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24669 N Corn Street Florence, AZ 85132

3 Beds 2 Baths 1,317 sqft Built 2021

$295,990

List Price

$1,190

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
March 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $224.75
  • 1 Days on Market
  • MLS # : 6203786
  • Updated Date : 03/07/2021 at 01:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,317 sqft
  • Baths : 2 full
Listing Agent

Drh Properties Inc

Listing Agent's Description

HOME IS ESTIMATED 4-6 MONTHS TO COMPLETION. This gorgeous brand new home - Gull floor plan - is a single level and has 3 bedrooms, 2 bathrooms and a 2 car garage! The Foyer leads to the kitchen which overlooks the great room and onto the back patio for indoor/outdoor entertaining! This lovely home also features a kitchen island, granite countertops, stainless fridge, washer/dryer, post-tension slab, executive height vanities, Smart Home System, two-toned paint, front yard landscaping, ceramic tile in all common areas and extended into great room, hardwood cabinets, energy star with much more! Community is adorable and has only single levels-No 2 story to the side or overlooking your backyard to worry about!

SEE MORE

PRICE & RENT TRENDS

Zip Code: 85132

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Zip Code: 85132

ZipNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8621567

* 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
Florence High School High Regular 778 41 4

Florence High School

  • Education Level: High
  • # of students: 778
  • # of teachers: 41
4
GreatSchools Rating
 

$266,391$325,589$295,990

PURCHASE PRICE

$1,071$1,309$1,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,190
EXPENSES Loan Payment -$1,028
Property Tax -$156
Property Insurance -$53
HOA -$65
Property Management Fees -$99
CASH FLOW
-$211

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$295,990

PROJECTED PRICE

$1,190

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 8.8%
Maintenance Year (1-5) 3.00%
Vacancy 6.56%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$80,437

INVESTMENT

$80,437

Down Payment
$73,998
Rehab Estimate
$2,000
Closing Costs
$4,440

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,028

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $73,998
Loan Amount $221,993
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$3,715

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
  • $1,269

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,1953$1,1954$1,350
$1,350
RENT COMPS ANALYSIS
  • 24669 N Corn Street Florence, AZ 1
    • 3 beds 2 baths ∙ 1,317 Sqft ∙ Built 2021 3 beds 2 baths ∙ 1,317 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 6775 E Shamrock Street Florence, AZ 2
    • 3 beds 2 baths ∙ 1,301 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,301 Sqft ∙ Built 2007
    property image
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.92
    •  
  • 6703 E San Tan Way Florence, AZ 3
    • 3 beds 2 baths ∙ 1,218 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,218 Sqft ∙ Built 2005
    property image
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.98
    •  
  • 24442 N Shelton Way Florence, AZ 4
    • 3 beds 2 baths ∙ 1,359 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,359 Sqft ∙ Built 2006
    property image
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.99
    •  
PROPERTY LISTING DETAILS
Joseph Paul Ayers
Drh Properties Inc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6203786
Last Updated: 03/07/2021
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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