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2300 E Magma Road #104 San Tan Valley, AZ 85143

3 Beds 2 Baths 1,158 sqft Built 2004

$158,000

List Price

$890

$801 - $979

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $136.44
  • 4 Days on Market
  • MLS # : 6156460
  • Updated Date : 11/05/2020 at 11:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,158 sqft
  • Baths : 2 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

WOW! This 3 bedroom and 2 bath home in Superstition Views, has been waiting for you! The spacious front room is perfect for entertaining, or just relaxing on your own. The first of three bedrooms which sits just off the front door is perfect for den, a home office or a bedroom (with a closet)! The kitchen has all the modern amenities with convenient access to the indoor laundry room / pantry! The primary bedroom has more than enough room for you and features a large walk-in closet! Sit under the shaded patio in your new private backyard at the end of the day. Don't miss this charming home!

SEE MORE

PRICE & RENT TRENDS

Zip Code: 85143

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $109k271k

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

Zip Code: 85143

ZipNIR Market*CityMarket2010Year20002019 Q210501100115012001250130013501400145015001550Rent in $10181567

* 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
Walker Butte K-8 School Primary Regular 913 51 4
Walker Butte K-8 School Middle Regular 913 51 4
Poston Butte High School High Regular 1,801 79 4

Walker Butte K-8 School

  • Education Level: Primary
  • # of students: 913
  • # of teachers: 51
4
GreatSchools Rating

Walker Butte K-8 School

  • Education Level: Middle
  • # of students: 913
  • # of teachers: 51
4
GreatSchools Rating

Poston Butte High School

  • Education Level: High
  • # of students: 1,801
  • # of teachers: 79
4
GreatSchools Rating
 

$142,200$173,800$158,000

PURCHASE PRICE

$801$979$890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $890
EXPENSES Loan Payment -$583
Property Tax -$83
Property Insurance -$50
HOA -$95
Property Management Fees -$99
CASH FLOW
-$20

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.

$158,000

PROJECTED PRICE

$890

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 7.7%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$47,620

INVESTMENT

$47,620

Down Payment
$39,500
Rehab Estimate
$5,750
Closing Costs
$2,370

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$583

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $39,500
Loan Amount $118,500
See What Happens When You Reinvest Cash Flow

4.83

YEARS SAVED

$8,926

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $890

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $973

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$890
1$8902$1,0003$1,1504$1,2005$1,250
$1,250
RENT COMPS ANALYSIS
  • 2300 E Magma Road #104 San Tan Valley, AZ 1
    • 3 beds 2 baths ∙ 1,158 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,158 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $890
    • $0.77
    •  
  • 2300 E Magma Road #59 Queen Creek, AZ 2
    • 3 beds 2 baths ∙ 1,157 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,157 Sqft ∙ Built 2005
    LEASED 08/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $0.86
    •  
  • 2685 E Olivine Road San Tan Valley, AZ 3
    • 3 beds 2 baths ∙ 1,424 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,424 Sqft ∙ Built 2003
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.81
    •  
  • 29139 N Pyrite Lane San Tan Valley, AZ 4
    • 4 beds 2 baths ∙ 1,471 Sqft ∙ Built 2008 4 beds 2 baths ∙ 1,471 Sqft ∙ Built 2008
    LEASED 08/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.82
    •  
  • 28668 N Rainfall Drive San Tan Valley, AZ 5
    • 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 2006
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.87
    •  
PROPERTY LISTING DETAILS
George Laughton
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6156460
Last Updated: 11/05/2020
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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