Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2801 N Litchfield Road N #80 Goodyear, AZ 85395

2 Beds 2 Baths 1,048 sqft Built 1997

$219,000

List Price

$1,250

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $208.97
  • 2 Days on Market
  • MLS # : 6185101
  • Updated Date : 01/23/2021 at 22:45
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,048 sqft
  • Baths : 2 full
Listing Agent

American Realty Brokers

Listing Agent's Description

Beautiful updated 2 bedroom, 2 bath upstairs condo that has views of Palm Valley Golf Course located in the gated community of the Pyramids of Palm Valley. Has attached 1 car garage. This community has tennis courts, heated pool/spa, workout room and much more. Walking distance to shopping center, restaurants, church, YMCA, and Estrella Community College. This HOA covers roof replacement, water, sewer/trash, outside pest control and cable TV.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Pyramids at Palm Valley Condominiums

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $89k302k

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

Neighborhood: Pyramids at Palm Valley Condominiums

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21050110011501200125013001350140014501500155016001650Rent in $10181669

* 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
Palm Valley Elementary School Primary Regular 849 37 9
Palm Valley Elementary School Middle Regular 849 37 9
Millennium High School High Regular 2,205 94 4

Palm Valley Elementary School

  • Education Level: Primary
  • # of students: 849
  • # of teachers: 37
9
GreatSchools Rating

Palm Valley Elementary School

  • Education Level: Middle
  • # of students: 849
  • # of teachers: 37
9
GreatSchools Rating

Millennium High School

  • Education Level: High
  • # of students: 2,205
  • # of teachers: 94
4
GreatSchools Rating
 

$197,100$240,900$219,000

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 -$761
Property Tax -$183
Property Insurance -$48
HOA -$350
Property Management Fees -$99
CASH FLOW
-$191

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.

$219,000

PROJECTED PRICE

$1,250

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$63,785

INVESTMENT

$63,785

Down Payment
$54,750
Rehab Estimate
$5,750
Closing Costs
$3,285

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$761

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $54,750
Loan Amount $164,250
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$569

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
  • $1,132

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,2503$1,3754$1,400
$1,400
RENT COMPS ANALYSIS
  • 2801 N Litchfield Road N #80 Goodyear, AZ 1
    • 2 beds 2 baths ∙ 1,048 Sqft ∙ Built 1997 2 beds 2 baths ∙ 1,048 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2801 N Litchfield Road #77 Goodyear, AZ 2
    • 2 beds 2 baths ∙ 1,209 Sqft ∙ Built 1997 2 beds 2 baths ∙ 1,209 Sqft ∙ Built 1997
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.03
    •  
  • 2986 N 147th Drive Goodyear, AZ 3
    • 2 beds 2 baths ∙ 1,269 Sqft ∙ Built 2000 2 beds 2 baths ∙ 1,269 Sqft ∙ Built 2000
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $1.08
    •  
  • 14250 W Wigwam Boulevard #3212 Litchfield Park, AZ 4
    • 2 beds 2 baths ∙ 1,241 Sqft ∙ Built 2006 2 beds 2 baths ∙ 1,241 Sqft ∙ Built 2006
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.13
    •  
PROPERTY LISTING DETAILS
Darcy Martin
American Realty Brokers
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6185101
Last Updated: 01/23/2021
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.

BESbswy