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18520 W Surprise Farms Loop N Surprise, AZ 85388

3 Beds 2 Baths 1,795 sqft Built 2009

$349,900

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $194.93
  • 4 Days on Market
  • MLS # : 6205126
  • Updated Date : 03/12/2021 at 18:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,795 sqft
  • Baths : 2 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

This impeccable 3 bedroom, 2 bath home is located in the quiet and highly desirable neighborhood of Surprise Farms. With a view of the White Tank Mountains this home boasts a rounded front entrance, split bedrooms, 9' ceiling, and open floorplan. With many upgrades completed in the home including neutral paint and carpeting, wood look tile flooring, 20'' diagonal tile this home is sure to please. The kitchen opens to the Great Room and Dining area with granite counters, staggered cabinetry, steel appliances, and breakfast bar. Master bedroom has a beautiful rounded entrance, huge walk in closet, wood-look floor tile, raised height vanity counters, dual sinks, and separate shower and garden tub.Spacious 2nd and 3rd bedrooms, ample storage, and more! *See private remarks.

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
 

$314,910$384,890$349,900

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$1,215
Property Tax -$243
Property Insurance -$62
HOA -$65
Property Management Fees -$99
CASH FLOW
-$335

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.

$349,900

PROJECTED PRICE

$1,350

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

PROJECTED ANNUAL CASH FLOW

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

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$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,215

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

0.92

YEARS SAVED

$1,292

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
  • $1,364

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,2253$1,3504$1,5005$1,510
$1,510
RENT COMPS ANALYSIS
  • 18520 W Surprise Farms Loop N Surprise, AZ 1
    • 3 beds 2 baths ∙ 1,795 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,795 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 17289 N 184th Lane Surprise, AZ 2
    • 3 beds 3 baths ∙ 1,692 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,692 Sqft ∙ Built 2005
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,225
    • $0.72
    •  
  • 18136 W Ivy Lane Surprise, AZ 3
    • 3 beds 2 baths ∙ 1,758 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,758 Sqft ∙ Built 2012
    LEASED 04/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.77
    •  
  • 18539 W Sunbelt Drive Surprise, AZ 4
    • 3 beds 3 baths ∙ 1,898 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,898 Sqft ∙ Built 2006
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.79
    •  
  • 17886 N Bell Pointe Boulevard Surprise, AZ 5
    • 4 beds 2 baths ∙ 1,991 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,991 Sqft ∙ Built 2005
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.76
    •  
PROPERTY LISTING DETAILS
Terri S Frye
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6205126
Last Updated: 03/12/2021
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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