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5506 E Southern Avenue Apache Junction, AZ 85119

4 Beds 2 Baths 2,297 sqft Built 2017

$625,000

List Price

$3,050

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $272.09
  • 5 Days on Market
  • MLS # : 6158594
  • Updated Date : 11/13/2020 at 12:13
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,297 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Looking for room to roam? Great Mountain Views? Need a place to park your toys? LOOK NO FURTHER! This great, ''like new'' home is on 1.75 acres with lots of room for a shop or whatever you want! The interior is perfect! The Great-Room style floor plan has high ceilings and is light and airy. Kitchen features stainless appliances and dark cabinetry with granite countertops. Master bedroom and office are on the opposite side of the house from the secondary bedrooms and the 4 car garage with over-height doors. Both bathrooms are large and feature double sinks in granite tops. The large covered back patio is surrounded by a wall to separate it from the rest of the yard, and has artificial turf and a built in gas firepit surrounded by pavers. Front Bedroom is designed as an office w/a closet.

SEE MORE

PRICE & RENT TRENDS

Zip Code: 85119

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $104k285k

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

Zip Code: 85119

ZipNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $9001567

* 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
Desert Vista Elementary School Primary Regular 697 34 4
Cactus Canyon Junior High School Middle Regular 780 40 4
Apache Junction High School High Regular 1,304 69 3

Desert Vista Elementary School

  • Education Level: Primary
  • # of students: 697
  • # of teachers: 34
4
GreatSchools Rating

Cactus Canyon Junior High School

  • Education Level: Middle
  • # of students: 780
  • # of teachers: 40
4
GreatSchools Rating

Apache Junction High School

  • Education Level: High
  • # of students: 1,304
  • # of teachers: 69
3
GreatSchools Rating
 

$562,500$687,500$625,000

PURCHASE PRICE

$2,745$3,355$3,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,050
EXPENSES Loan Payment -$2,306
Property Tax -$457
Property Insurance -$72
Property Management Fees -$99
CASH FLOW
$116

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.

$625,000

PROJECTED PRICE

$3,050

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 8.3%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$171,375

INVESTMENT

$171,375

Down Payment
$156,250
Rehab Estimate
$5,750
Closing Costs
$9,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$2,306

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $156,250
Loan Amount $468,750
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$58,444

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,050

    LIST RENT
  • $1.33

    LIST RENT PER SQFT
  • $2,998

    COMP ESTIMATED VALUE
  • $1.31

    COMP AVG. RENT PER SQFT
Comps Range
$2,395
1$2,3952$3,0503$3,750
$3,750
RENT COMPS ANALYSIS
  • 5506 E Southern Avenue Apache Junction, AZ 2
    • 4 beds 2 baths ∙ 2,297 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,297 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $3,050
    • $1.33
    •  
  • 4324 S Primrose Drive Gold Canyon, AZ 1
    • 3 beds 2 baths ∙ 2,300 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,300 Sqft ∙ Built 2002
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.04
    •  
  • 7731 E Golden Eagle Circle Gold Canyon, AZ 3
    • 3 beds 3 baths ∙ 2,381 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,381 Sqft ∙ Built 2002
    LEASED 12/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,750
    • $1.57
    •  
PROPERTY LISTING DETAILS
John Gordon
Coldwell Banker Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6158594
Last Updated: 11/13/2020
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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