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18614 N Salerno Court Surprise, AZ 85387

2 Beds 2 Baths 1,393 sqft Built 2002

$310,000

List Price

$1,370

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $222.54
  • 2 Days on Market
  • MLS # : 6207056
  • Updated Date : 03/14/2021 at 00:25
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,393 sqft
  • Baths : 2 full
Listing Agent

Phoenix Property Group

Listing Agent's Description

Amazing move in ready 2/2 plus a den in the heart of Sun City Grand! Quiet cul-de-sac lot. Nicely upgraded and ready for your most particular clients. Freshly painted inside and outside, brand new carpet in bedrooms and great room, upgraded tile everywhere else, incredible front and back patio with custom concrete finish, perfect landscaped with full fenced backyard for privacy and pets!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Sun City Grand Patagonia

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $109k298k

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

Neighborhood: Sun City Grand Patagonia

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9791617

* 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
 

$279,000$341,000$310,000

PURCHASE PRICE

$1,233$1,507$1,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,370
EXPENSES Loan Payment -$1,077
Property Tax -$216
Property Insurance -$54
HOA -$11
Property Management Fees -$99
CASH FLOW
-$87

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$310,000

PROJECTED PRICE

$1,370

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 0.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

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 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,077

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$11,837

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,370

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,410

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,275
1$1,2752$1,3703$1,4004$1,6005$1,700
$1,700
RENT COMPS ANALYSIS
  • 18614 N Salerno Court Surprise, AZ 2
    • 2 beds 2 baths ∙ 1,393 Sqft ∙ Built 2002 2 beds 2 baths ∙ 1,393 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $0.98
    •  
  • 18916 N Alameda Drive Surprise, AZ 1
    • 2 beds 2 baths ∙ 1,138 Sqft ∙ Built 2002 2 beds 2 baths ∙ 1,138 Sqft ∙ Built 2002
    property image
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $1.12
    •  
  • 18047 W Buena Vista Drive Surprise, AZ 3
    • 2 beds 2 baths ∙ 1,401 Sqft ∙ Built 2004 2 beds 2 baths ∙ 1,401 Sqft ∙ Built 2004
    property image
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.00
    •  
  • 18643 N Granite Court Surprise, AZ 4
    • 2 beds 2 baths ∙ 1,726 Sqft ∙ Built 2003 2 beds 2 baths ∙ 1,726 Sqft ∙ Built 2003
    property image
    LEASED 01/28/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.93
    •  
  • 17628 W Lotten Drive Surprise, AZ 5
    • 2 beds 2 baths ∙ 1,708 Sqft ∙ Built 2001 2 beds 2 baths ∙ 1,708 Sqft ∙ Built 2001
    property image
    LEASED 09/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.00
    •  
PROPERTY LISTING DETAILS
John Poyner
Phoenix Property Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6207056
Last Updated: 03/14/2021
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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