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5836 N Milano Drive Litchfield Park, AZ 85340

4 Beds 3 Baths 2,166 sqft Built 2002

$315,000

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $145.43
  • 2 Days on Market
  • MLS # : 6201919
  • Updated Date : 03/06/2021 at 08:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,166 sqft
  • Baths : 3 full
Listing Agent

Re/max Excalibur

Listing Agent's Description

Dreaming Summit has a huge park at 137th Av with playground, basketball court, baseball & soccer fields, a nature trail & more. This 4 bedroom, 3 bath home features a separate Living & Family room which opens to the large eat in kitchen. 1 bedroom & bath on the first floor, Master suite, 2 bedrooms & baths upstairs. Private lot. NO neighbors behind you and mountain views from the back yard! The HVAC system was new in 2015. Yard drip system heads replaced 6 months ago. 1 shed stays with the home.You'll appreciate the Solar Panels on a 20 year lease with payments of only $149.45 for all 20 years, the lease started June 2013. No showings until Sat, March 6. Owner needs possession until June 10th.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Dreaming Summit

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Dreaming Summit

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10361981

* 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
Dreaming Summit Elementary School Primary Regular 837 36 7
Millennium High School High Regular 2,205 94 4

Dreaming Summit Elementary School

  • Education Level: Primary
  • # of students: 837
  • # of teachers: 36
7
GreatSchools Rating

Millennium High School

  • Education Level: High
  • # of students: 2,205
  • # of teachers: 94
4
GreatSchools Rating
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$1,094
Property Tax -$199
Property Insurance -$69
HOA -$117
Property Management Fees -$99
CASH FLOW
$42

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.

$315,000

PROJECTED PRICE

$1,620

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.3%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,094

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$19,578

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,706

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,620
1$1,6202$1,7003$1,7504$1,7505$1,750
$1,750
RENT COMPS ANALYSIS
  • 5836 N Milano Drive Litchfield Park, AZ 1
    • 4 beds 3 baths ∙ 2,166 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,166 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.75
    •  
  • 13426 W Rovey Avenue Litchfield Park, AZ 2
    • 3 beds 3 baths ∙ 2,235 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,235 Sqft ∙ Built 2003
    LEASED 01/13/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.76
    •  
  • 13812 W Palo Verde Drive Litchfield Park, AZ 3
    • 4 beds 3 baths ∙ 2,166 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,166 Sqft ∙ Built 2002
    LEASED 04/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.81
    •  
  • 5521 N Castano Drive Litchfield Park, AZ 4
    • 4 beds 2 baths ∙ 2,205 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,205 Sqft ∙ Built 2002
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.79
    •  
  • 5513 N Castano Drive Litchfield Park, AZ 5
    • 4 beds 2 baths ∙ 2,205 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,205 Sqft ∙ Built 2003
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.79
    •  
PROPERTY LISTING DETAILS
Susan B Salamone
Re/max Excalibur
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6201919
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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