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35227 N Morningside Court San Tan Valley, AZ 85140

4 Beds 3 Baths 2,560 sqft Built 2005

$590,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $230.47
  • 2 Days on Market
  • MLS # : 6163449
  • Updated Date : 11/21/2020 at 02:58
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,560 sqft
  • Baths : 2 full , 1 half
Listing Agent

Gentry Real Estate

Listing Agent's Description

Country living on 1.25 acres with irrigation!This 4 bedroom/2.5 bath home has a 3 car extended garage and features an open floor plan with a gorgeous upgraded kitchen for entertaining. The home boasts a huge oversized master bedroom & nestled with 3 guest bedrooms a bonus office/teen room. The property includes a 40'x 60' Barn with 5 mare stalls,15'x14' tack room, 4 livestock pens & 10' alley. You'll have extra storage with an additional 8'x20' storage shed with custom barn door and 8'x7' covered patio. A dirt pad has been prepared for a 40'x40' metal building at the north east corner of the property. Room for all your toys and animals! *home built with 2x6 exterior construction, 2'' of closed foam + R24 batting and sprayed attic insulation. All studs 16 on center throughout home.

SEE MORE

PRICE & RENT TRENDS

Zip Code: 85140

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $109k271k

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

Zip Code: 85140

ZipNIR Market*CityMarket2010Year20002019 Q2100010501100115012001250130013501400145015001550Rent in $9681567

* 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
Magma Ranch K-8 School Primary Regular 788 35 4
Magma Ranch K-8 School Middle Regular 788 35 4
Poston Butte High School High Regular 1,801 79 4

Magma Ranch K-8 School

  • Education Level: Primary
  • # of students: 788
  • # of teachers: 35
4
GreatSchools Rating

Magma Ranch K-8 School

  • Education Level: Middle
  • # of students: 788
  • # of teachers: 35
4
GreatSchools Rating

Poston Butte High School

  • Education Level: High
  • # of students: 1,801
  • # of teachers: 79
4
GreatSchools Rating
 

$531,000$649,000$590,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$2,177
Property Tax -$311
Property Insurance -$77
Property Management Fees -$99
CASH FLOW
-$814

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.

$590,000

PROJECTED PRICE

$1,850

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 8.7%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$162,100

INVESTMENT

$162,100

Down Payment
$147,500
Rehab Estimate
$5,750
Closing Costs
$8,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,177

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $147,500
Loan Amount $442,500
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$327

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
  • $1,702

    COMP ESTIMATED VALUE
  • $0.67

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,5003$1,900
$1,900
RENT COMPS ANALYSIS
  • 35227 N Morningside Court San Tan Valley, AZ 1
    • 4 beds 3 baths ∙ 2,560 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,560 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3570 E Longhorn Street San Tan Valley, AZ 2
    • 5 beds 3 baths ∙ 2,621 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,621 Sqft ∙ Built 2006
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.57
    •  
  • 4356 E Amarillo Drive San Tan Valley, AZ 3
    • 4 beds 3 baths ∙ 2,489 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,489 Sqft ∙ Built 2007
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.76
    •  
PROPERTY LISTING DETAILS
Melanie J Scow
Gentry Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6163449
Last Updated: 11/21/2020
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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