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18898 E Kingbird Drive Queen Creek, AZ 85142

5 Beds 3 Baths 2,545 sqft Built 2005

$409,500

List Price

$2,090

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $160.90
  • 4 Days on Market
  • MLS # : 6160957
  • Updated Date : 11/20/2020 at 12:22
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,545 sqft
  • Baths : 3 full
Listing Agent

Century 21 Arizona Foothills

Listing Agent's Description

Welcome home to Cortina! Come see a spacious 5 bedroom, 3 bath, 3 car garage home. Well-maintained and sits on an oversized lot. Greenbelt borders on two sides. Mature trees and lush grass in the backyard, low-maintenance landscaping in the front yard. High ceilings and a large living room welcome you through the front door. A full bathroom and guest bedroom sit on the first floor. Wander further inside to find the open, eat-in kitchen and large family room. The tiled kitchen is outfitted w/matching LG SS appliances including a gas stove w/split oven, built-in microwave, dishwasher, plumbed refrigerator, and RO system. In the family room, surround sound is ready to connect to your A/V components. The French doors lead out to a covered patio outfitted w/ceiling fans.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Cortina

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $122k364k

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

Neighborhood: Cortina

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9911981

* 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
Cortina Elementary School Primary Regular 947 42 10
Cortina Elementary School Middle Regular 947 42 10
Higley High School High Regular 1,596 70 7

Cortina Elementary School

  • Education Level: Primary
  • # of students: 947
  • # of teachers: 42
10
GreatSchools Rating

Cortina Elementary School

  • Education Level: Middle
  • # of students: 947
  • # of teachers: 42
10
GreatSchools Rating

Higley High School

  • Education Level: High
  • # of students: 1,596
  • # of teachers: 70
7
GreatSchools Rating
 

$368,550$450,450$409,500

PURCHASE PRICE

$1,881$2,299$2,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,090
EXPENSES Loan Payment -$1,511
Property Tax -$332
Property Insurance -$77
HOA -$30
Property Management Fees -$99
CASH FLOW
$41

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.

$409,500

PROJECTED PRICE

$2,090

PROJECTED RENT

0.51%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$114,268

INVESTMENT

$114,268

Down Payment
$102,375
Rehab Estimate
$5,750
Closing Costs
$6,143

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,511

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $102,375
Loan Amount $307,125
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$30,743

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,090

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,259

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,0903$2,1754$2,2505$2,500
$2,500
RENT COMPS ANALYSIS
  • 18898 E Kingbird Drive Queen Creek, AZ 2
    • 5 beds 3 baths ∙ 2,545 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,545 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $0.82
    •  
  • 19042 E Swan Drive Queen Creek, AZ 1
    • 4 beds 3 baths ∙ 2,308 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,308 Sqft ∙ Built 2009
    LEASED 11/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.86
    •  
  • 18974 E Lark Drive Queen Creek, AZ 3
    • 4 beds 3 baths ∙ 2,545 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,545 Sqft ∙ Built 2006
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $0.85
    •  
  • 18663 E Lark Drive Queen Creek, AZ 4
    • 5 beds 3 baths ∙ 2,545 Sqft ∙ Built 2004 5 beds 3 baths ∙ 2,545 Sqft ∙ Built 2004
    LEASED 08/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.88
    •  
  • 18866 E Cardinal Way Queen Creek, AZ 5
    • 4 beds 2 baths ∙ 2,592 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,592 Sqft ∙ Built 2006
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.96
    •  
PROPERTY LISTING DETAILS
Leslee M Wilson
Century 21 Arizona Foothills
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6160957
Last Updated: 11/20/2020
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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