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41616 W Somerset Drive Maricopa, AZ 85138

4 Beds 2 Baths 1,716 sqft Built 2006

$249,500

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $145.40
  • 3 Days on Market
  • MLS # : 6170463
  • Updated Date : 12/11/2020 at 15:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,716 sqft
  • Baths : 2 full
Listing Agent

The Maricopa Real Estate Co

Listing Agent's Description

A MUST SEE! This gorgeous single level bungalow shows true pride of ownership and features FOUR spacious bedrooms, two bathrooms, open concept floor plan and ultra private, 10,000+ sq ft fully landscaped backyard with covered patio! Split floor plan with palatial master featuring walk-in closet and shower with soaking tub and dual sinks in master bathroom! Upgrades include soaring ceilings, tile throughout (NO CARPET), neutral paint, Maple cabinets, kitchen island, surround sound pre-wire and much more! Located in one of Maricopa's premier subdivisions, Glennwilde Groves, with TWO community pools and just minutes from Pacana Park as well as schools and shopping! CUL-DE-SAC LOT! Don't miss out on your opportunity to own this gem!

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
 

$224,550$274,450$249,500

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 -$921
Property Tax -$233
Property Insurance -$61
HOA -$92
Property Management Fees -$99
CASH FLOW
-$5

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.

$249,500

PROJECTED PRICE

$1,400

PROJECTED RENT

0.56%

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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$71,868

INVESTMENT

$71,868

Down Payment
$62,375
Rehab Estimate
$5,750
Closing Costs
$3,743

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$921

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,375
Loan Amount $187,125
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$15,684

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
  • $0.82

    LIST RENT PER SQFT
  • $1,343

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,249
1$1,2492$1,2503$1,2504$1,3255$1,400
$1,400
RENT COMPS ANALYSIS
  • 41616 W Somerset Drive Maricopa, AZ 5
    • 4 beds 2 baths ∙ 1,716 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,716 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.82
    •  
  • 41876 W Cheyenne Drive Maricopa, AZ 1
    • 3 beds 2 baths ∙ 1,565 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,565 Sqft ∙ Built 2006
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,249
    • $0.80
    •  
  • 42458 W Monteverde Drive Maricopa, AZ 2
    • 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 2012
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.80
    •  
  • 42541 W Sussex Road Maricopa, AZ 3
    • 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 2012
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.80
    •  
  • 42969 W Elizabeth Avenue Maricopa, AZ 4
    • 3 beds 2 baths ∙ 1,817 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,817 Sqft ∙ Built 2009
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.73
    •  
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 #: 6170463
Last Updated: 12/11/2020
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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