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7135 E Desert Spoon Lane Gold Canyon, AZ 85118

2 Beds 2 Baths 2,230 sqft Built 1998

$410,000

List Price

$2,420

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $183.86
  • 3 Days on Market
  • MLS # : 6167599
  • Updated Date : 12/04/2020 at 20:27
CONSTRUCTION
  • Beds : 2
  • Floor Size : 2,230 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

This fabulous home has hardly been lived in - the original owner has taken meticulous care! Freshly painted in 2020 and new LVP(luxury vinyl plank) flooring was installed in 2019. The kitchen has granite countertops and GE Profile stainless steel appliances. Lots of storage in this open floor plan home! Plus, furnishings included! You can enjoy all of the great amenities at Mountainbrook!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Gold Canyon

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Gold Canyon

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10391981

* 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
Peralta Trail Elementary School Primary Regular 443 25 8
Peralta Trail Elementary School Middle Regular 443 25 8
Apache Junction High School High Regular 1,304 69 3

Peralta Trail Elementary School

  • Education Level: Primary
  • # of students: 443
  • # of teachers: 25
8
GreatSchools Rating

Peralta Trail Elementary School

  • Education Level: Middle
  • # of students: 443
  • # of teachers: 25
8
GreatSchools Rating

Apache Junction High School

  • Education Level: High
  • # of students: 1,304
  • # of teachers: 69
3
GreatSchools Rating
 

$369,000$451,000$410,000

PURCHASE PRICE

$2,178$2,662$2,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,420
EXPENSES Loan Payment -$1,513
Property Tax -$321
Property Insurance -$71
HOA -$13
Property Management Fees -$99
CASH FLOW
$404

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.

$410,000

PROJECTED PRICE

$2,420

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.8%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$114,400

INVESTMENT

$114,400

Down Payment
$102,500
Rehab Estimate
$5,750
Closing Costs
$6,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,513

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $102,500
Loan Amount $307,500
See What Happens When You Reinvest Cash Flow

10.42

YEARS SAVED

$74,103

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
  • $3,055

    COMP ESTIMATED VALUE
  • $1.37

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,000
$3,000
RENT COMPS ANALYSIS
  • 7135 E Desert Spoon Lane Gold Canyon, AZ 1
    • 2 beds 2 baths ∙ 2,230 Sqft ∙ Built 1998 2 beds 2 baths ∙ 2,230 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3078 S Primrose Court Gold Canyon, AZ 2
    • 2 beds 2 baths ∙ 2,189 Sqft ∙ Built 2007 2 beds 2 baths ∙ 2,189 Sqft ∙ Built 2007
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.37
    •  
PROPERTY LISTING DETAILS
Judy M. Smee
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6167599
Last Updated: 12/04/2020
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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