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3607 N Balboa Drive Florence, AZ 85132

3 Beds 2 Baths 2,403 sqft Built 2012

$354,900

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $147.69
  • 2 Days on Market
  • MLS # : 6190887
  • Updated Date : 02/06/2021 at 16:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,403 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

IMPECCABLE PLATEAU Model featuring Private Entry Courtyard w/ Pavers, Trey Ceiling in the Entry, 2 Tone Paint, 8' Doors, 18'' Designer Tile & Beautiful Plantation Shutters throughout! Glass French Doors w/ Sidelights leads into the Den, Spacious Kitchen w/ Gas Stove, Staggered Maple Cabinets, Island, Walk-In Pantry, Stainless Steel Appliances & Breakfast Bar. Roomy Owner's Suite w/ huge Walk-in Closet, Double sink vanity w/ Granitex & 2 linen closets. Private Fenced yard w/ Pavers on Covered Patio & Extended Patio gives ample room for all Outdoor Living! Other Features inc. Powder Room, Rough-In Plumbing for Sink in Laundry Room, Water Softener, 19' x 21' Two Car Garage.This Home is MOVE-IN READY!! Enjoy the Outdoor Pool, Water Park, Dog Park, Rec Center w/ Gym, Golf, Anthem Grille & more!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Anthem at Merrill Ranch

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $109k271k

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

Neighborhood: Anthem at Merrill Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8971567

* 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
Florence High School High Regular 778 41 4

Florence High School

  • Education Level: High
  • # of students: 778
  • # of teachers: 41
4
GreatSchools Rating
 

$319,410$390,390$354,900

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$1,233
Property Tax -$297
Property Insurance -$74
HOA -$45
Property Management Fees -$99
CASH FLOW
-$198

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.

$354,900

PROJECTED PRICE

$1,550

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 4.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$99,799

INVESTMENT

$99,799

Down Payment
$88,725
Rehab Estimate
$5,750
Closing Costs
$5,324

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,233

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $88,725
Loan Amount $266,175
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$6,704

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $1,818

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6953$1,7954$1,850
$1,850
RENT COMPS ANALYSIS
  • 3607 N Balboa Drive Florence, AZ 1
    • 3 beds 2 baths ∙ 2,403 Sqft ∙ Built 2012 3 beds 2 baths ∙ 2,403 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.65
    •  
  • 7461 W Pleasant Oak Way Florence, AZ 2
    • 4 beds 3 baths ∙ 2,707 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,707 Sqft ∙ Built 2007
    LEASED 01/21/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.63
    •  
  • 8482 W Sonoma Way Florence, AZ 3
    • 3 beds 2 baths ∙ 2,095 Sqft ∙ Built 2020 3 beds 2 baths ∙ 2,095 Sqft ∙ Built 2020
    LEASED 12/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.86
    •  
  • 5407 W Heritage Way Florence, AZ 4
    • 4 beds 2 baths ∙ 2,375 Sqft ∙ Built 2019 4 beds 2 baths ∙ 2,375 Sqft ∙ Built 2019
    LEASED 01/26/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.78
    •  
PROPERTY LISTING DETAILS
Carla J Henderson
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6190887
Last Updated: 02/06/2021
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. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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