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20123 W Medlock Drive Litchfield Park, AZ 85340

3 Beds 3 Baths 1,751 sqft Built 1999

$374,500

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $213.88
  • 2 Days on Market
  • MLS # : 6163331
  • Updated Date : 11/20/2020 at 19:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,751 sqft
  • Baths : 2 full , 1 half
Listing Agent

Pro-formance Realty Concepts

Listing Agent's Description

Repairs made and priced to sale. The asking price is firm. Horse property with AMAZING VIEWS of the White Tank Mountains. Located in a county island with NO HOA! This 3Bed 2.5Bath is ready for you! Enjoy outdoor living with a back covered patio and spiral staircase leading to rooftop deck, you will never want to leave. Master bedroom has a private entrance, sliding glass doors, double sinks, separate jetted tub, shower and a walk-in closet. Back patio is also accessed through sliding glass doors in the living room and private entrance from the guest room. The 2nd bath is en-suite to the guest room and hallway. This home is perfect for multi-generational families. Granite countertops and 10ft soaring ceilings this property won't last long.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Beautiful Arizona Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $122k362k

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

Neighborhood: Beautiful Arizona Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10451981

* 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
Verrado Elementary School Primary Regular 897 39 8
Verrado Elementary School Middle Regular 897 39 8
Verrado High School High Regular 1,855 74 4

Verrado Elementary School

  • Education Level: Primary
  • # of students: 897
  • # of teachers: 39
8
GreatSchools Rating

Verrado Elementary School

  • Education Level: Middle
  • # of students: 897
  • # of teachers: 39
8
GreatSchools Rating

Verrado High School

  • Education Level: High
  • # of students: 1,855
  • # of teachers: 74
4
GreatSchools Rating
 

$337,050$411,950$374,500

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$1,382
Property Tax -$299
Property Insurance -$61
Property Management Fees -$99
CASH FLOW
-$361

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.

$374,500

PROJECTED PRICE

$1,480

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.9%
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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$104,993

INVESTMENT

$104,993

Down Payment
$93,625
Rehab Estimate
$5,750
Closing Costs
$5,618

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,382

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,625
Loan Amount $280,875
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$2,362

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,580

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,480
1$1,4802$1,7503$1,7954$1,8955$1,895
$1,895
RENT COMPS ANALYSIS
  • 20123 W Medlock Drive Litchfield Park, AZ 1
    • 3 beds 3 baths ∙ 1,751 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,751 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.85
    •  
  • 19740 W Devonshire Avenue Litchfield Park, AZ 2
    • 4 beds 3 baths ∙ 1,943 Sqft ∙ Built 2018 4 beds 3 baths ∙ 1,943 Sqft ∙ Built 2018
    LEASED 08/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.90
    •  
  • 19890 W Devonshire Avenue Litchfield Park, AZ 3
    • 4 beds 3 baths ∙ 2,100 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,100 Sqft ∙ Built 2019
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.85
    •  
  • 19874 W Devonshire Avenue Litchfield Park, AZ 4
    • 4 beds 2 baths ∙ 2,094 Sqft ∙ Built 2019 4 beds 2 baths ∙ 2,094 Sqft ∙ Built 2019
    LEASED 09/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.90
    •  
  • 19879 W Devonshire Avenue Litchfield Park, AZ 5
    • 4 beds 3 baths ∙ 1,968 Sqft ∙ Built 2019 4 beds 3 baths ∙ 1,968 Sqft ∙ Built 2019
    LEASED 10/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.96
    •  
PROPERTY LISTING DETAILS
Melissa Loran
Pro-formance Realty Concepts
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6163331
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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