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18205 N 85th Drive Peoria, AZ 85382

3 Beds 2 Baths 1,531 sqft Built 1993

INVESTimate

$299,900

List Price

$1,410

$1,269 - $1,551

Rent Est.

$318,824  ( +6.31%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1993
  • Price/Sqft : $195.89
  • 7 Days on Market
  • MLS # : 6120200
  • Updated Date : 08/20/2020 at 14:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,531 sqft
  • Baths : 2 full
Listing Agent

Redfin Corporation

Listing Agent's Description

Don't miss this terrific home at the end of a cul-de-sac just steps away from beautiful Apache Park in Peoria for convenient play and recreation! Vaulted ceilings give the home an open, spacious feel. Large eat-in kitchen overlooks comfortable living/family room for ease of entertaining. Kitchen has tons of storage, abundant counter space, large pantry, and huge island with breakfast bar. Spacious master bedroom with bay windows. Master bath features dual sinks, separate tub and shower. Bedrooms 2 and 3 are very nice size, bathroom 2 is spacious and well-appointed. Backyard has mature landscaping, very large patio, and plenty of room to add the pool of your dreams! Home has a bit of wear and tear, and carpet is in need of replacing, yet this is tremendous opportunity for the right buyer!

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PRICE & RENT TRENDS

Neighborhood: Bell Park

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $109k289k

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

Neighborhood: Bell Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9291793

* 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
Apache Elementary School Primary Regular 756 38 8
Apache Elementary School Middle Regular 756 38 8
Sunrise Mountain High School High Regular 1,675 72 7

Apache Elementary School

  • Education Level: Primary
  • # of students: 756
  • # of teachers: 38
8
GreatSchools Rating

Apache Elementary School

  • Education Level: Middle
  • # of students: 756
  • # of teachers: 38
8
GreatSchools Rating

Sunrise Mountain High School

  • Education Level: High
  • # of students: 1,675
  • # of teachers: 72
7
GreatSchools Rating
 

$269,910$329,890$299,900

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$1,107
Property Tax -$204
Property Insurance -$57
Property Management Fees -$99
CASH FLOW
-$57

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.

$299,900

PROJECTED PRICE

$1,410

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.31%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$16,930

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,405

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4103$1,4954$1,5005$1,595
$1,595
RENT COMPS ANALYSIS
  • 18205 N 85th Drive Peoria, 2
    • 3 beds 2 baths ∙ 1,531 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,531 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $0.92
    •  
  • 8359 W Bluefield Avenue Peoria, 1
    • 3 beds 2 baths ∙ 1,615 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,615 Sqft ∙ Built 1994
    LEASED 11/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.86
    •  
  • 19011 N 79th Drive Glendale, 3
    • 3 beds 2 baths ∙ 1,667 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,667 Sqft ∙ Built 1995
    LEASED 08/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.90
    •  
  • 8927 W John Cabot Road Peoria, 4
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1997
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.94
    •  
  • 8959 W Alda Way Peoria, 5
    • 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 2003
    LEASED 07/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.97
    •  
PROPERTY LISTING DETAILS
Max Shadle
Redfin Corporation
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6120200
Last Updated: 08/20/2020
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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