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2301 W Renaissance Avenue Apache Junction, AZ 85120

2 Beds 2 Baths 895 sqft Built 1998

$255,000

List Price

$910

$819 - $1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $284.92
  • 2 Days on Market
  • MLS # : 6202470
  • Updated Date : 03/06/2021 at 19:19
CONSTRUCTION
  • Beds : 2
  • Floor Size : 895 sqft
  • Baths : 2 full
Listing Agent

Elite Results Realty

Listing Agent's Description

Incredible move in ready low maintenance home with a modern open floor plan! Home has been updated with new vinyl plank flooring, fresh carpet, and new fixtures throughout. Kitchen features new cabinets, granite counters, and stainless steel appliances. New custom designer paint inside and out! Home is situated on a premium lot with a private backyard. Close to the 60 and 202 freeways. This move in ready home will not last at this price!

SEE MORE

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
Cactus Canyon Junior High School Middle Regular 780 40 4
Apache Junction High School High Regular 1,304 69 3

Cactus Canyon Junior High School

  • Education Level: Middle
  • # of students: 780
  • # of teachers: 40
4
GreatSchools Rating

Apache Junction High School

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

$229,500$280,500$255,000

PURCHASE PRICE

$819$1,001$910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $910
EXPENSES Loan Payment -$886
Property Tax -$151
Property Insurance -$45
HOA -$6
Property Management Fees -$99
CASH FLOW
-$277

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.

$255,000

PROJECTED PRICE

$910

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 8.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$886

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$747

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
  • $895

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$6953$7004$1,1505$1,250
$1,250
RENT COMPS ANALYSIS
  • 2301 W Renaissance Avenue Apache Junction, AZ 1
    • 2 beds 2 baths ∙ 895 Sqft ∙ Built 1998 2 beds 2 baths ∙ 895 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1800 S Monterey Drive #1 Apache Junction, AZ 2
    • 2 beds 2 baths ∙ 675 Sqft ∙ Built 1982 2 beds 2 baths ∙ 675 Sqft ∙ Built 1982
    property image
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $695
    • $1.03
    •  
  • 111 S Outpost Road #1 Apache Junction, AZ 3
    • 2 beds 1 baths ∙ 731 Sqft ∙ Built 1983 2 beds 1 baths ∙ 731 Sqft ∙ Built 1983
    property image
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $700
    • $0.96
    •  
  • 1924 W 13th Avenue Apache Junction, AZ 4
    • 2 beds 2 baths ∙ 1,174 Sqft ∙ Built 1982 2 beds 2 baths ∙ 1,174 Sqft ∙ Built 1982
    property image
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.98
    •  
  • 1968 W 13th Avenue Apache Junction, AZ 5
    • 2 beds 2 baths ∙ 1,211 Sqft ∙ Built 1981 2 beds 2 baths ∙ 1,211 Sqft ∙ Built 1981
    property image
    LEASED 11/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.03
    •  
PROPERTY LISTING DETAILS
Rob Hale
Elite Results Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6202470
Last Updated: 03/06/2021
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. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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