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42297 W Sparks Drive Maricopa, AZ 85138

3 Beds 2 Baths 1,685 sqft Built 2004

$245,000

List Price

$1,310

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $145.40
  • 3 Days on Market
  • MLS # : 6170522
  • Updated Date : 12/12/2020 at 10:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,685 sqft
  • Baths : 2 full
Listing Agent

Homlinc

Listing Agent's Description

Beautiful 3Br 2 Ba home located in beautiful Maricopa. Short Drive to Chandler, Tempe and Phoenix. This home features a spacious back yard, golf course with in walking distance and energy saving Solar! Home is vacant and ready for quick close and move in!

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
Pima Butte Elementary School Primary Regular 489 23 8
Pima Butte Elementary School Middle Regular 489 23 8
Maricopa High School High Regular 1,796 70 3

Pima Butte Elementary School

  • Education Level: Primary
  • # of students: 489
  • # of teachers: 23
8
GreatSchools Rating

Pima Butte Elementary School

  • Education Level: Middle
  • # of students: 489
  • # of teachers: 23
8
GreatSchools Rating

Maricopa High School

  • Education Level: High
  • # of students: 1,796
  • # of teachers: 70
3
GreatSchools Rating
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,179$1,441$1,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,310
EXPENSES Loan Payment -$904
Property Tax -$229
Property Insurance -$60
HOA -$20
Property Management Fees -$99
CASH FLOW
-$2

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.

$245,000

PROJECTED PRICE

$1,310

PROJECTED RENT

0.53%

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$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$904

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$16,642

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,310

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,319

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,310
1$1,3102$1,3253$1,3504$1,3505$1,400
$1,400
RENT COMPS ANALYSIS
  • 42297 W Sparks Drive Maricopa, AZ 1
    • 3 beds 2 baths ∙ 1,685 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,685 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,310
    • $0.78
    •  
  • 42417 W Desert Fairways Drive Maricopa, AZ 2
    • 4 beds 2 baths ∙ 1,632 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,632 Sqft ∙ Built 2004
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.81
    •  
  • 42656 W Venture Road Maricopa, AZ 3
    • 3 beds 2 baths ∙ 1,824 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,824 Sqft ∙ Built 2003
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.74
    •  
  • 42329 W Bunker Drive Maricopa, AZ 4
    • 3 beds 2 baths ∙ 1,667 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,667 Sqft ∙ Built 2004
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.81
    •  
  • 22463 N Dietz Drive Maricopa, AZ 5
    • 3 beds 2 baths ∙ 1,824 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,824 Sqft ∙ Built 2004
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.77
    •  
PROPERTY LISTING DETAILS
Robert A Gomez
Homlinc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6170522
Last Updated: 12/12/2020
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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