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48154 N 23rd Avenue New River, AZ 85087

3 Beds 2 Baths 1,596 sqft Built 1999

$490,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $307.02
  • 3 Days on Market
  • MLS # : 6172974
  • Updated Date : 12/18/2020 at 17:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,596 sqft
  • Baths : 2 full
Listing Agent

Phantom Realty

Listing Agent's Description

Starry, Starry nights in a superb location with easy access to so much. Territorial/Santa Fe Style with stunning 360-degree views. The color palate of the exterior blends with the desert fauna and is very welcoming. Upon entering you will appreciate the crisp clean interior. Our seller has been continually improving this home since taking ownership. The new kitchen includes slab granite, new cabinetry, stainless appliances, an extension of the granite at the island to allow for a desirable breakfast bar. Seller has also made some architectural improvements and turned the interior into a true great room concept, curved arches, fresh interior paint, carpet, and some window coverings were recently added. ''See More''

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
 

$441,000$539,000$490,000

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$1,808
Property Tax -$332
Property Insurance -$58
Property Management Fees -$99
CASH FLOW
-$607

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.

$490,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.34%

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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$135,600

INVESTMENT

$135,600

Down Payment
$122,500
Rehab Estimate
$5,750
Closing Costs
$7,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,808

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $122,500
Loan Amount $367,500
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$610

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,644

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,690
$1,690
RENT COMPS ANALYSIS
  • 48154 N 23rd Avenue New River, AZ 2
    • 3 beds 2 baths ∙ 1,596 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,596 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $1.06
    •  
  • 47657 N 29th Avenue New River, AZ 1
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1995
    property image
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.03
    •  
PROPERTY LISTING DETAILS
Jacqueline Roersma
Phantom Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6172974
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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