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20014 N 98th Lane Peoria, AZ 85382

2 Beds 2 Baths 1,408 sqft Built 1989

$299,000

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1989
  • Price/Sqft : $212.36
  • 3 Days on Market
  • MLS # : 6157327
  • Updated Date : 11/07/2020 at 17:08
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,408 sqft
  • Baths : 2 full
Listing Agent

Lund Realty, Llc

Listing Agent's Description

Beautiful home in the luxury adult community of ''Westbrook Village'' . Open floor plan, neutral colors that allow your creativity in furnishings to shine through, vaulted ceilings, 2 bedrooms, 2 baths plus a quaint office. Tile Roof. Enjoy the Arizona sunset in this beautiful community! This won't last long!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Quail Ridge at Westbrook Village

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $109k289k

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

Neighborhood: Quail Ridge at Westbrook Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9271793

* 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
Apache Elementary School Primary Regular 756 38 8
Apache Elementary School Middle Regular 756 38 8
Sunrise Mountain High School High Regular 1,675 72 7

Apache Elementary School

  • Education Level: Primary
  • # of students: 756
  • # of teachers: 38
8
GreatSchools Rating

Apache Elementary School

  • Education Level: Middle
  • # of students: 756
  • # of teachers: 38
8
GreatSchools Rating

Sunrise Mountain High School

  • Education Level: High
  • # of students: 1,675
  • # of teachers: 72
7
GreatSchools Rating
 

$269,100$328,900$299,000

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 -$1,103
Property Tax -$163
Property Insurance -$55
HOA -$4
Property Management Fees -$99
CASH FLOW
-$74

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.

$299,000

PROJECTED PRICE

$1,350

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 5.9%
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$200k$400k$600k$800k

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$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,103

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$15,931

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,341

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,275
1$1,2752$1,3503$1,3954$1,4505$1,475
$1,475
RENT COMPS ANALYSIS
  • 20014 N 98th Lane Peoria, AZ 2
    • 2 beds 2 baths ∙ 1,408 Sqft ∙ Built 1989 2 beds 2 baths ∙ 1,408 Sqft ∙ Built 1989
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.96
    •  
  • 19850 N Turquoise Hills Drive Sun City, AZ 1
    • 2 beds 2 baths ∙ 1,416 Sqft ∙ Built 1976 2 beds 2 baths ∙ 1,416 Sqft ∙ Built 1976
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $0.90
    •  
  • 9127 W Menadota Drive Peoria, AZ 3
    • 2 beds 2 baths ∙ 1,534 Sqft ∙ Built 1994 2 beds 2 baths ∙ 1,534 Sqft ∙ Built 1994
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.91
    •  
  • 20023 N 98th Avenue Peoria, AZ 4
    • 2 beds 2 baths ∙ 1,461 Sqft ∙ Built 1988 2 beds 2 baths ∙ 1,461 Sqft ∙ Built 1988
    property image
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.99
    •  
  • 9833 W Menadota Drive Peoria, AZ 5
    • 2 beds 2 baths ∙ 1,461 Sqft ∙ Built 1988 2 beds 2 baths ∙ 1,461 Sqft ∙ Built 1988
    property image
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $1.01
    •  
PROPERTY LISTING DETAILS
Tom Taylor
Lund Realty, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6157327
Last Updated: 11/07/2020
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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