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29345 N 119th Lane Peoria, AZ 85383

4 Beds 3 Baths 2,422 sqft Built 2017

$485,000

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $200.25
  • 3 Days on Market
  • MLS # : 6181280
  • Updated Date : 01/16/2021 at 14:46
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,422 sqft
  • Baths : 3 full
Listing Agent

Infinity & Associates Real Estate

Listing Agent's Description

Highly Popular 2,423 sq ft ''Sierra'' plan by Meritage Homes. Built in 2017 with all the energy features, this practically new home is loaded with upgrades inside and out and sits on a gorgeous lot with view fencing and desert views to the east! 3 car garage! Features: upgraded flooring throughout, quartz & granite two-tone countertops in the Kitchen, & high end cabinetry throughout. Stainless built-in appliances, including double wall ovens and gas cooktop & hood. Custom light fixtures & paint throughout the home as well. Upgraded bathrooms with granite countertops, backsplash, & taller mirrors. Multi-slider at Great Room leads to the backyard that has an extended paver patio, view fencing, and total privacy! Best location in the Village, close to the Marketplace & easy 303 access.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: The Village at Vistancia

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: The Village at Vistancia

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10452053

* 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
Vistancia Elementary School Primary Regular 969 45 10
Vistancia Elementary School Middle Regular 969 45 10
Liberty High School High Regular 2,141 93 6

Vistancia Elementary School

  • Education Level: Primary
  • # of students: 969
  • # of teachers: 45
10
GreatSchools Rating

Vistancia Elementary School

  • Education Level: Middle
  • # of students: 969
  • # of teachers: 45
10
GreatSchools Rating

Liberty High School

  • Education Level: High
  • # of students: 2,141
  • # of teachers: 93
6
GreatSchools Rating
 

$436,500$533,500$485,000

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,685
Property Tax -$346
Property Insurance -$74
HOA -$29
Property Management Fees -$99
CASH FLOW
$68

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.

$485,000

PROJECTED PRICE

$2,300

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.6%
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$0.0$5.0k$10k$15k$20k

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$134,275

INVESTMENT

$134,275

Down Payment
$121,250
Rehab Estimate
$5,750
Closing Costs
$7,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,685

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $121,250
Loan Amount $363,750
See What Happens When You Reinvest Cash Flow

5.83

YEARS SAVED

$32,461

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $2,077

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,0503$2,1004$2,1005$2,300
$2,300
RENT COMPS ANALYSIS
  • 29345 N 119th Lane Peoria, AZ 5
    • 4 beds 3 baths ∙ 2,422 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,422 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.95
    •  
  • 29462 N 126th Lane Peoria, AZ 1
    • 4 beds 2 baths ∙ 2,435 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,435 Sqft ∙ Built 2004
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.82
    •  
  • 29743 N 121st Avenue Peoria, AZ 2
    • 4 beds 3 baths ∙ 2,344 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,344 Sqft ∙ Built 2005
    LEASED 12/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.87
    •  
  • 29240 N 122nd Lane Peoria, AZ 3
    • 3 beds 3 baths ∙ 2,459 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,459 Sqft ∙ Built 2017
    LEASED 09/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.85
    •  
  • 12651 W Blackstone Lane Peoria, AZ 4
    • 4 beds 2 baths ∙ 2,365 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,365 Sqft ∙ Built 2004
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.89
    •  
PROPERTY LISTING DETAILS
Nate Randleman
Infinity & Associates Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6181280
Last Updated: 01/16/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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