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45809 N 37th Avenue New River, AZ 85087

3 Beds 2 Baths 1,512 sqft Built 2004

$381,000

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $251.98
  • 2 Days on Market
  • MLS # : 6178257
  • Updated Date : 02/13/2021 at 00:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,512 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathaway Homeservices Arizona Properties

Listing Agent's Description

HORSE PROPERTY with VIEWS! You'll feel worlds away from the hustle and bustle of the city, but access to shopping, dining and entertainment is just 10 minutes away! This well maintained home is located on almost two acres with access to trails and the wide open Sonoran Desert just outside your door. Built in 2004 and upgraded and updated by the owner since, the three bedroom, two bath splitmaster, open concept floor plan lives much larger than its 1.512 SF. The home boasts the latest technology with a Biometric Septic System, new AC in 2020, new well pump in May 2019, updated master bath, new Stainless Steel refrigerator, and all tile flooring throughout the home. 40 panel horse corral, metal framed shade structure and large, level horse trailer parking area on property.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: New River

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $122k381k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: New River

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100220023002400Rent in $10452423

* 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
New River Elementary School Primary Regular 275 21 6
New River Elementary School Middle Regular 275 21 6
Boulder Creek High School High Regular 2,639 105 6

New River Elementary School

  • Education Level: Primary
  • # of students: 275
  • # of teachers: 21
6
GreatSchools Rating

New River Elementary School

  • Education Level: Middle
  • # of students: 275
  • # of teachers: 21
6
GreatSchools Rating

Boulder Creek High School

  • Education Level: High
  • # of students: 2,639
  • # of teachers: 105
6
GreatSchools Rating
 

$342,900$419,100$381,000

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$1,323
Property Tax -$258
Property Insurance -$57
Property Management Fees -$99
CASH FLOW
-$177

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$381,000

PROJECTED PRICE

$1,560

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
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-$4.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,715

INVESTMENT

$106,715

Down Payment
$95,250
Rehab Estimate
$5,750
Closing Costs
$5,715

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,323

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $95,250
Loan Amount $285,750
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$9,146

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,452

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,5503$1,6754$1,7005$1,750
$1,750
RENT COMPS ANALYSIS
  • 45809 N 37th Avenue New River, AZ 1
    • 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 47657 N 29th Avenue New River, AZ 2
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1995
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.03
    •  
  • 43337 N Heavenly Way Anthem, AZ 3
    • 4 beds 2 baths ∙ 1,827 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,827 Sqft ∙ Built 2005
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.92
    •  
  • 43264 N Vista Hills Drive Anthem, AZ 4
    • 4 beds 2 baths ∙ 1,827 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,827 Sqft ∙ Built 2005
    LEASED 12/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.93
    •  
  • 43362 N Vista Hills Drive Anthem, AZ 5
    • 4 beds 2 baths ∙ 1,827 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,827 Sqft ∙ Built 2005
    LEASED 09/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.96
    •  
PROPERTY LISTING DETAILS
Debra Ecker
Berkshire Hathaway Homeservices Arizona Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6178257
Last Updated: 02/13/2021
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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