Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

40371 W Molly Lane Maricopa, AZ 85138

3 Beds 3 Baths 2,421 sqft Built 2007

$264,500

List Price

$1,370

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

December 09, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $109.25
  • 5 Days on Market
  • MLS # : 6169509
  • Updated Date : 12/09/2020 at 17:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,421 sqft
  • Baths : 2 full , 1 half
Listing Agent

The Maricopa Real Estate Co

Listing Agent's Description

THIS IS IT! This stunning tri-level home shows true pride of ownership and boasts 3 oversized bedrooms, two living rooms, 2.5 baths and an entertainer's kitchen overlooking the dining room! Sprawling master bedroom is upstairs and features two walk-in closets and en-suite bathroom with double sinks and separate shower and soaking tub! Enjoy your private, OVERSIZED lot with extended patio, garden, grass area and RV gate! Upgrades include tile flooring in all the right places, neutral paint inside and out, upgraded fixtures, spacious great rooms and much more! Located in one of Maricopa's premier subdivisions, Desert Passage/Smith Farms, featuring COMMUNITY POOL, tot lots, walking and biking paths, sports fields and courts and close to schools and shopping! Truly A MUST SEE!

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
Saddleback Elementary School Primary Regular 505 24 4
Desert Wind Middle School Middle Regular 414 20 4
Maricopa High School High Regular 1,796 70 3

Saddleback Elementary School

  • Education Level: Primary
  • # of students: 505
  • # of teachers: 24
4
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
 

$238,050$290,950$264,500

PURCHASE PRICE

$1,233$1,507$1,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,370
EXPENSES Loan Payment -$976
Property Tax -$247
Property Insurance -$74
HOA -$99
Property Management Fees -$99
CASH FLOW
-$125

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.

$264,500

PROJECTED PRICE

$1,370

PROJECTED RENT

0.52%

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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,843

INVESTMENT

$75,843

Down Payment
$66,125
Rehab Estimate
$5,750
Closing Costs
$3,968

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$976

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,125
Loan Amount $198,375
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$7,326

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,370

    LIST RENT
  • $0.57

    LIST RENT PER SQFT
  • $1,568

    COMP ESTIMATED VALUE
  • $0.65

    COMP AVG. RENT PER SQFT
Comps Range
$1,370
1$1,3702$1,3953$1,4004$1,4505$1,450
$1,450
RENT COMPS ANALYSIS
  • 40371 W Molly Lane Maricopa, AZ 1
    • 3 beds 3 baths ∙ 2,421 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,421 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $0.57
    •  
  • 20403 N Herbert Avenue Maricopa, AZ 2
    • 4 beds 3 baths ∙ 2,108 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,108 Sqft ∙ Built 2007
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.66
    •  
  • 18096 N Arbor Drive Maricopa, AZ 3
    • 3 beds 3 baths ∙ 2,123 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,123 Sqft ∙ Built 2006
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.66
    •  
  • 19505 N Ventana Lane Maricopa, AZ 4
    • 4 beds 2 baths ∙ 2,252 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,252 Sqft ∙ Built 2007
    LEASED 02/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.64
    •  
  • 41201 W Laramie Road Maricopa, AZ 5
    • 4 beds 3 baths ∙ 2,301 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,301 Sqft ∙ Built 2007
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.63
    •  
PROPERTY LISTING DETAILS
Danielle M. Nichols
The Maricopa Real Estate Co
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6169509
Last Updated: 12/09/2020
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.

BESbswy