Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

18516 W Paradise Lane Surprise, AZ 85388

4 Beds 4 Baths 2,750 sqft Built 2014

$515,000

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $187.27
  • 3 Days on Market
  • MLS # : 6198945
  • Updated Date : 02/27/2021 at 14:55
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,750 sqft
  • Baths : 3 full , 1 half
Listing Agent

Libertas Real Estate

Listing Agent's Description

This home is one of the most popular floorplans of the community. Four bedrooms, three and a half baths in a single story split floor plan home. Beautiful neighborhood, no neighbors on one side and only single story houses around. This home has been upgraded with designer paint choices, flooring, cabinets, granite counters and lighting fixtures just to name a few. The Master Bedroom is oversized and the Ensuite Bath has two vanities, a tub, walk-in shower and His and Hers walk-in closets! This is real value for the money. Come take a look while it is still available.You won't be sorry!

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
 

$463,500$566,500$515,000

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,789
Property Tax -$358
Property Insurance -$81
HOA -$112
Property Management Fees -$99
CASH FLOW
-$529

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.

$515,000

PROJECTED PRICE

$1,910

PROJECTED RENT

0.37%

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

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$142,225

INVESTMENT

$142,225

Down Payment
$128,750
Rehab Estimate
$5,750
Closing Costs
$7,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,789

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $128,750
Loan Amount $386,250
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$1,056

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $1,884

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$1,745
1$1,7452$1,7953$1,9104$1,9505$2,195
$2,195
RENT COMPS ANALYSIS
  • 18516 W Paradise Lane Surprise, AZ 3
    • 4 beds 4 baths ∙ 2,750 Sqft ∙ Built 2014 4 beds 4 baths ∙ 2,750 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.69
    •  
  • 18512 W Douglas Way Surprise, AZ 1
    • 4 beds 3 baths ∙ 2,661 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,661 Sqft ∙ Built 2006
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.66
    •  
  • 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
    •  
  • 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
    •  
  • 18471 W Rimrock Street Surprise, AZ 5
    • 3 beds 3 baths ∙ 2,803 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,803 Sqft ∙ Built 2016
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.78
    •  
PROPERTY LISTING DETAILS
Peggy Powell
Libertas Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6198945
Last Updated: 02/27/2021
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.

BESbswy