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42457 W Sparks Drive Maricopa, AZ 85138

3 Beds 2 Baths 1,956 sqft Built 2003

$324,900

List Price

$1,300

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $166.10
  • 2 Days on Market
  • MLS # : 6157562
  • Updated Date : 11/06/2020 at 20:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,956 sqft
  • Baths : 2 full
Listing Agent

Homesmart Success

Listing Agent's Description

Amazing 1-story home with a BRAND NEW POOL in the golf course community of Rancho El Dorado!! The floor plan features vaulted ceilings, separate living and family rooms, and an open kitchen with island and breakfast bar. 3 large bedrooms, and the den has doors so it could easily be a 4th bedroom. The master has a separate shower and jetted tub, and a private exit to the patio. Many items were recently replaced, including the HVAC system (2016), water softener (2019), wifi garage door opener (2020), black stainless kitchen appliances (2019) and water heater (2016). Upgraded swimming pool with Pebble-tec interior, in-floor cleaning system, Grotto with waterslide, and UV Light filtration system instead of traditional chlorine, and it's surrounded by travetine pavers and artificial turf

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
 

$292,410$357,390$324,900

PURCHASE PRICE

$1,170$1,430$1,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,300
EXPENSES Loan Payment -$1,199
Property Tax -$304
Property Insurance -$65
HOA -$15
Property Management Fees -$99
CASH FLOW
-$381

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.

$324,900

PROJECTED PRICE

$1,300

PROJECTED RENT

0.40%

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

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,849

INVESTMENT

$91,849

Down Payment
$81,225
Rehab Estimate
$5,750
Closing Costs
$4,874

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,225
Loan Amount $243,675
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$694

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,300

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $1,408

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3503$1,3504$1,4505$1,450
$1,450
RENT COMPS ANALYSIS
  • 42457 W Sparks Drive Maricopa, AZ 1
    • 3 beds 2 baths ∙ 1,956 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,956 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.66
    •  
  • 43447 W Sunland Drive Maricopa, AZ 2
    • 3 beds 2 baths ∙ 1,938 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,938 Sqft ∙ Built 2005
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.70
    •  
  • 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
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.74
    •  
  • 22118 N Lakeside Drive Maricopa, AZ 4
    • 3 beds 2 baths ∙ 2,131 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,131 Sqft ∙ Built 2004
    property image
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.68
    •  
  • 41910 W Frost Drive Maricopa, AZ 5
    • 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
David Morgan
Homesmart Success
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6157562
Last Updated: 11/06/2020
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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