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677 E Fairway Drive Litchfield Park, AZ 85340

5 Beds 4 Baths 3,819 sqft Built 1969

$625,000

List Price

$2,800

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1969
  • Price/Sqft : $163.66
  • 3 Days on Market
  • MLS # : 6162915
  • Updated Date : 11/20/2020 at 10:15
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,819 sqft
  • Baths : 4 full
Listing Agent

Western Az Ranch & Real Estate Llc

Listing Agent's Description

Home is located in Historic Litchfield Park and close to Wigwam golf resort.This adobe brick home is 3,819 sq. feet and sits on almost a half acre of land.The owner raised his family here and now it's your turn to enjoy this spacious home in a highly sought after community.Call for an appointment today!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Litchfield Park

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $122k371k

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

Neighborhood: Litchfield Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10451981

* 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
Litchfield Elementary School Primary Regular 820 37 8
Litchfield Elementary School Middle Regular 820 37 8
Millennium High School High Regular 2,205 94 4

Litchfield Elementary School

  • Education Level: Primary
  • # of students: 820
  • # of teachers: 37
8
GreatSchools Rating

Litchfield Elementary School

  • Education Level: Middle
  • # of students: 820
  • # of teachers: 37
8
GreatSchools Rating

Millennium High School

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

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

PURCHASE PRICE

$2,520$3,080$2,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,800
EXPENSES Loan Payment -$2,306
Property Tax -$361
Property Insurance -$102
Property Management Fees -$99
CASH FLOW
-$68

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.

$625,000

PROJECTED PRICE

$2,800

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 7.1%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

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

5

YEARS SAVED

$37,654

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,800

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $3,132

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$3,300
$3,300
RENT COMPS ANALYSIS
  • 677 E Fairway Drive Litchfield Park, AZ 1
    • 5 beds 4 baths ∙ 3,819 Sqft ∙ Built 1969 5 beds 4 baths ∙ 3,819 Sqft ∙ Built 1969
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.73
    •  
  • 1150 N Oro Vista Litchfield Park, AZ 2
    • 4 beds 3 baths ∙ 4,003 Sqft ∙ Built 1980 4 beds 3 baths ∙ 4,003 Sqft ∙ Built 1980
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $0.82
    •  
PROPERTY LISTING DETAILS
Terri Mayfield
Western Az Ranch & Real Estate Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6162915
Last Updated: 11/20/2020
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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