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18490 W Louise Drive Surprise, AZ 85387

3 Beds 3 Baths 1,884 sqft Built 2018

$309,999

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2018
  • Price/Sqft : $164.54
  • 5 Days on Market
  • MLS # : 6153752
  • Updated Date : 10/30/2020 at 02:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,884 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Northeast Realty

Listing Agent's Description

Austin Ranch perfect 3/2.5 with tenant in place til 5/31/2021 - perfect investment property. 3 bedroom, 2.5 baths, plus large flex space can be used for office or family room. This open concept home has a spacious great room for entertaining. Highly desirable model with a split floor plan and exceptional upgrades and features. Gorgeous kitchen with farmhouse sink and white shaker style cabinets, upgraded appliances, gorgeous quartz counters and walk in pantry. Executive height bathroom counters. 3 car tandem garage is excellent for your off road toys, cars or extra storage with a small mud room / owner's entry to the home. Tile & carperting in neutral colors, 9 ft doorways, ceiling fans throughout. Low maint. desert front landscaping. Community pool, parks, play areas.

SEE MORE

PRICE & RENT TRENDS

Zip Code: 85387

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $120k358k

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

Zip Code: 85387

ZipNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9791981

* 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
Kingswood Elementary School Primary Regular 674 36 4
Kingswood Elementary School Middle Regular 674 36 4
Willow Canyon High School High Regular 2,084 83 3

Kingswood Elementary School

  • Education Level: Primary
  • # of students: 674
  • # of teachers: 36
4
GreatSchools Rating

Kingswood Elementary School

  • Education Level: Middle
  • # of students: 674
  • # of teachers: 36
4
GreatSchools Rating

Willow Canyon High School

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

$278,999$340,999$309,999

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$1,144
Property Tax -$186
Property Insurance -$64
HOA -$62
Property Management Fees -$99
CASH FLOW
$36

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.

$309,999

PROJECTED PRICE

$1,590

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.0%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,144

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,500
Loan Amount $232,499
See What Happens When You Reinvest Cash Flow

5.92

YEARS SAVED

$24,155

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,702

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,590
1$1,5902$1,6503$1,7504$1,795
$1,795
RENT COMPS ANALYSIS
  • 18490 W Louise Drive Surprise, AZ 1
    • 3 beds 3 baths ∙ 1,884 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,884 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.84
    •  
  • 18450 W Louise Drive Surprise, AZ 2
    • 4 beds 3 baths ∙ 1,884 Sqft ∙ Built 2018 4 beds 3 baths ∙ 1,884 Sqft ∙ Built 2018
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.88
    •  
  • 18440 W Ida Lane Surprise, AZ 3
    • 3 beds 2 baths ∙ 1,989 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,989 Sqft ∙ Built 2018
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.88
    •  
  • 17918 W Via Del Sol -- Surprise, AZ 4
    • 3 beds 2 baths ∙ 1,895 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,895 Sqft ∙ Built 2018
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.95
    •  
PROPERTY LISTING DETAILS
Ronald J Guzman
Keller Williams Northeast Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6153752
Last Updated: 10/30/2020
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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