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1843 W Renaissance Avenue Apache Junction, AZ 85120

3 Beds 2 Baths 1,369 sqft Built 1997

INVESTimate

$275,000

List Price

$1,210

$1,089 - $1,331

Rent Est.

$299,530  ( +8.92%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1997
  • Price/Sqft : $200.88
  • 7 Days on Market
  • MLS # : 6117733
  • Updated Date : 08/20/2020 at 11:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,369 sqft
  • Baths : 2 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

Beautiful move in ready 3 bed/ 2 bath single family home! You get a little bit of everything with this one. Big open floor plan, large master bedroom with huge walk in closet, tile throughout with carpets in the bedrooms, low maintenance backyard including small area for a garden and covered patio, 2 car garage, good sized, modern kitchen that comes with all appliances for home cooking, recent upgrades including floors and counters, and very good location close to schools, shopping, freeway access and the Superstition Mountains.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Apache Junction

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: Apache Junction

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8621567

* 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
Four Peaks Elementary School Primary Regular 686 37 6
Four Peaks Elementary School Middle Regular 686 37 6
Apache Junction High School High Regular 1,304 69 3

Four Peaks Elementary School

  • Education Level: Primary
  • # of students: 686
  • # of teachers: 37
6
GreatSchools Rating

Four Peaks Elementary School

  • Education Level: Middle
  • # of students: 686
  • # of teachers: 37
6
GreatSchools Rating

Apache Junction High School

  • Education Level: High
  • # of students: 1,304
  • # of teachers: 69
3
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,089$1,331$1,210

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,210
EXPENSES Loan Payment -$1,015
Property Tax -$151
Property Insurance -$54
HOA -$18
Property Management Fees -$99
CASH FLOW
-$127

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.

$275,000

PROJECTED PRICE

$1,210

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 8.92%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$9,503

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,321

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,2953$1,3994$1,4505$1,595
$1,595
RENT COMPS ANALYSIS
  • 1843 W Renaissance Avenue Apache Junction, 1
    • 3 beds 2 baths ∙ 1,369 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,369 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1250 W 21st Avenue Apache Junction, 2
    • 3 beds 2 baths ∙ 1,251 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,251 Sqft ∙ Built 1999
    LEASED 04/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.04
    •  
  • 2101 W Tufa Street Apache Junction, 3
    • 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 1980
    LEASED 04/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $0.99
    •  
  • 660 S Lawson Drive Apache Junction, 4
    • 3 beds 2 baths ∙ 1,657 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,657 Sqft ∙ Built 2006
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.88
    •  
  • 11057 E Catalina Avenue Mesa, 5
    • 3 beds 2 baths ∙ 1,679 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,679 Sqft ∙ Built 1999
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.95
    •  
PROPERTY LISTING DETAILS
George Laughton
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6117733
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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