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302 S 119th Drive Avondale, AZ 85323

3 Beds 2 Baths 1,566 sqft Built 2003

$275,000

List Price

$1,280

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $175.61
  • 2 Days on Market
  • MLS # : 6170638
  • Updated Date : 12/12/2020 at 19:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,566 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Elite

Listing Agent's Description

CHARMING corner lot home in desirable Avondale is waiting just for you. Offering great curb appeal and easy care desert front landscaping. You will absolutely love this bright and welcoming interior complete with 3 bed, 2 bath, a den great for an office, archways, and so much more. Eat-in kitchen providing granite counter-tops, breakfast bar, recessed lighting, honey oak cabinetry, and white matching appliances ready to be used. Inside this unique master bedroom you will find bay windows, a generous walk-in closet, and a lavish en-suite with dual sinks. Impressive grassy backyard gives you a covered patio, pavers, and sitting area where you can enjoy relaxing afternoons. Look no more!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Coldwater Springs

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: Coldwater Springs

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500Rent in $8201567

* 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
Collier Elementary School Primary Regular 876 50 3
Collier Elementary School Middle Regular 876 50 3
La Joya Community High School High Regular 2,051 84 1

Collier Elementary School

  • Education Level: Primary
  • # of students: 876
  • # of teachers: 50
3
GreatSchools Rating

Collier Elementary School

  • Education Level: Middle
  • # of students: 876
  • # of teachers: 50
3
GreatSchools Rating

La Joya Community High School

  • Education Level: High
  • # of students: 2,051
  • # of teachers: 84
1
GreatSchools Rating
 

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

PURCHASE PRICE

$1,152$1,408$1,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,280
EXPENSES Loan Payment -$1,015
Property Tax -$197
Property Insurance -$58
HOA -$41
Property Management Fees -$99
CASH FLOW
-$129

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

$1,280

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 7.8%
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

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$900k

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

3.25

YEARS SAVED

$8,627

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,280

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,386

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,280
1$1,2802$1,3503$1,3504$1,3955$1,550
$1,550
RENT COMPS ANALYSIS
  • 302 S 119th Drive Avondale, AZ 1
    • 3 beds 2 baths ∙ 1,566 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,566 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,280
    • $0.82
    •  
  • 11851 W Washington Street Avondale, AZ 2
    • 3 beds 2 baths ∙ 1,524 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,524 Sqft ∙ Built 2004
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.89
    •  
  • 11621 W Jackson Street Avondale, AZ 3
    • 3 beds 2 baths ∙ 1,524 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,524 Sqft ∙ Built 2006
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.89
    •  
  • 12230 W Maricopa Street Avondale, AZ 4
    • 3 beds 2 baths ∙ 1,678 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,678 Sqft ∙ Built 2003
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.83
    •  
  • 11902 W Jefferson Street Avondale, AZ 5
    • 4 beds 2 baths ∙ 1,669 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,669 Sqft ∙ Built 2002
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.93
    •  
PROPERTY LISTING DETAILS
Michelle Wolf
Keller Williams Elite
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6170638
Last Updated: 12/12/2020
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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