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1924 W Road Agent Street Apache Junction, AZ 85120

3 Beds 3 Baths 1,989 sqft Built 2018

INVESTimate

$292,800

List Price

$1,700

$1,530 - $1,870

Rent Est.

$318,918  ( +8.92%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 2018
  • Price/Sqft : $147.21
  • 2 Days on Market
  • MLS # : 6122400
  • Updated Date : 08/25/2020 at 21:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,989 sqft
  • Baths : 2 full , 1 half
Listing Agent

Long Realty Partners

Listing Agent's Description

SUPER CUTE 3 BR PLUS A LOFT HOME IN GATED COMMUNITY-VIRTUALLY BRAND NEW! VERY PRIVATE CORNER LOT GREETS YOU AT THE CURB AND THE LOW MAINTENANCE LANDSCAPING REALLY CATCHES YOUR EYE. THE CUSTOM BUILT SECURITY DOOR ALLOWS FOR SECURITY, YET ABLE TO LEAVE OPEN ON COOL DAYS. BEAUTIFUL 20'' TILE IN THE ENTIRE DOWNSTAIRS AND CHEF'S DELIGHT GOURMET KITCHEN WITH 40'' HIGHLY UPGRADED CABINETS, STAINLESS STEEL APPLIANCES, SPACIOUS BREAKFAST BAR AND TONS OF GRANITE . THE UPGRADED PILLARED RAILING LEADS YOU UPSTAIRS YOU WILL FIND A ROOMY LOFT, PERFECT FOR TV WATCHING/OFFICE/SITTING AREA. MASTER SUITE OFFERS 2 CLOSETS (1 BEING USED AS OFFICE AND WOULD BE CONVERTED BACK IF DESIRED) HIS AND HER SINKS AND HUGE WALKIN SHOWER. OUT BACK YOU FIND COVERED PATIO, ARTIFICIAL GRASS AND MTN VIEWS.

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PRICE & RENT TRENDS

Neighborhood: Apache Junction

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: Apache Junction

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8621567

* 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
Four Peaks Elementary School Primary Regular 686 37 6
Four Peaks Elementary School Middle Regular 686 37 6
Apache Junction High School High Regular 1,304 69 3

Four Peaks Elementary School

  • Education Level: Primary
  • # of students: 686
  • # of teachers: 37
6
GreatSchools Rating

Four Peaks Elementary School

  • Education Level: Middle
  • # of students: 686
  • # of teachers: 37
6
GreatSchools Rating

Apache Junction High School

  • Education Level: High
  • # of students: 1,304
  • # of teachers: 69
3
GreatSchools Rating
 

$263,520$322,080$292,800

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

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$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,080
Property Tax -$183
Property Insurance -$66
HOA -$95
Property Management Fees -$99
CASH FLOW
$176

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.

$292,800

PROJECTED PRICE

$1,700

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 8.92%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,342

INVESTMENT

$83,342

Down Payment
$73,200
Rehab Estimate
$5,750
Closing Costs
$4,392

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,080

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,200
Loan Amount $219,600
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$38,526

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
  • $1,711

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,4503$1,5954$1,695
$1,695
RENT COMPS ANALYSIS
  • 1924 W Road Agent Street Apache Junction, 1
    • 3 beds 3 baths ∙ 1,989 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,989 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 660 S Lawson Drive Apache Junction, 2
    • 3 beds 2 baths ∙ 1,657 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,657 Sqft ∙ Built 2006
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.88
    •  
  • 11401 E Ellis Street Mesa, 3
    • 3 beds 2 baths ∙ 1,783 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,783 Sqft ∙ Built 2003
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.89
    •  
  • 11018 E Cholla Road Mesa, 4
    • 4 beds 2 baths ∙ 2,085 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,085 Sqft ∙ Built 2004
    LEASED 09/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.81
    •  
PROPERTY LISTING DETAILS
Doug Coats
Long Realty Partners
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6122400
Last Updated: 08/25/2020
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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