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2544 W Mericrest Way Queen Creek, AZ 85142

3 Beds 2 Baths 1,799 sqft Built 2003

$275,000

List Price

$1,250

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $152.86
  • 2 Days on Market
  • MLS # : 6155092
  • Updated Date : 11/02/2020 at 11:35
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,799 sqft
  • Baths : 2 full
Listing Agent

Redfin Corporation

Listing Agent's Description

Great location in Morning Sun Farms. 3 Car Garage!!! This open floorplan offers 3 large bedrooms and vaulted ceilings. Master bedroom has a sliding glass door that leads out to the covered patio. The spacious Master Bathroom has double sinks, shower, tub, and a large walk in closet. As you walk out to the backyard you will notice the large covered patio and good privacy with no neighbors directly behind the Home. A little carpet and paint will go a long way with this one. Hurry, it one won't last long.

SEE MORE

PRICE & RENT TRENDS

Zip Code: 85142

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Zip Code: 85142

ZipNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9801981

* 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
San Tan Heights Elementary School Primary Regular 583 33 2
Mountain Vista Middle School Middle Regular 331 16 1
San Tan Foothills High School High Regular 521 27 2

San Tan Heights Elementary School

  • Education Level: Primary
  • # of students: 583
  • # of teachers: 33
2
GreatSchools Rating

Mountain Vista Middle School

  • Education Level: Middle
  • # of students: 331
  • # of teachers: 16
1
GreatSchools Rating

San Tan Foothills High School

  • Education Level: High
  • # of students: 521
  • # of teachers: 27
2
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,125$1,375$1,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,250
EXPENSES Loan Payment -$1,015
Property Tax -$137
Property Insurance -$62
HOA -$62
Property Management Fees -$99
CASH FLOW
-$125

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.

$275,000

PROJECTED PRICE

$1,250

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.7%
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$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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$8,734

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,250

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $1,286

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,2953$1,2994$1,3255$1,445
$1,445
RENT COMPS ANALYSIS
  • 2544 W Mericrest Way Queen Creek, AZ 1
    • 3 beds 2 baths ∙ 1,799 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,799 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.69
    •  
  • 33856 N Cherry Creek Road Queen Creek, AZ 2
    • 3 beds 2 baths ∙ 1,929 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,929 Sqft ∙ Built 2002
    property image
    LEASED 11/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.67
    •  
  • 2986 W Dancer Lane Queen Creek, AZ 3
    • 3 beds 2 baths ∙ 1,910 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,910 Sqft ∙ Built 2004
    property image
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $0.68
    •  
  • 3074 W Belle Avenue San Tan Valley, AZ 4
    • 4 beds 2 baths ∙ 1,691 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,691 Sqft ∙ Built 2003
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.78
    •  
  • 2523 W Prospector Way Queen Creek, AZ 5
    • 3 beds 3 baths ∙ 1,967 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,967 Sqft ∙ Built 2004
    property image
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $0.73
    •  
PROPERTY LISTING DETAILS
Alan Brown
Redfin Corporation
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6155092
Last Updated: 11/02/2020
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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