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7126 W Corrine Drive Peoria, AZ 85381

4 Beds 3 Baths 2,372 sqft Built 1986

INVESTimate

$395,000

List Price

$1,780

$1,602 - $1,958

Rent Est.

$421,386  ( +6.68%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1986
  • Price/Sqft : $166.53
  • 9 Days on Market
  • MLS # : 6118919
  • Updated Date : 08/25/2020 at 17:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,372 sqft
  • Baths : 2 full , 1 half
Listing Agent

Paramount Management & Realty, Llc

Listing Agent's Description

Outstandingly upgraded Coventry Home. Custom interior cabinets and granite counters throughout the home. New concrete roofing tile with modern effect. 3 car garage space. 12' RV gate. Expanded side gravel parking. Super sized Diving pool with aerators. Upgraded interior lighting and canister lights. Ceiling Fans throughout. Newer carpeting throughout. Custom flooring with entry mosaic. Open kitchen with center island and wrap around counters and upgraded cabinet door hardware. Large covered back patio with new roof and mister system. Removable soft childproof pool fencing. Irrigation systems all around exterior of property. Huge upstairs Master Bedroom. Master bath with split Garden Tub and separate shower. Exterior Low Level Lighting. High output exterior back lighting. Knock down ceiling

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Chesapeake Park

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Chesapeake 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
Oakwood Elementary School Primary Regular 961 40 9
Oakwood Elementary School Middle Regular 961 40 9
Cactus High School High Regular 1,283 61 5

Oakwood Elementary School

  • Education Level: Primary
  • # of students: 961
  • # of teachers: 40
9
GreatSchools Rating

Oakwood Elementary School

  • Education Level: Middle
  • # of students: 961
  • # of teachers: 40
9
GreatSchools Rating

Cactus High School

  • Education Level: High
  • # of students: 1,283
  • # of teachers: 61
5
GreatSchools Rating
 

$355,500$434,500$395,000

PURCHASE PRICE

$1,602$1,958$1,780

RENT

DOWN PAYMENT
FINANCING

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$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,780
EXPENSES Loan Payment -$1,457
Property Tax -$223
Property Insurance -$73
Property Management Fees -$99
CASH FLOW
-$73

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.

$395,000

PROJECTED PRICE

$1,780

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.68%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$110,425

INVESTMENT

$110,425

Down Payment
$98,750
Rehab Estimate
$5,750
Closing Costs
$5,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,457

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $98,750
Loan Amount $296,250
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$21,208

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
  • $1,868

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,5653$1,6954$1,6995$1,795
$1,795
RENT COMPS ANALYSIS
  • 7126 W Corrine Drive Peoria, 1
    • 4 beds 3 baths ∙ 2,372 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,372 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 7366 W Jenan Drive Peoria, 2
    • 4 beds 2 baths ∙ 2,079 Sqft ∙ Built 1985 4 beds 2 baths ∙ 2,079 Sqft ∙ Built 1985
    LEASED 10/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,565
    • $0.75
    •  
  • 7845 W Pershing Avenue Peoria, 3
    • 3 beds 3 baths ∙ 2,197 Sqft ∙ Built 1986 3 beds 3 baths ∙ 2,197 Sqft ∙ Built 1986
    LEASED 09/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.77
    •  
  • 11730 N 74th Drive Peoria, 4
    • 4 beds 2 baths ∙ 2,079 Sqft ∙ Built 1984 4 beds 2 baths ∙ 2,079 Sqft ∙ Built 1984
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $0.82
    •  
  • 7737 W Dreyfus Drive Peoria, 5
    • 3 beds 3 baths ∙ 2,204 Sqft ∙ Built 1985 3 beds 3 baths ∙ 2,204 Sqft ∙ Built 1985
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.81
    •  
PROPERTY LISTING DETAILS
Dave Stringham
Paramount Management & Realty, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6118919
Last Updated: 08/25/2020
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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