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5351 N 191st Drive Litchfield Park, AZ 85340

3 Beds 3 Baths 2,600 sqft Built 2008

$450,000

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $173.08
  • 3 Days on Market
  • MLS # : 6202698
  • Updated Date : 03/06/2021 at 00:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,600 sqft
  • Baths : 3 full
Listing Agent

Conway Real Estate

Listing Agent's Description

Stunning 3 bed 3 bathroom home on prime lot across from greenbelt with mountain views, no neighbors to south, and view fencing to natural desert behind. Pavers flow from covered patio to Pergola area overlooking the pool. Kitchen with staggered cabinets, huge island, Gas range, 2 microwaves, and refrigerator included in a sleek black finish. Kitchen sink views to backyard oasis. Open concept floor plan with charming fireplace and high ceilings. Formal dining with French doors open to side courtyard. Spacious Master with walk-in shower, soaker tub, and large closet. Secondary bedrooms split wings with own baths. Formal living/front office could be converted for extra bedroom options. Laundry with window, sink, gas/electric hookup. Single and Double garage both have interior access. SOLAR!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Jackrabbit Estates

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $109k377k

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

Neighborhood: Jackrabbit Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10182066

* 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
Verrado Middle School Middle Regular 1,060 42 8
Verrado High School High Regular 1,855 74 4

Verrado Middle School

  • Education Level: Middle
  • # of students: 1,060
  • # of teachers: 42
8
GreatSchools Rating

Verrado High School

  • Education Level: High
  • # of students: 1,855
  • # of teachers: 74
4
GreatSchools Rating
 

$405,000$495,000$450,000

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$1,563
Property Tax -$359
Property Insurance -$78
HOA -$147
Property Management Fees -$99
CASH FLOW
-$146

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.

$450,000

PROJECTED PRICE

$2,100

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 5.7%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,563

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$13,734

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,100

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,197

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,1003$2,1404$2,2005$2,300
$2,300
RENT COMPS ANALYSIS
  • 5351 N 191st Drive Litchfield Park, AZ 2
    • 3 beds 3 baths ∙ 2,600 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,600 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.81
    •  
  • 18479 W College Drive Goodyear, AZ 1
    • 4 beds 3 baths ∙ 2,414 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,414 Sqft ∙ Built 2018
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.83
    •  
  • 18339 W Bethany Home Road Litchfield Park, AZ 3
    • 4 beds 3 baths ∙ 2,595 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,595 Sqft ∙ Built 2006
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,140
    • $0.82
    •  
  • 18607 W Oregon Avenue Litchfield Park, AZ 4
    • 4 beds 3 baths ∙ 2,691 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,691 Sqft ∙ Built 2013
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.82
    •  
  • 5534 N 188th Lane Litchfield Park, AZ 5
    • 4 beds 3 baths ∙ 2,525 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,525 Sqft ∙ Built 2019
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.91
    •  
PROPERTY LISTING DETAILS
Paul Enriquez
Conway Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6202698
Last Updated: 03/06/2021
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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