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40307 W Novak Lane Maricopa, AZ 85138

4 Beds 2 Baths 1,763 sqft Built 2007

$235,000

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $133.30
  • 2 Days on Market
  • MLS # : 6170670
  • Updated Date : 12/12/2020 at 01:53
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,763 sqft
  • Baths : 2 full
Listing Agent

Nexgen Real Estate

Listing Agent's Description

Come take a look at this remarkable home that is nestled in the heart of Maricopa. A spacious open floor that has brand new carpet in bedrooms and hallway. Living areas including kitchen have tile! Back splash was just installed as well! You'll love this 4 bedroom 2 bath home that is located in the great community of Homestead. Many amenities around including a park, with bike/walking trails, a lake and basketball courts. Schedule your showing today before it's gone!

SEE MORE

PRICE & RENT TRENDS

Zip Code: 85138

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $109k282k

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

Zip Code: 85138

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
Santa Cruz Elementary School Primary Regular 453 21 5
Desert Wind Middle School Middle Regular 414 20 4
Maricopa High School High Regular 1,796 70 3

Santa Cruz Elementary School

  • Education Level: Primary
  • # of students: 453
  • # of teachers: 21
5
GreatSchools Rating

Desert Wind Middle School

  • Education Level: Middle
  • # of students: 414
  • # of teachers: 20
4
GreatSchools Rating

Maricopa High School

  • Education Level: High
  • # of students: 1,796
  • # of teachers: 70
3
GreatSchools Rating
 

$211,500$258,500$235,000

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 -$867
Property Tax -$220
Property Insurance -$62
HOA -$48
Property Management Fees -$99
CASH FLOW
$105

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.

$235,000

PROJECTED PRICE

$1,400

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 7.0%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$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$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$26,452

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
  • $0.79

    LIST RENT PER SQFT
  • $1,362

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,3003$1,3004$1,3505$1,400
$1,400
RENT COMPS ANALYSIS
  • 40307 W Novak Lane Maricopa, AZ 5
    • 4 beds 2 baths ∙ 1,763 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,763 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.79
    •  
  • 20951 N Dries Road Maricopa, AZ 1
    • 4 beds 2 baths ∙ 1,728 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,728 Sqft ∙ Built 2007
    property image
    LEASED 06/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.72
    •  
  • 40381 W Robbins Drive Maricopa, AZ 2
    • 3 beds 2 baths ∙ 1,677 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,677 Sqft ∙ Built 2008
    property image
    LEASED 08/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.78
    •  
  • 20847 N Mac Neil Street Maricopa, AZ 3
    • 3 beds 2 baths ∙ 1,677 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,677 Sqft ∙ Built 2007
    property image
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.78
    •  
  • 41280 W Sanders Way Maricopa, AZ 4
    • 3 beds 2 baths ∙ 1,677 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,677 Sqft ∙ Built 2007
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.81
    •  
PROPERTY LISTING DETAILS
Amanda Montano
Nexgen Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6170670
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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