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624 S 231st Drive Buckeye, AZ 85326

3 Beds 2 Baths 1,889 sqft Built 2005

$310,000

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $164.11
  • 2 Days on Market
  • MLS # : 6203808
  • Updated Date : 03/13/2021 at 19:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,889 sqft
  • Baths : 2 full
Listing Agent

Homesmart Lifestyles

Listing Agent's Description

So much to like about this beautiful single story home in Sundance Adult Village, a 55+ community. This 3 bedroom, 2 bath, 1889 square foot house is surrounded by single story homes. Split floor plan. Vaulted ceilings. Bay windows in owner's suite and kitchen. Separate tub and shower in owner's suite with large walk-in closet. Plenty of granite counter and cabinet space in the kitchen. Newer AC (2019) and water heater (2019). 16 inch tile. Plantation shutters.Sundance Adult Village offers an 18 hole championship golf course, heated pool and spa, tennis courts, club house, fitness classes, lending library, and over 20 clubs to join.The City of Buckeye special assessment tax for this property has been paid off.

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PRICE & RENT TRENDS

Neighborhood: Sundance

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: Sundance

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500Rent in $8011567

* 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
Youngker High School High Regular 1,580 67 3

Youngker High School

  • Education Level: High
  • # of students: 1,580
  • # of teachers: 67
3
GreatSchools Rating
 

$279,000$341,000$310,000

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$1,077
Property Tax -$253
Property Insurance -$64
HOA -$32
Property Management Fees -$99
CASH FLOW
$6

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.

$310,000

PROJECTED PRICE

$1,530

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 9.3%
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$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,077

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$17,613

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,558

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,3953$1,4454$1,5505$1,795
$1,795
RENT COMPS ANALYSIS
  • 624 S 231st Drive Buckeye, AZ 1
    • 3 beds 2 baths ∙ 1,889 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,889 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 22808 W Cantilever Street Buckeye, AZ 2
    • 4 beds 2 baths ∙ 1,831 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,831 Sqft ∙ Built 2004
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.76
    •  
  • 1454 S 228th Lane Buckeye, AZ 3
    • 3 beds 3 baths ∙ 1,811 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,811 Sqft ∙ Built 2003
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $0.80
    •  
  • 22928 W Cocopah Street Buckeye, AZ 4
    • 4 beds 3 baths ∙ 2,035 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,035 Sqft ∙ Built 2004
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.76
    •  
  • 22831 W Mesquite Drive Buckeye, AZ 5
    • 3 beds 2 baths ∙ 1,831 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,831 Sqft ∙ Built 2004
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.98
    •  
PROPERTY LISTING DETAILS
Mike Warren
Homesmart Lifestyles
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6203808
Last Updated: 03/13/2021
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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