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41176 W Elm Drive Maricopa, AZ 85138

3 Beds 2 Baths 1,801 sqft Built 2014

$309,900

List Price

$1,470

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $172.07
  • 2 Days on Market
  • MLS # : 6173056
  • Updated Date : 12/18/2020 at 21:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,801 sqft
  • Baths : 2 full
Listing Agent

The Maricopa Real Estate Co

Listing Agent's Description

The most desirable single level floor plan in the extremely desirable Lakes Community. The original snowbird owners have meticulously cared for this home. This house feels like a brand new home. Only lived in a few moths of the year, the ac has barely been used. Every square inch of the backyard was crafted from scratch by the owners hands, a retired artisan stone mason with over fifty years experience and a detailed eye for perfection. The words move-in ready are often thrown around like confetti. This beautiful home is the definition of move-in ready. There are no homes directly opposite giving a wonderful feeling of spaciousness.

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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 Rosa Elementary School Primary Regular 429 22 5
Desert Wind Middle School Middle Regular 414 20 4
Maricopa High School High Regular 1,796 70 3

Santa Rosa Elementary School

  • Education Level: Primary
  • # of students: 429
  • # of teachers: 22
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
 

$278,910$340,890$309,900

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$1,143
Property Tax -$290
Property Insurance -$62
HOA -$67
Property Management Fees -$99
CASH FLOW
-$191

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.

$309,900

PROJECTED PRICE

$1,470

PROJECTED RENT

0.47%

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,874

INVESTMENT

$87,874

Down Payment
$77,475
Rehab Estimate
$5,750
Closing Costs
$4,649

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,143

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,475
Loan Amount $232,425
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$6,499

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,470

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,373

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4003$1,4004$1,4505$1,470
$1,470
RENT COMPS ANALYSIS
  • 41176 W Elm Drive Maricopa, AZ 5
    • 3 beds 2 baths ∙ 1,801 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,801 Sqft ∙ Built 2014
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $0.82
    •  
  • 41280 W Sanders Way Maricopa, AZ 1
    • 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
    •  
  • 22463 N Dietz Drive Maricopa, AZ 2
    • 3 beds 2 baths ∙ 1,824 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,824 Sqft ∙ Built 2004
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.77
    •  
  • 21467 N Falcon Lane Maricopa, AZ 3
    • 3 beds 2 baths ∙ 1,966 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,966 Sqft ∙ Built 2005
    property image
    LEASED 11/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.71
    •  
  • 41910 W Frost Drive Maricopa, AZ 4
    • 3 beds 2 baths ∙ 1,919 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,919 Sqft ∙ Built 2005
    property image
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.76
    •  
PROPERTY LISTING DETAILS
Christopher Hopewell
The Maricopa Real Estate Co
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6173056
Last Updated: 12/18/2020
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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