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618 N 112th Drive Avondale, AZ 85323

4 Beds 3 Baths 2,275 sqft Built 2004

$279,048

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $122.66
  • 3 Days on Market
  • MLS # : 6198397
  • Updated Date : 02/26/2021 at 08:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,275 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty

Listing Agent's Description

Nestled in the heart of Avondale Gateway, this two story home has it all!! Fabulous location just minutes from the highly sought ought Gateway Pavilions. This property provides a covered front porch where you can enjoy your morning coffee and a 2 car garage with extra long driveway for more parking space. The inviting interior is comprised of gorgeous den, lovely great room, 4 nice-sized bedrooms, and 2.5 baths. Fantastic kitchen offers high-end appliances, pantry, recessed lighting, and plenty of cabinet/counter space. Beautiful master suite includes walk-in closet and a full bath with dual sinks & separate tub/shower. The paved backyard is the perfect place to spend relaxing evenings. Community has pool, spa, and walking paths. Call for a private viewing today!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Waterford Square

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: Waterford Square

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2850900950100010501100115012001250130013501400145015001550Rent in $8341567

* 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
La Joya Community High School High Regular 2,051 84 1

La Joya Community High School

  • Education Level: High
  • # of students: 2,051
  • # of teachers: 84
1
GreatSchools Rating
 

$251,143$306,953$279,048

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$969
Property Tax -$200
Property Insurance -$72
HOA -$91
Property Management Fees -$99
CASH FLOW
$70

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.

$279,048

PROJECTED PRICE

$1,500

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 6.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,698

INVESTMENT

$79,698

Down Payment
$69,762
Rehab Estimate
$5,750
Closing Costs
$4,186

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$969

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $69,762
Loan Amount $209,286
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$20,765

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $1,632

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,5003$1,5504$1,6155$1,875
$1,875
RENT COMPS ANALYSIS
  • 618 N 112th Drive Avondale, AZ 2
    • 4 beds 3 baths ∙ 2,275 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,275 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.66
    •  
  • 609 N 111th Drive Avondale, AZ 1
    • 4 beds 3 baths ∙ 2,275 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,275 Sqft ∙ Built 2004
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.62
    •  
  • 11586 W Jefferson Street Avondale, AZ 3
    • 4 beds 3 baths ∙ 2,112 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,112 Sqft ∙ Built 2005
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.73
    •  
  • 121 N 110th Drive Avondale, AZ 4
    • 4 beds 2 baths ∙ 2,319 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,319 Sqft ∙ Built 2006
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,615
    • $0.70
    •  
  • 11154 W Baden Street Avondale, AZ 5
    • 4 beds 3 baths ∙ 2,275 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,275 Sqft ∙ Built 2005
    LEASED 02/13/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.82
    •  
PROPERTY LISTING DETAILS
Michael A Searcy
Exp Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6198397
Last Updated: 02/26/2021
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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