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18473 W Desert Lane Surprise, AZ 85388

4 Beds 3 Baths 3,045 sqft Built 2011

$510,000

List Price

$1,990

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2011
  • Price/Sqft : $167.49
  • 3 Days on Market
  • MLS # : 6193248
  • Updated Date : 02/12/2021 at 02:20
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,045 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Professionals

Listing Agent's Description

You will find wonderful features in this 3,045 sq. ft. single level, 4 bed 2.5 bath home with 3 car garage and RV gate. The stunning security screen opens to an open floor plan with 10' ceilings, gray plank style tile in all the main areas and shutters throughout. The formal area would be perfect for entertainment, cozy living or a roomy dining space. The family room is spacious and offers a sightline to much of the home to include the gorgeous remodeled kitchen. There you will see a galore of counter space with multiple islands, tons of guest seating and room for a massive dining table. Amazing space in the Master Bedroom with large ensuite w/ dual sinks, separate tub/shower and his/her closets. The backyard boasts a private pool with water feature, grassy play areas and built in Pergola

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
Willow Canyon High School High Regular 2,084 83 3

Willow Canyon High School

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

$459,000$561,000$510,000

PURCHASE PRICE

$1,791$2,189$1,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,990
EXPENSES Loan Payment -$1,771
Property Tax -$355
Property Insurance -$87
HOA -$20
Property Management Fees -$99
CASH FLOW
-$342

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.

$510,000

PROJECTED PRICE

$1,990

PROJECTED RENT

0.39%

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$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$140,900

INVESTMENT

$140,900

Down Payment
$127,500
Rehab Estimate
$5,750
Closing Costs
$7,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,771

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $127,500
Loan Amount $382,500
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$6,341

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
  • $2,002

    COMP ESTIMATED VALUE
  • $0.66

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,7953$1,9454$1,9505$1,995
$1,995
RENT COMPS ANALYSIS
  • 18473 W Desert Lane Surprise, AZ 1
    • 4 beds 3 baths ∙ 3,045 Sqft ∙ Built 2011 4 beds 3 baths ∙ 3,045 Sqft ∙ Built 2011
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 18393 W Tasha Drive Surprise, AZ 2
    • 4 beds 3 baths ∙ 2,847 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,847 Sqft ∙ Built 2009
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.63
    •  
  • 18026 W Desert Lane Surprise, AZ 3
    • 4 beds 3 baths ∙ 2,972 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,972 Sqft ∙ Built 2007
    LEASED 05/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $0.65
    •  
  • 18012 W Caribbean Lane Surprise, AZ 4
    • 5 beds 3 baths ∙ 2,893 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,893 Sqft ∙ Built 2005
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.67
    •  
  • 18045 W Carmen Drive Surprise, AZ 5
    • 4 beds 3 baths ∙ 2,939 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,939 Sqft ∙ Built 2007
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.68
    •  
PROPERTY LISTING DETAILS
Adrian Lucero Fierro
Re/max Professionals
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6193248
Last Updated: 02/12/2021
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. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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