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18378 N Salerno Drive Maricopa, AZ 85138

5 Beds 3 Baths 3,507 sqft Built 2014

$350,000

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $99.80
  • 2 Days on Market
  • MLS # : 6159539
  • Updated Date : 01/16/2021 at 03:07
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,507 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty Sonoran Living

Listing Agent's Description

Stunning home with a true pride of ownership. A crisp curb appeal radiates from the stacked stone elevation and low-maintenance landscaping of this pristine corner lot. As you walk inside you're greeted by an expansive living room with two-tone neutral interior paint and the perfect mix of carpet and diagonally set ceramic tiles. Pass into the kitchen and you're instantly overcome by the size of the family room that opens to everything, perfect for entertaining. With granite countertops, custom tiled backsplash, stainless appliances, 42'' maple cabinets and recessed canned lights, this kitchen is a chef's dream. Head upstairs and you're met by a massive loft that is ideal for a media room or game area.

SEE MORE

PRICE & RENT TRENDS

Zip Code: 85138

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $109k282k

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

Zip Code: 85138

ZipNIR Market*CityMarket2010Year20002019 Q2100010501100115012001250130013501400145015001550Rent in $9681567

* 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
Santa Cruz Elementary School Primary Regular 453 21 5
Desert Wind Middle School Middle Regular 414 20 4
Maricopa High School High Regular 1,796 70 3

Santa Cruz Elementary School

  • Education Level: Primary
  • # of students: 453
  • # of teachers: 21
5
GreatSchools Rating

Desert Wind Middle School

  • Education Level: Middle
  • # of students: 414
  • # of teachers: 20
4
GreatSchools Rating

Maricopa High School

  • Education Level: High
  • # of students: 1,796
  • # of teachers: 70
3
GreatSchools Rating
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$1,216
Property Tax -$369
Property Insurance -$96
HOA -$78
Property Management Fees -$99
CASH FLOW
-$98

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.

$350,000

PROJECTED PRICE

$1,760

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 7.0%
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$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$10,992

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $0.5

    LIST RENT PER SQFT
  • $1,859

    COMP ESTIMATED VALUE
  • $0.53

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,760
$1,760
RENT COMPS ANALYSIS
  • 18378 N Salerno Drive Maricopa, AZ 2
    • 5 beds 3 baths ∙ 3,507 Sqft ∙ Built 2014 5 beds 3 baths ∙ 3,507 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.50
    •  
  • 40381 W Marion May Lane Maricopa, AZ 1
    • 4 beds 3 baths ∙ 3,181 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,181 Sqft ∙ Built 2006
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.53
    •  
PROPERTY LISTING DETAILS
James Townsend Goodman
Keller Williams Realty Sonoran Living
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6159539
Last Updated: 01/16/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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