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23050 N 87th Avenue Peoria, AZ 85383

4 Beds 3 Baths 2,827 sqft Built 2001

$570,000

List Price

$2,910

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $201.63
  • 2 Days on Market
  • MLS # : 6179044
  • Updated Date : 01/09/2021 at 16:54
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,827 sqft
  • Baths : 2 full , 1 half
Listing Agent

Service Star Realty

Listing Agent's Description

Truly Spectacular, Inside and Out!!! Expansive Living Spaces, high ceilings, great natural light, split floor plan in this 2,827sqft, 4BR, 2.5BA beauty on just under half an acre. Three-car garage, Huge rolling RV Gate, Enough RV parking for the big one and all the toys, NO HOA. This is Southwest Living at its finest with the modern touch of Solar Electricity. Solid wood doors, beautiful tile throughout, New Carpet (11/20) in bedrooms, lots of closet and storage space. Huge Master with separate exit to covered patio, Master Bath has separate tub, shower, toilet room. Fireplace in Living Room runs on propane. Several options for home office(s). Front landscaping is Sanoran with two mature mesquite trees giving ample shade and privacy, big trees in back, too. Storage shed included.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Willow

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $122k403k

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

Neighborhood: Willow

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10452046

* 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
Frontier Elementary School Primary Regular 944 44 9
Frontier Elementary School Middle Regular 944 44 9
Sunrise Mountain High School High Regular 1,675 72 7

Frontier Elementary School

  • Education Level: Primary
  • # of students: 944
  • # of teachers: 44
9
GreatSchools Rating

Frontier Elementary School

  • Education Level: Middle
  • # of students: 944
  • # of teachers: 44
9
GreatSchools Rating

Sunrise Mountain High School

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

$513,000$627,000$570,000

PURCHASE PRICE

$2,619$3,201$2,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,910
EXPENSES Loan Payment -$1,980
Property Tax -$393
Property Insurance -$82
Property Management Fees -$99
CASH FLOW
$356

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.

$570,000

PROJECTED PRICE

$2,910

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.3%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$156,800

INVESTMENT

$156,800

Down Payment
$142,500
Rehab Estimate
$5,750
Closing Costs
$8,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,980

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $142,500
Loan Amount $427,500
See What Happens When You Reinvest Cash Flow

8.58

YEARS SAVED

$66,507

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,910

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $2,594

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$2,349
1$2,3492$2,3503$2,4004$2,9105$3,000
$3,000
RENT COMPS ANALYSIS
  • 23050 N 87th Avenue Peoria, AZ 4
    • 4 beds 3 baths ∙ 2,827 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,827 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $2,910
    • $1.03
    •  
  • 8611 W Alex Avenue Peoria, AZ 1
    • 4 beds 3 baths ∙ 3,050 Sqft ∙ Built 1998 4 beds 3 baths ∙ 3,050 Sqft ∙ Built 1998
    LEASED 11/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,349
    • $0.77
    •  
  • 8237 W Quail Avenue Peoria, AZ 2
    • 4 beds 3 baths ∙ 2,512 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,512 Sqft ∙ Built 1999
    LEASED 08/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.94
    •  
  • 22406 N 78th Drive Peoria, AZ 3
    • 5 beds 3 baths ∙ 2,512 Sqft ∙ Built 2001 5 beds 3 baths ∙ 2,512 Sqft ∙ Built 2001
    LEASED 01/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.96
    •  
  • 9361 W Daley Lane Peoria, AZ 5
    • 4 beds 4 baths ∙ 3,003 Sqft ∙ Built 2018 4 beds 4 baths ∙ 3,003 Sqft ∙ Built 2018
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.00
    •  
PROPERTY LISTING DETAILS
Richard Noeltner
Service Star Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6179044
Last Updated: 01/09/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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