Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

650 N 157th Drive Goodyear, AZ 85338

4 Beds 3 Baths 2,246 sqft Built 2017

$379,995

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $169.19
  • 4 Days on Market
  • MLS # : 6159323
  • Updated Date : 11/14/2020 at 19:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,246 sqft
  • Baths : 3 full
Listing Agent

Homesmart

Listing Agent's Description

*OPEN HOUSE 11/14, 11/15 8a-12p*Beautiful newer 4 bed 3 bath ranch style home on a premium corner lot. This 2,246 Sq ft home features an open floor plan perfect for entertaining. The large kitchen features dark cabinetry, granite countertops, tile backsplash, gas cooktop pantry, stainless steel appliances, a double wall oven and a new smart refrigerator. Tile floors throughout and carpet in the bedrooms. There is a brand new paver extended patio with a Gazebo with a built in BBQ prep area. There is still room for a future pool. Upgraded 8 ft garages for your larger vehicles and toys. This home is directly across the street from the community park. Close proximity to I10 and 303, shopping, Goodyear ballpark and new Goodyear water rec facility opening summer 2021. HOME WILL NOT LAST ACT NOW

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Travis Park

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $83k334k

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

Neighborhood: Travis Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8621722

* 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 Thunder School Primary Regular 636 26 5
Desert Thunder School Middle Regular 636 26 5
Desert Edge High School High Regular 1,744 80 3

Desert Thunder School

  • Education Level: Primary
  • # of students: 636
  • # of teachers: 26
5
GreatSchools Rating

Desert Thunder School

  • Education Level: Middle
  • # of students: 636
  • # of teachers: 26
5
GreatSchools Rating

Desert Edge High School

  • Education Level: High
  • # of students: 1,744
  • # of teachers: 80
3
GreatSchools Rating
 

$341,996$417,995$379,995

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$1,402
Property Tax -$257
Property Insurance -$71
HOA -$74
Property Management Fees -$99
CASH FLOW
-$193

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.

$379,995

PROJECTED PRICE

$1,710

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 6.7%
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$1.2M

PROJECTED ANNUAL CASH FLOW

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

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$106,449

INVESTMENT

$106,449

Down Payment
$94,999
Rehab Estimate
$5,750
Closing Costs
$5,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,402

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $94,999
Loan Amount $284,996
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$10,731

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,814

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7103$1,7504$1,7955$1,800
$1,800
RENT COMPS ANALYSIS
  • 650 N 157th Drive Goodyear, AZ 2
    • 4 beds 3 baths ∙ 2,246 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,246 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.76
    •  
  • 16175 W Latham Street Goodyear, AZ 1
    • 4 beds 3 baths ∙ 2,038 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,038 Sqft ∙ Built 2002
    property image
    LEASED 09/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.83
    •  
  • 31 N 163rd Drive Goodyear, AZ 3
    • 3 beds 2 baths ∙ 2,313 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,313 Sqft ∙ Built 2002
    property image
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.76
    •  
  • 16267 W Monroe Street Goodyear, AZ 4
    • 4 beds 3 baths ∙ 2,205 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,205 Sqft ∙ Built 2000
    property image
    LEASED 11/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.81
    •  
  • 15361 W Jefferson Street Goodyear, AZ 5
    • 4 beds 2 baths ∙ 2,171 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,171 Sqft ∙ Built 2004
    property image
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.83
    •  
PROPERTY LISTING DETAILS
Alfonso Simental
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6159323
Last Updated: 11/14/2020
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.

BESbswy