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40866 W Patricia Lane Maricopa, AZ 85138

3 Beds 2 Baths 1,849 sqft Built 2018

$259,900

List Price

$1,260

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2018
  • Price/Sqft : $140.56
  • 5 Days on Market
  • MLS # : 6154286
  • Updated Date : 10/31/2020 at 02:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,849 sqft
  • Baths : 2 full
Listing Agent

Homesmart Success

Listing Agent's Description

Why wait for a new home? This 2018-built home is ready now and has everything you are looking for. Gorgeous kitchen with cherry cabinets, granite counters, tile backsplash, a large island with breakfast bar, and stainless appliances including a slide-in stove and French-door fridge. Open layout with a large great room, den, and split master bedroom. Luxury Vinyl Plank flooring throughout, except for the bedrooms which are carpeted. Painted in modern tones with custom lighting, and each room is complete with blinds and ceiling fans. The backyard has an extended paver patio, artificial turf, built-in BBQ grill, and is lined with landscape that has been meticulously maintained. Private lot with no neighbors behind you and 1-story homes on either side. Come see this amazing home today!

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
 

$233,910$285,890$259,900

PURCHASE PRICE

$1,134$1,386$1,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,260
EXPENSES Loan Payment -$959
Property Tax -$250
Property Insurance -$63
HOA -$99
Property Management Fees -$99
CASH FLOW
-$210

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.

$259,900

PROJECTED PRICE

$1,260

PROJECTED RENT

0.48%

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

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$74,624

INVESTMENT

$74,624

Down Payment
$64,975
Rehab Estimate
$5,750
Closing Costs
$3,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,975
Loan Amount $194,925
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$2,756

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,260

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $1,359

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,260
1$1,2602$1,2753$1,2954$1,4005$1,450
$1,450
RENT COMPS ANALYSIS
  • 40866 W Patricia Lane Maricopa, AZ 1
    • 3 beds 2 baths ∙ 1,849 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,849 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,260
    • $0.68
    •  
  • 40317 W Helen Court Maricopa, AZ 2
    • 3 beds 3 baths ∙ 1,703 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,703 Sqft ∙ Built 2006
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $0.75
    •  
  • 40300 W Peggy Court Maricopa, AZ 3
    • 3 beds 3 baths ∙ 1,867 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,867 Sqft ∙ Built 2013
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.69
    •  
  • 40219 W Mary Lou Drive Maricopa, AZ 4
    • 4 beds 2 baths ∙ 1,913 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,913 Sqft ∙ Built 2006
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.73
    •  
  • 40792 W Tamara Lane Maricopa, AZ 5
    • 3 beds 2 baths ∙ 1,871 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,871 Sqft ∙ Built 2018
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.77
    •  
PROPERTY LISTING DETAILS
David Morgan
Homesmart Success
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6154286
Last Updated: 10/31/2020
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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