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23718 S Illinois Avenue Sun Lakes, AZ 85248

2 Beds 2 Baths 2,272 sqft Built 2005

$525,000

List Price

$2,440

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $231.07
  • 2 Days on Market
  • MLS # : 6187826
  • Updated Date : 01/30/2021 at 16:27
CONSTRUCTION
  • Beds : 2
  • Floor Size : 2,272 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Sonoran

Listing Agent's Description

HIGHLY UPGRADED SIENNA Model w/ GORGEOUS MOUNTAIN VIEW in the GATED, ADULT community of Oakwood! GREAT LAYOUT w/ Great Room, 2 Bedrooms, 2 Baths & Den. The NEWLY REMODELED Kitchen has WHITE DISTRESSED cabinets, GRANITE counters & 2018 STAINLESS Appliances. Spacious Master SUITE w/ MASSIVE WALK-IN CLOSET & SEPARATE VANITIES. The 2nd Bedroom has a WALK-IN CLOSET & REMODELED BATH TOO! Extra Storage Space in the Laundry Room & 2-Car Garage. You will enjoy BREATH-TAKING SUNSETS while ENTERTAINING or RELAXING on the EXTENDED COVERED, PAVER PATIO. Don't miss this amazing opportunity to COME ENJOY THE GOOD LIFE in Sun Lakes w/ this GORGEOUS HOME & Community Amenities like: golf, tennis, pickleball, pools, fitness center, clubs, social activities, restaurants & so much more!

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
Bogle Junior High School Middle Regular 1,225 56 8
Hamilton High School High Regular 3,740 190 8

Bogle Junior High School

  • Education Level: Middle
  • # of students: 1,225
  • # of teachers: 56
8
GreatSchools Rating

Hamilton High School

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

$472,500$577,500$525,000

PURCHASE PRICE

$2,196$2,684$2,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,440
EXPENSES Loan Payment -$1,824
Property Tax -$358
Property Insurance -$71
HOA -$30
Property Management Fees -$99
CASH FLOW
$57

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.

$525,000

PROJECTED PRICE

$2,440

PROJECTED RENT

0.46%

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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$144,875

INVESTMENT

$144,875

Down Payment
$131,250
Rehab Estimate
$5,750
Closing Costs
$7,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,824

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $131,250
Loan Amount $393,750
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$34,048

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
  • $2,715

    COMP ESTIMATED VALUE
  • $1.2

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,0003$2,4004$2,5955$3,000
$3,000
RENT COMPS ANALYSIS
  • 23718 S Illinois Avenue Sun Lakes, AZ 1
    • 2 beds 2 baths ∙ 2,272 Sqft ∙ Built 2005 2 beds 2 baths ∙ 2,272 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 9617 E Eddystone Court Sun Lakes, AZ 2
    • 2 beds 2 baths ∙ 1,922 Sqft ∙ Built 1986 2 beds 2 baths ∙ 1,922 Sqft ∙ Built 1986
    LEASED 12/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.04
    •  
  • 24111 S Agate Drive Sun Lakes, AZ 3
    • 2 beds 2 baths ∙ 2,123 Sqft ∙ Built 2000 2 beds 2 baths ∙ 2,123 Sqft ∙ Built 2000
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.13
    •  
  • 23613 S Illinois Avenue Sun Lakes, AZ 4
    • 2 beds 3 baths ∙ 2,086 Sqft ∙ Built 2003 2 beds 3 baths ∙ 2,086 Sqft ∙ Built 2003
    LEASED 06/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $1.24
    •  
  • 24118 S Lakestar Drive Sun Lakes, AZ 5
    • 2 beds 2 baths ∙ 2,187 Sqft ∙ Built 2004 2 beds 2 baths ∙ 2,187 Sqft ∙ Built 2004
    LEASED 01/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.37
    •  
PROPERTY LISTING DETAILS
Charlotte Young
Keller Williams Realty Sonoran
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6187826
Last Updated: 01/30/2021
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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