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23612 S Illinois Avenue Sun Lakes, AZ 85248

3 Beds 2 Baths 1,909 sqft Built 2003

$415,000

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $217.39
  • 3 Days on Market
  • MLS # : 6163015
  • Updated Date : 11/20/2020 at 12:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,909 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Integrity First

Listing Agent's Description

Beautiful 3 Bedroom/ 2 Bath split floor plan home. Kitchen is open w/granite counter tops, Kitchen Island and Pantry. Spacious Master Bedroom, double sinks, upgraded shower and large walk-in closet. Large laundry room. Enjoy the beautiful weather outside in the serene backyard w/extended covered patio.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Sun Lakes

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $122k377k

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

Neighborhood: Sun Lakes

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
Jacobson Elementary School Primary Regular 889 41 9
Jacobson Elementary School Middle Regular 889 41 9
Hamilton High School High Regular 3,740 190 8

Jacobson Elementary School

  • Education Level: Primary
  • # of students: 889
  • # of teachers: 41
9
GreatSchools Rating

Jacobson Elementary School

  • Education Level: Middle
  • # of students: 889
  • # of teachers: 41
9
GreatSchools Rating

Hamilton High School

  • Education Level: High
  • # of students: 3,740
  • # of teachers: 190
8
GreatSchools Rating
 

$373,500$456,500$415,000

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$1,531
Property Tax -$375
Property Insurance -$64
HOA -$30
Property Management Fees -$99
CASH FLOW
-$160

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.

$415,000

PROJECTED PRICE

$1,940

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.8%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,725

INVESTMENT

$115,725

Down Payment
$103,750
Rehab Estimate
$5,750
Closing Costs
$6,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,531

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $103,750
Loan Amount $311,250
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$13,866

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $2,171

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9403$2,0004$2,1955$2,295
$2,295
RENT COMPS ANALYSIS
  • 23612 S Illinois Avenue Sun Lakes, AZ 2
    • 3 beds 2 baths ∙ 1,909 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,909 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $1.02
    •  
  • 1893 W Canyon Way Chandler, AZ 1
    • 4 beds 2 baths ∙ 1,803 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,803 Sqft ∙ Built 1999
    property image
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.05
    •  
  • 4621 S Greythorne Way Chandler, AZ 3
    • 4 beds 2 baths ∙ 1,803 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,803 Sqft ∙ Built 1999
    property image
    LEASED 09/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.11
    •  
  • 3954 S Sage Drive Chandler, AZ 4
    • 4 beds 2 baths ∙ 1,961 Sqft ∙ Built 1997 4 beds 2 baths ∙ 1,961 Sqft ∙ Built 1997
    property image
    LEASED 06/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.12
    •  
  • 1903 W Canyon Way Chandler, AZ 5
    • 4 beds 2 baths ∙ 1,803 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,803 Sqft ∙ Built 1999
    property image
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.27
    •  
PROPERTY LISTING DETAILS
Ryan Loeding
Keller Williams Integrity First
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6163015
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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