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18285 W Addie Lane Surprise, AZ 85374

2 Beds 2 Baths 1,555 sqft Built 2011

$349,000

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2011
  • Price/Sqft : $224.44
  • 3 Days on Market
  • MLS # : 6162890
  • Updated Date : 11/20/2020 at 09:40
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,555 sqft
  • Baths : 1 full , 1 half
Listing Agent

Kenneth James Realty

Listing Agent's Description

Welcome to this 1555 sq/ft Saguaro located on a corner lot with stunning mountain views and sunsets. Desert landscape and paver driveway make for lovely curb appeal. Foyer opens to vaulted great room with tile floor and open site-line to kitchen and dining. Kitchen boasts all stainless appliances, gas stove, kitchen island, and granite countertops! Master is split with vaulted ceiling, dual sinks, walk-in closet; office/den has double-doors and ideal for adding Murphy bed. Guest bath and bedroom located at end of hall for privacy. Garage has coated concrete and attractive cabinetry for storage. Patio covers entire backside of home and is extended with pavers. Low-maintenance backyard makes time to enjoy the views to the White Tank Mountains and the beautiful Arizona sunsets!

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
Western Peaks Elementary School Primary Regular 1,093 50 5
Western Peaks Elementary School Middle Regular 1,093 50 5
Willow Canyon High School High Regular 2,084 83 3

Western Peaks Elementary School

  • Education Level: Primary
  • # of students: 1,093
  • # of teachers: 50
5
GreatSchools Rating

Western Peaks Elementary School

  • Education Level: Middle
  • # of students: 1,093
  • # of teachers: 50
5
GreatSchools Rating

Willow Canyon High School

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

$314,100$383,900$349,000

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 -$1,288
Property Tax -$209
Property Insurance -$58
HOA -$160
Property Management Fees -$99
CASH FLOW
-$363

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.

$349,000

PROJECTED PRICE

$1,450

PROJECTED RENT

0.42%

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

PROJECTED ANNUAL CASH FLOW

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

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$98,235

INVESTMENT

$98,235

Down Payment
$87,250
Rehab Estimate
$5,750
Closing Costs
$5,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,288

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,250
Loan Amount $261,750
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$1,587

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
  • $0.93

    LIST RENT PER SQFT
  • $1,469

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4503$1,5004$1,6005$1,700
$1,700
RENT COMPS ANALYSIS
  • 18285 W Addie Lane Surprise, AZ 2
    • 2 beds 2 baths ∙ 1,555 Sqft ∙ Built 2011 2 beds 2 baths ∙ 1,555 Sqft ∙ Built 2011
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.93
    •  
  • 18047 W Buena Vista Drive Surprise, AZ 1
    • 2 beds 2 baths ∙ 1,401 Sqft ∙ Built 2004 2 beds 2 baths ∙ 1,401 Sqft ∙ Built 2004
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.00
    •  
  • 18067 W Hickcox Drive Surprise, AZ 3
    • 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 4
    • 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
    •  
  • 17628 W Lotten Drive Surprise, AZ 5
    • 2 beds 2 baths ∙ 1,708 Sqft ∙ Built 2001 2 beds 2 baths ∙ 1,708 Sqft ∙ Built 2001
    LEASED 09/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.00
    •  
PROPERTY LISTING DETAILS
Eileen Sixbey
Kenneth James Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6162890
Last Updated: 11/20/2020
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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