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1818 S 116th Lane Avondale, AZ 85323

5 Beds 3 Baths 2,646 sqft Built 2004

INVESTimate

$360,000

List Price

$1,570

$1,413 - $1,727

Rent Est.

$392,436  ( +9.01%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $136.05
  • 5 Days on Market
  • MLS # : 6121485
  • Updated Date : 08/24/2020 at 13:29
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,646 sqft
  • Baths : 3 full
Listing Agent

West Usa Realty

Listing Agent's Description

NO SHOWINGS UNTIL SEPTEMBER 5TH!!!Amazing FAMILY home with a HUGE, ADVENTURE LAND backyard that serves to entertain those of ALL AGES! It boasts 5 bedrooms (1 bedroom downstairs) & 3 baths. Kids can swim in the pool and play under the rock water feature. Mom & Dad can enjoy the shade of the gazebo or covered patio. Grandpa can play golf on the putting green, while the teens compete in a game of basketball on the huge court. All while Grandma prepares dinner on the built-in BBQ. Drinks later at the built-in bar with custom bar stools? Or just relax & enjoy the stars & roaring fire in the sunken firepit? Take the boat to the lake that's stored on the concrete pad, behind the large RV gate? This home has it ALL! Including a 3 car garage!

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PRICE & RENT TRENDS

Neighborhood: Coldwater Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: Coldwater Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2850900950100010501100115012001250130013501400145015001550Rent in $8421567

* 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
Estrella Vista Elementary School Primary Regular 965 50 3
Estrella Vista Elementary School Middle Regular 965 50 3
La Joya Community High School High Regular 2,051 84 1

Estrella Vista Elementary School

  • Education Level: Primary
  • # of students: 965
  • # of teachers: 50
3
GreatSchools Rating

Estrella Vista Elementary School

  • Education Level: Middle
  • # of students: 965
  • # of teachers: 50
3
GreatSchools Rating

La Joya Community High School

  • Education Level: High
  • # of students: 2,051
  • # of teachers: 84
1
GreatSchools Rating
 

$324,000$396,000$360,000

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

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-$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$1.2M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$1,328
Property Tax -$250
Property Insurance -$79
HOA -$57
Property Management Fees -$99
CASH FLOW
-$243

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.

$360,000

PROJECTED PRICE

$1,570

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 9.01%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,150

INVESTMENT

$101,150

Down Payment
$90,000
Rehab Estimate
$5,750
Closing Costs
$5,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,328

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $90,000
Loan Amount $270,000
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$6,431

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,561

    COMP ESTIMATED VALUE
  • $0.59

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,3503$1,5004$1,5505$1,799
$1,799
RENT COMPS ANALYSIS
  • 1818 S 116th Lane Avondale, 1
    • 5 beds 3 baths ∙ 2,646 Sqft ∙ Built 2004 5 beds 3 baths ∙ 2,646 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 12201 W Calle Hermosa Lane Avondale, 2
    • 4 beds 3 baths ∙ 2,453 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,453 Sqft ∙ Built 2009
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.55
    •  
  • 509 S 114th Avenue Avondale, 3
    • 4 beds 3 baths ∙ 2,479 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,479 Sqft ∙ Built 2006
    LEASED 09/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.61
    •  
  • 11613 W Hadley Street Avondale, 4
    • 5 beds 4 baths ∙ 2,666 Sqft ∙ Built 2003 5 beds 4 baths ∙ 2,666 Sqft ∙ Built 2003
    LEASED 04/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.58
    •  
  • 11582 W Cocopah Street Avondale, 5
    • 5 beds 3 baths ∙ 2,902 Sqft ∙ Built 2004 5 beds 3 baths ∙ 2,902 Sqft ∙ Built 2004
    LEASED 10/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,799
    • $0.62
    •  
PROPERTY LISTING DETAILS
Holly Morris
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6121485
Last Updated: 08/24/2020
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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