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18405 W Turquoise Avenue Waddell, AZ 85355

4 Beds 3 Baths 2,520 sqft Built 2014

$365,000

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $144.84
  • 3 Days on Market
  • MLS # : 6161588
  • Updated Date : 11/28/2020 at 09:11
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,520 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty

Listing Agent's Description

This highly sought after single level home in Cortessa is sure to impress you. Light and bright with natural lighting this 4 beds, 2.5 baths, has a spacious feel to this Great Room Floorplan.. Beautiful kitchen, lots of great cabinets with upgraded custom trim and Butler Pantry and walk in Pantry. Newer Gas Range and microwave-oversized kitchen island with seating for 4! Eat-in Kitchen overlooks Great Room with views of rear yard. Upgraded interior doors throughout. The rear yard is green and lush--fantastic space to add your own special touches. Side yard has raised bed planters. You will love this house--add this to your list!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Waddell

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $109k346k

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

Neighborhood: Waddell

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10011951

* 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
Mountain View Elementary School Primary Regular 1,124 49 5
Mountain View Elementary School Middle Regular 1,124 49 5
Shadow Ridge High School High Regular 1,735 77 4

Mountain View Elementary School

  • Education Level: Primary
  • # of students: 1,124
  • # of teachers: 49
5
GreatSchools Rating

Mountain View Elementary School

  • Education Level: Middle
  • # of students: 1,124
  • # of teachers: 49
5
GreatSchools Rating

Shadow Ridge High School

  • Education Level: High
  • # of students: 1,735
  • # of teachers: 77
4
GreatSchools Rating
 

$328,500$401,500$365,000

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$1,347
Property Tax -$224
Property Insurance -$76
HOA -$85
Property Management Fees -$99
CASH FLOW
-$221

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.

$365,000

PROJECTED PRICE

$1,610

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 5.5%
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-$6.0k-$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$102,475

INVESTMENT

$102,475

Down Payment
$91,250
Rehab Estimate
$5,750
Closing Costs
$5,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,347

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $91,250
Loan Amount $273,750
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$8,591

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.64

    LIST RENT PER SQFT
  • $1,625

    COMP ESTIMATED VALUE
  • $0.65

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6103$1,6254$1,6855$1,785
$1,785
RENT COMPS ANALYSIS
  • 18405 W Turquoise Avenue Waddell, AZ 2
    • 4 beds 3 baths ∙ 2,520 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,520 Sqft ∙ Built 2014
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.64
    •  
  • 18609 W Hatcher Road Waddell, AZ 1
    • 4 beds 3 baths ∙ 2,693 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,693 Sqft ∙ Built 2005
    property image
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.58
    •  
  • 18624 W Sunnyslope Lane Waddell, AZ 3
    • 4 beds 3 baths ∙ 2,379 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,379 Sqft ∙ Built 2005
    property image
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.68
    •  
  • 18050 W Turquoise Avenue Waddell, AZ 4
    • 4 beds 3 baths ∙ 2,687 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,687 Sqft ∙ Built 2006
    property image
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,685
    • $0.63
    •  
  • 9803 N 185th Drive Waddell, AZ 5
    • 5 beds 3 baths ∙ 2,583 Sqft ∙ Built 2016 5 beds 3 baths ∙ 2,583 Sqft ∙ Built 2016
    property image
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,785
    • $0.69
    •  
PROPERTY LISTING DETAILS
Elise A Fay
Exp Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6161588
Last Updated: 11/28/2020
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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