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18321 W Marconi Avenue Surprise, AZ 85388

3 Beds 2 Baths 2,132 sqft Built 2014

$340,000

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2014
  • Price/Sqft : $159.47
  • 3 Days on Market
  • MLS # : 6157059
  • Updated Date : 11/07/2020 at 11:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,132 sqft
  • Baths : 2 full
Listing Agent

Realty One Group

Listing Agent's Description

This beautiful single level home has a terrific open floorplan. 3 large bedrooms that includes a sitting room in the master bedroom. Kitchen opens to the living area and has stainless steel appliances, granite countertops, staggered cabinets and a kitchen island. Upgraded tile throughout the main areas of home and wood laminate flooring in the master. Master bath has dual sinks, separate shower and garden tub. Huge walk in closet int he master. Laundry room includes a wash sink. Backyard has grass and extended concrete with an RV gate at the side. This home is a must see.

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
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
 

$306,000$374,000$340,000

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$1,254
Property Tax -$236
Property Insurance -$69
HOA -$180
Property Management Fees -$99
CASH FLOW
-$329

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.

$340,000

PROJECTED PRICE

$1,510

PROJECTED RENT

0.44%

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

PROJECTED ANNUAL CASH FLOW

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

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$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

0.92

YEARS SAVED

$1,506

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,551

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,510
1$1,5102$1,5753$1,5954$1,6105$1,695
$1,695
RENT COMPS ANALYSIS
  • 18321 W Marconi Avenue Surprise, AZ 1
    • 3 beds 2 baths ∙ 2,132 Sqft ∙ Built 2014 3 beds 2 baths ∙ 2,132 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.71
    •  
  • 18211 W Maui Lane Surprise, AZ 2
    • 4 beds 2 baths ∙ 2,167 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,167 Sqft ∙ Built 2005
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.73
    •  
  • 17907 W Port Royale Lane Surprise, AZ 3
    • 3 beds 2 baths ∙ 2,177 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,177 Sqft ∙ Built 2004
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.73
    •  
  • 18089 W Westpark Boulevard Surprise, AZ 4
    • 4 beds 3 baths ∙ 2,313 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,313 Sqft ∙ Built 2006
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.70
    •  
  • 18448 W Surprise Farms Loop N Surprise, AZ 5
    • 4 beds 3 baths ∙ 2,249 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,249 Sqft ∙ Built 2009
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.75
    •  
PROPERTY LISTING DETAILS
Tina Gibson
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6157059
Last Updated: 11/07/2020
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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