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2622 W Ironstone Avenue Apache Junction, AZ 85120

4 Beds 2 Baths 1,863 sqft Built 1999

$359,900

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $193.18
  • 4 Days on Market
  • MLS # : 6205438
  • Updated Date : 03/11/2021 at 05:26
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,863 sqft
  • Baths : 2 full
Listing Agent

Realty Executives

Listing Agent's Description

This home is crisp, clean, well taken care of, will stand out in today's market. 4 bedrooms, 2 bathrooms, 2 car garage, tile roof. Step in front door to spacious living room, tile flooring, ceiling fan with light. Open to family room and kitchen. Tile flooring as well, north facing windows allowing natural light without heat. Center kitchen island, side by side refrigerator being offered with the property. Spacious master bedroom, walk-in closet, ceiling fan with light, tile flooring, double sinks, tub/shower combo in master bathroom. 3 additional bedrooms, ceiling fans in 2 of three. Expanded covered north patio, high back wall for privacy. Painted concrete garage flooring. Newer washer/dryer also offered with prroperty.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Apache Junction

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: Apache Junction

NeighborhoodNIR 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
Cactus Canyon Junior High School Middle Regular 780 40 4
Apache Junction High School High Regular 1,304 69 3

Cactus Canyon Junior High School

  • Education Level: Middle
  • # of students: 780
  • # of teachers: 40
4
GreatSchools Rating

Apache Junction High School

  • Education Level: High
  • # of students: 1,304
  • # of teachers: 69
3
GreatSchools Rating
 

$323,910$395,890$359,900

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$1,250
Property Tax -$219
Property Insurance -$64
HOA -$18
Property Management Fees -$99
CASH FLOW
-$120

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.

$359,900

PROJECTED PRICE

$1,530

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 8.9%
Maintenance Year (1-5) 8.00%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,124

INVESTMENT

$101,124

Down Payment
$89,975
Rehab Estimate
$5,750
Closing Costs
$5,399

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,250

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $89,975
Loan Amount $269,925
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$12,077

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
  • $1,705

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,4953$1,5954$1,6005$1,650
$1,650
RENT COMPS ANALYSIS
  • 2622 W Ironstone Avenue Apache Junction, AZ 1
    • 4 beds 2 baths ∙ 1,863 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,863 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1719 S Pinto Drive Apache Junction, AZ 2
    • 3 beds 2 baths ∙ 1,657 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,657 Sqft ∙ Built 1998
    LEASED 11/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.90
    •  
  • 11057 E Catalina Avenue Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,679 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,679 Sqft ∙ Built 1999
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.95
    •  
  • 11069 E Kilarea Avenue #125 Mesa, AZ 4
    • 3 beds 2 baths ∙ 1,773 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,773 Sqft ∙ Built 2002
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.90
    •  
  • 1679 S Desert View Place Apache Junction, AZ 5
    • 3 beds 3 baths ∙ 1,823 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,823 Sqft ∙ Built 2016
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.91
    •  
PROPERTY LISTING DETAILS
Jim Barker
Realty Executives
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6205438
Last Updated: 03/11/2021
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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