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18142 W Camino Real Drive Surprise, AZ 85374

2 Beds 2 Baths 1,696 sqft Built 2004

$375,000

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $221.11
  • 4 Days on Market
  • MLS # : 6203836
  • Updated Date : 03/11/2021 at 20:46
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,696 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

Fabulous updated Coronado floor plan in guarded and gated Arizona Traditions 55+ active adult community! When you step into this home, it shows like a model home. This is a turn-key purchase opportunity with furniture and contents to convey. Updated flooring (2020), Updated interior paint (2020), landscape water system (2016), exterior paint (2016) Trane HVAC (2015). This home is move in ready! Updated tile and newer carpet, den/office renovations create a private space with a door. Don't miss this beautiful home!This 2 BR/2BA/Den/2Car GR has approximately 1,696 square feet of living space and is built on a 6,417 sf corner lot.

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
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
 

$337,500$412,500$375,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$1,303
Property Tax -$261
Property Insurance -$60
HOA -$160
Property Management Fees -$99
CASH FLOW
-$252

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.

$375,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.43%

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-$6.0k-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,303

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$4,808

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,532

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6003$1,6004$1,630
$1,630
RENT COMPS ANALYSIS
  • 18142 W Camino Real Drive Surprise, AZ 4
    • 2 beds 2 baths ∙ 1,696 Sqft ∙ Built 2004 2 beds 2 baths ∙ 1,696 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.96
    •  
  • 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 01/28/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.93
    •  
PROPERTY LISTING DETAILS
Richard Nichols
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6203836
Last Updated: 03/11/2021
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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