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2923 S 164th Drive Goodyear, AZ 85338

5 Beds 3 Baths 2,816 sqft Built 2007

$540,000

List Price

$1,820

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 2007
  • Price/Sqft : $191.76
  • 5 Days on Market
  • MLS # : 6156046
  • Updated Date : 11/05/2020 at 15:28
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,816 sqft
  • Baths : 3 full
Listing Agent

Emg Real Estate

Listing Agent's Description

Fantastic custome home waiting for you. You're going to love. Offering an open floor plan,vaulted ceilings, and upgrades all over. Sitting on a lot just over an acre you'll have all the room you need for your vehicles, toys, or pets. The bedrooms are spacious and have ceiling fans. The kitchen boasts upgraded cabinetry with lots of storage space, island with breakfast bar, recessed lighting, pantry, tile flooring, & stainless steel appliances. A gem like this wont last long so hurry & come take a look before its gone. You wont be disappointed.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Central Goodyear

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $96k302k

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

Neighborhood: Central Goodyear

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10181646

* 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
Copper Trails School Primary Regular 922 39 6
Copper Trails School Middle Regular 922 39 6
Verrado High School High Regular 1,855 74 4

Copper Trails School

  • Education Level: Primary
  • # of students: 922
  • # of teachers: 39
6
GreatSchools Rating

Copper Trails School

  • Education Level: Middle
  • # of students: 922
  • # of teachers: 39
6
GreatSchools Rating

Verrado High School

  • Education Level: High
  • # of students: 1,855
  • # of teachers: 74
4
GreatSchools Rating
 

$486,000$594,000$540,000

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$1,992
Property Tax -$308
Property Insurance -$82
Property Management Fees -$99
CASH FLOW
-$662

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.

$540,000

PROJECTED PRICE

$1,820

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.2%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$148,850

INVESTMENT

$148,850

Down Payment
$135,000
Rehab Estimate
$5,750
Closing Costs
$8,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,992

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $135,000
Loan Amount $405,000
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$1,023

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,820

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $1,915

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6503$1,8204$1,9255$2,000
$2,000
RENT COMPS ANALYSIS
  • 2923 S 164th Drive Goodyear, AZ 3
    • 5 beds 3 baths ∙ 2,816 Sqft ∙ Built 2007 5 beds 3 baths ∙ 2,816 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.65
    •  
  • 16110 W Miami Street Goodyear, AZ 1
    • 4 beds 3 baths ∙ 2,719 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,719 Sqft ∙ Built 2006
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.61
    •  
  • 2725 S 155th Lane Goodyear, AZ 2
    • 4 beds 3 baths ∙ 2,504 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,504 Sqft ∙ Built 2005
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.66
    •  
  • 17219 W Hilton Avenue Goodyear, AZ 4
    • 4 beds 3 baths ∙ 2,703 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,703 Sqft ∙ Built 2004
    LEASED 04/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.71
    •  
  • 2946 S 161st Drive Goodyear, AZ 5
    • 4 beds 3 baths ∙ 2,719 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,719 Sqft ∙ Built 2006
    LEASED 09/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.74
    •  
PROPERTY LISTING DETAILS
Cesar Osuna
Emg Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6156046
Last Updated: 11/05/2020
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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