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3108 S 97th Lane Tolleson, AZ 85353

3 Beds 3 Baths 2,144 sqft Built 2004

$310,000

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $144.59
  • 3 Days on Market
  • MLS # : 6152504
  • Updated Date : 11/20/2020 at 17:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,144 sqft
  • Baths : 2 full , 1 half
Listing Agent

Berkshire Hathaway Homeservices Arizona Properties

Listing Agent's Description

Welcome to your next home that shows real pride of ownership! This well kept home features new flooring, freshly painted interior and resurfaced kitchen cabinets for a new modern feel! Upstairs loft perfect for online schooling or can be converted into 4th bedroom. Enjoy the crisp Arizona weather from the comfort of your own backyard that show NO neighbors to the North or West!! This house is sure to get much interest!PLEASE WEAR FACE MASKS DURING TOUR!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Estrella

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $82k271k

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

Neighborhood: Estrella

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500Rent in $8031567

* 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
Hurley Ranch Elementary School Primary Regular 976 41 2
Hurley Ranch Elementary School Middle Regular 976 41 2
Tolleson Union High School High Regular 1,911 91 4

Hurley Ranch Elementary School

  • Education Level: Primary
  • # of students: 976
  • # of teachers: 41
2
GreatSchools Rating

Hurley Ranch Elementary School

  • Education Level: Middle
  • # of students: 976
  • # of teachers: 41
2
GreatSchools Rating

Tolleson Union High School

  • Education Level: High
  • # of students: 1,911
  • # of teachers: 91
4
GreatSchools Rating
 

$279,000$341,000$310,000

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$1,144
Property Tax -$200
Property Insurance -$69
HOA -$18
Property Management Fees -$99
CASH FLOW
-$130

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.

$310,000

PROJECTED PRICE

$1,400

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 9.4%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,144

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$11,158

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $1,570

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4503$1,4504$1,6005$1,629
$1,629
RENT COMPS ANALYSIS
  • 3108 S 97th Lane Tolleson, AZ 1
    • 3 beds 3 baths ∙ 2,144 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,144 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.65
    •  
  • 10018 W Winslow Avenue Tolleson, AZ 2
    • 4 beds 3 baths ∙ 2,056 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,056 Sqft ∙ Built 2006
    LEASED 11/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.71
    •  
  • 10018 W Miami Street Tolleson, AZ 3
    • 3 beds 3 baths ∙ 1,995 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,995 Sqft ∙ Built 2003
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.73
    •  
  • 3410 S 95th Drive Tolleson, AZ 4
    • 4 beds 3 baths ∙ 2,162 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,162 Sqft ∙ Built 2004
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.74
    •  
  • 9413 W Payson Road Tolleson, AZ 5
    • 4 beds 3 baths ∙ 2,166 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,166 Sqft ∙ Built 2007
    LEASED 12/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,629
    • $0.75
    •  
PROPERTY LISTING DETAILS
Joe Hernandez
Berkshire Hathaway Homeservices Arizona Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6152504
Last Updated: 11/20/2020
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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