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2408 N Petersburg Drive Florence, AZ 85132

3 Beds 2 Baths 1,800 sqft Built 2016

INVESTimate

$278,000

List Price

$1,350

$1,215 - $1,485

Rent Est.

$291,372  ( +4.81%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 2016
  • Price/Sqft : $154.44
  • 3 Days on Market
  • MLS # : 6121880
  • Updated Date : 08/25/2020 at 17:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,800 sqft
  • Baths : 2 full
Listing Agent

New West Realty

Listing Agent's Description

Incredible 3 bed/2 bath Florence home available in prestigious Merrill Ranch. Excellent community with superb amenities including a pool, splash pad, playground, golf, clubhouse, workout facility and much more. Impressive interior boasts a spacious great room floor plan and tasteful finishes throughout. High ceilings, plantation shutters, custom paint tones and beautiful tile flooring in all of the right places. Inviting living area is enhanced with a built in entertainment center. Designed for entertaining the open kitchen boasts granite countertops, ss appliances, and an island with breakfast bar. Master retreat includes a walk in closet and a full en-suite with dual sinks and a separate soaking tub and shower. Low maintenance backyard is complete with a covered patio. See it today.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Anthem at Merrill Ranch

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $109k271k

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

Neighborhood: Anthem at Merrill Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8971567

* 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
Anthem K-8 School Primary Regular 826 37 4
Anthem K-8 School Middle Regular 826 37 4
Anthem K-8 School High Regular 826 37 4

Anthem K-8 School

  • Education Level: Primary
  • # of students: 826
  • # of teachers: 37
4
GreatSchools Rating

Anthem K-8 School

  • Education Level: Middle
  • # of students: 826
  • # of teachers: 37
4
GreatSchools Rating

Anthem K-8 School

  • Education Level: High
  • # of students: 826
  • # of teachers: 37
4
GreatSchools Rating
 

$250,200$305,800$278,000

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

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$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$1,026
Property Tax -$150
Property Insurance -$62
HOA -$134
Property Management Fees -$99
CASH FLOW
-$121

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.

$278,000

PROJECTED PRICE

$1,350

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 4.81%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,420

INVESTMENT

$79,420

Down Payment
$69,500
Rehab Estimate
$5,750
Closing Costs
$4,170

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,026

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,500
Loan Amount $208,500
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$9,275

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,458

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,3503$1,3504$1,4505$1,450
$1,450
RENT COMPS ANALYSIS
  • 2408 N Petersburg Drive Florence, 3
    • 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.75
    •  
  • 8011 W Georgetown Way Florence, 1
    • 4 beds 3 baths ∙ 1,693 Sqft ∙ Built 2008 4 beds 3 baths ∙ 1,693 Sqft ∙ Built 2008
    LEASED 10/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.76
    •  
  • 7576 W Millerton Way Florence, 2
    • 4 beds 2 baths ∙ 1,778 Sqft ∙ Built 2008 4 beds 2 baths ∙ 1,778 Sqft ∙ Built 2008
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.76
    •  
  • 2300 N Brigadier Drive Florence, 4
    • 4 beds 2 baths ∙ 1,778 Sqft ∙ Built 2008 4 beds 2 baths ∙ 1,778 Sqft ∙ Built 2008
    LEASED 11/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.82
    •  
  • 2313 N Pecos Drive Florence, 5
    • 3 beds 2 baths ∙ 1,606 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,606 Sqft ∙ Built 2006
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.90
    •  
PROPERTY LISTING DETAILS
Raymond Remstedt
New West Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6121880
Last Updated: 08/25/2020
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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