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40936 W Hopper Drive Maricopa, AZ 85138

4 Beds 3 Baths 2,964 sqft Built 2007

$399,000

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $134.62
  • 3 Days on Market
  • MLS # : 6184139
  • Updated Date : 01/22/2021 at 00:13
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,964 sqft
  • Baths : 3 full
Listing Agent

Homesmart Success

Listing Agent's Description

This over-sized gorgeous bungalow is loaded with upgrades and situated on a huge lot. 4 bedrooms, 3 full baths and a den. Over 42K in upgrades include, a shower and jetted you will not want to live without in master, tile, new(er) carpet, 10 to 12 foot and vaulted ceilings, brushed bronze lighting, upgraded doors. The home has a water softener, reverse osmosis, huge great room, a kitchen that you will love cooking in, and a 3 car garage. Please review the video under the photo tab and the builders upgrades list under the documents tab.

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
 

$359,100$438,900$399,000

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$1,386
Property Tax -$373
Property Insurance -$85
HOA -$48
Property Management Fees -$99
CASH FLOW
-$511

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.

$399,000

PROJECTED PRICE

$1,480

PROJECTED RENT

0.37%

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,485

INVESTMENT

$111,485

Down Payment
$99,750
Rehab Estimate
$5,750
Closing Costs
$5,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,386

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,750
Loan Amount $299,250
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$127

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $0.5

    LIST RENT PER SQFT
  • $1,482

    COMP ESTIMATED VALUE
  • $0.5

    COMP AVG. RENT PER SQFT
Comps Range
$1,480
1$1,4802$1,5753$1,5954$1,6505$1,700
$1,700
RENT COMPS ANALYSIS
  • 40936 W Hopper Drive Maricopa, AZ 1
    • 4 beds 3 baths ∙ 2,964 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,964 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.50
    •  
  • 21512 N Denton Drive Maricopa, AZ 2
    • 5 beds 3 baths ∙ 3,306 Sqft ∙ Built 2009 5 beds 3 baths ∙ 3,306 Sqft ∙ Built 2009
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.48
    •  
  • 20886 N Wilford Avenue Maricopa, AZ 3
    • 4 beds 3 baths ∙ 3,267 Sqft ∙ Built 2013 4 beds 3 baths ∙ 3,267 Sqft ∙ Built 2013
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.49
    •  
  • 41960 W Palmyra Court Maricopa, AZ 4
    • 4 beds 3 baths ∙ 3,272 Sqft ∙ Built 2008 4 beds 3 baths ∙ 3,272 Sqft ∙ Built 2008
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.50
    •  
  • 40381 W Marion May Lane Maricopa, AZ 5
    • 4 beds 3 baths ∙ 3,181 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,181 Sqft ∙ Built 2006
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.53
    •  
PROPERTY LISTING DETAILS
Ted A. Anderson
Homesmart Success
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6184139
Last Updated: 01/22/2021
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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