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18177 W Westpark Boulevard Surprise, AZ 85388

5 Beds 3 Baths 2,896 sqft Built 2006

$425,000

List Price

$1,780

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $146.75
  • 3 Days on Market
  • MLS # : 6208179
  • Updated Date : 03/19/2021 at 17:46
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,896 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Great home in the highly desirable Surprise Farms to raise your family and create amazing memories. 5 Bedrooms, 3 baths, large loft with built-in desks for working or studying from home. Formal living/dining room, Eat in kitchen with island and extra-large walk-in pantry (with added space under stairs), opens to the family room. Beautiful backyard with a pool. 1 Bedroom & Full Bath downstairs, Master Suite has large walk in closet. Garden tub for those that like to soak. Sun screens on windows on south side of home. Elementary and high school are walking distance. White Tank mountains nearby for hiking. Shopping and entertainment in Surprise is great and hosts the Texas Rangers & Kansas City Royals. Westgate is a short drive away for additional professional sporting events.

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
 

$382,500$467,500$425,000

PURCHASE PRICE

$1,602$1,958$1,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,780
EXPENSES Loan Payment -$1,476
Property Tax -$296
Property Insurance -$84
HOA -$20
Property Management Fees -$99
CASH FLOW
-$194

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.

$425,000

PROJECTED PRICE

$1,780

PROJECTED RENT

0.42%

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$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$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$9,879

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,780

    LIST RENT
  • $0.61

    LIST RENT PER SQFT
  • $1,890

    COMP ESTIMATED VALUE
  • $0.65

    COMP AVG. RENT PER SQFT
Comps Range
$1,780
1$1,7802$1,7953$1,8954$1,9455$1,950
$1,950
RENT COMPS ANALYSIS
  • 18177 W Westpark Boulevard Surprise, AZ 1
    • 5 beds 3 baths ∙ 2,896 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,896 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $0.61
    •  
  • 18393 W Tasha Drive Surprise, AZ 2
    • 4 beds 3 baths ∙ 2,847 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,847 Sqft ∙ Built 2009
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.63
    •  
  • 15157 N 174th Drive Surprise, AZ 3
    • 5 beds 4 baths ∙ 2,881 Sqft ∙ Built 2003 5 beds 4 baths ∙ 2,881 Sqft ∙ Built 2003
    LEASED 09/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.66
    •  
  • 18026 W Desert Lane Surprise, AZ 4
    • 4 beds 3 baths ∙ 2,972 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,972 Sqft ∙ Built 2007
    LEASED 05/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $0.65
    •  
  • 18012 W Caribbean Lane Surprise, AZ 5
    • 5 beds 3 baths ∙ 2,893 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,893 Sqft ∙ Built 2005
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.67
    •  
PROPERTY LISTING DETAILS
Lori Christiansen
Coldwell Banker Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6208179
Last Updated: 03/19/2021
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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