14722 W Parkwood Drive Surprise, AZ 3
    • 3 beds 2 baths ∙ 1,358 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,358 Sqft ∙ Built 1998
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.07
    •  
  • 14905 W Lamoille Drive Surprise, AZ 5
    • 3 beds 2 baths ∙ 1,358 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,358 Sqft ∙ Built 1997
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.16
    •  
PROPERTY LISTING DETAILS
Erin Brewer
Desert Fairways Realty, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6162664
Last Updated: 11/19/2020
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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