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24825 S Ribbonwood Drive Sun Lakes, AZ 85248

3 Beds 3 Baths 2,300 sqft Built 1994

$525,000

List Price

$2,130

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $228.26
  • 2 Days on Market
  • MLS # : 6197011
  • Updated Date : 02/20/2021 at 13:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,300 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Realty Sonoran

Listing Agent's Description

VERY DESIRABLE BARCELONA floor plan w/ CASITA, 2 CAR + GOLF CART GARAGE, NEWER HVACs, WATER SOFTENER & SPECTACULAR GOLF COURSE VIEW in the GATED, ADULT community of Ironwood! A Gated Courtyard leads to the Main House or Separate Casita w/ its own Bedroom, Bath & Walk-In Closet! In the main house, enter into the Great Room w/ VAULTED CEILINGS & TONS OF NATURAL LIGHT. The Eat-In Kitchen has refinished cabinets, Corian counters & RO. The HUGE Master Suite w/ sitting area has a MASSIVE WALK-IN CLOSET & separate tub/shower. Guest Bedroom & Full Guest Bath in the man house also. Relax on the East-facing, extended patio w/ low maintenance landscaping & DOUBLE FAIRWAY VIEW! Plus GREAT SUN LAKES AMENITIES like: golf, tennis, pickleball, pools, fitness center, clubs, social activities & restaurants!

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

$1,917$2,343$2,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,130
EXPENSES Loan Payment -$1,824
Property Tax -$358
Property Insurance -$72
HOA -$30
Property Management Fees -$99
CASH FLOW
-$253

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

$2,130

PROJECTED RENT

0.41%

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

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$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 55% 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

2.75

YEARS SAVED

$11,554

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
  • $2,312

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,9503$2,2954$2,2955$2,395
$2,395
RENT COMPS ANALYSIS
  • 24825 S Ribbonwood Drive Sun Lakes, AZ 1
    • 3 beds 3 baths ∙ 2,300 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,300 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 245 W Teakwood Place Chandler, AZ 2
    • 3 beds 2 baths ∙ 2,134 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,134 Sqft ∙ Built 2000
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.91
    •  
  • 120 W Birchwood Place Chandler, AZ 3
    • 3 beds 2 baths ∙ 2,134 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,134 Sqft ∙ Built 2000
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.08
    •  
  • 10713 E Arrowvale Drive Sun Lakes, AZ 4
    • 3 beds 3 baths ∙ 2,302 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,302 Sqft ∙ Built 1992
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.00
    •  
  • 865 W Beechnut Drive Chandler, AZ 5
    • 4 beds 2 baths ∙ 2,317 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,317 Sqft ∙ Built 1997
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.03
    •  
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 #: 6197011
Last Updated: 02/20/2021
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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