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2323 S 173rd Drive Goodyear, AZ 85338

3 Beds 2 Baths 1,510 sqft Built 2003

$290,000

List Price

$1,280

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

November 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $192.05
  • 5 Days on Market
  • MLS # : 6161993
  • Updated Date : 11/18/2020 at 20:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,510 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

3 bedrooms 2 bathrooms, front facing kitchen. large great room, master bedroom with walk-in-closet, separate shower/tub. Oversized back yard fully landscaped with a full length covered patio. Conveniently located close to shopping, dining and easy freeway access.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Cottonflower

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $96k302k

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

Neighborhood: Cottonflower

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600Rent in $9031646

* 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
Centerra Mirage Stem Academy Primary Regular 569 24 4
Centerra Mirage Stem Academy Middle Regular 569 24 4
Verrado High School High Regular 1,855 74 4

Centerra Mirage Stem Academy

  • Education Level: Primary
  • # of students: 569
  • # of teachers: 24
4
GreatSchools Rating

Centerra Mirage Stem Academy

  • Education Level: Middle
  • # of students: 569
  • # of teachers: 24
4
GreatSchools Rating

Verrado High School

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

$261,000$319,000$290,000

PURCHASE PRICE

$1,152$1,408$1,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,280
EXPENSES Loan Payment -$1,070
Property Tax -$224
Property Insurance -$57
HOA -$19
Property Management Fees -$99
CASH FLOW
-$189

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.

$290,000

PROJECTED PRICE

$1,280

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.5%
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$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$6,326

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,280

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,408

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,280
1$1,2802$1,3503$1,4504$1,4755$1,490
$1,490
RENT COMPS ANALYSIS
  • 2323 S 173rd Drive Goodyear, AZ 1
    • 3 beds 2 baths ∙ 1,510 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,510 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,280
    • $0.85
    •  
  • 17121 W Elizabeth Avenue Goodyear, AZ 2
    • 3 beds 2 baths ∙ 1,446 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,446 Sqft ∙ Built 2003
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.93
    •  
  • 1997 S 172nd Avenue Goodyear, AZ 3
    • 3 beds 2 baths ∙ 1,599 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,599 Sqft ∙ Built 2003
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.91
    •  
  • 1661 S 171st Drive Goodyear, AZ 4
    • 3 beds 2 baths ∙ 1,527 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,527 Sqft ∙ Built 2002
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.97
    •  
  • 17027 W Mohave Street Goodyear, AZ 5
    • 3 beds 2 baths ∙ 1,623 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,623 Sqft ∙ Built 2012
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.92
    •  
PROPERTY LISTING DETAILS
Jose Santiago Morales
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6161993
Last Updated: 11/18/2020
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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