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398 E Backman Street San Tan Valley, AZ 85140

5 Beds 3 Baths 2,280 sqft Built 2006

$329,900

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $144.69
  • 10 Days on Market
  • MLS # : 6160243
  • Updated Date : 11/19/2020 at 11:22
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,280 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homesmart

Listing Agent's Description

You are going to love this highly upgraded home with its sparkling pebble-tec pool! This move-in ready home is centrally located with no rear neighbors in the Master plan community of Taylor Ranch. You will appreciate the beautiful parks and being just minutes from shopping and schools. The open floor plan makes this home perfect for entertaining & everyday living! The kitchen offers a generous amount cabinets with beautiful hard surface counter tops. Over sized tile and newly installed carpet is seen throughout the home & offers the warmth & modern feel that everyone will appreciate. Pride of ownership is evident throughout this wonderful with plantation shutters! HVAC was replaced recently. This is a must see!

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
Ranch Elementary School Primary Regular 525 23 4
J. O. Combs Middle School Middle Regular 698 27 4
Combs High School High Regular 1,302 49 3

Ranch Elementary School

  • Education Level: Primary
  • # of students: 525
  • # of teachers: 23
4
GreatSchools Rating

J. O. Combs Middle School

  • Education Level: Middle
  • # of students: 698
  • # of teachers: 27
4
GreatSchools Rating

Combs High School

  • Education Level: High
  • # of students: 1,302
  • # of teachers: 49
3
GreatSchools Rating
 

$296,910$362,890$329,900

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$1,217
Property Tax -$175
Property Insurance -$72
HOA -$21
Property Management Fees -$99
CASH FLOW
-$84

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.

$329,900

PROJECTED PRICE

$1,500

PROJECTED RENT

0.45%

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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$93,174

INVESTMENT

$93,174

Down Payment
$82,475
Rehab Estimate
$5,750
Closing Costs
$4,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,217

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,475
Loan Amount $247,425
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$16,991

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $1,590

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,5003$1,5494$1,6855$1,850
$1,850
RENT COMPS ANALYSIS
  • 398 E Backman Street San Tan Valley, AZ 2
    • 5 beds 3 baths ∙ 2,280 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,280 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.66
    •  
  • 1587 E Leaf Road San Tan Valley, AZ 1
    • 4 beds 2 baths ∙ 2,082 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,082 Sqft ∙ Built 2005
    LEASED 12/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.67
    •  
  • 617 E Press Road San Tan Valley, AZ 3
    • 4 beds 3 baths ∙ 2,389 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,389 Sqft ∙ Built 2007
    LEASED 07/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,549
    • $0.65
    •  
  • 1230 E Press Place San Tan Valley, AZ 4
    • 5 beds 3 baths ∙ 2,253 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,253 Sqft ∙ Built 2005
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,685
    • $0.75
    •  
  • 246 W White Oak Avenue Queen Creek, AZ 5
    • 4 beds 3 baths ∙ 2,587 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,587 Sqft ∙ Built 2017
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.72
    •  
PROPERTY LISTING DETAILS
Paul Stetka
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6160243
Last Updated: 11/19/2020
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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