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7240 W Turquoise Avenue Peoria, AZ 85345

3 Beds 2 Baths 1,639 sqft Built 1978

INVESTimate

$229,000

List Price

$1,310

$1,179 - $1,441

Rent Est.

$249,312  ( +8.87%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1978
  • Price/Sqft : $139.72
  • 2 Days on Market
  • MLS # : 6122488
  • Updated Date : 08/25/2020 at 16:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,639 sqft
  • Baths : 2 full
Listing Agent

Property Management Real Estat

Listing Agent's Description

PERFECT HOME IN A PERFECT LOCATION WITH ALL THE AMMENITIES...PRIVATE POOL WITH RV PARKING..BRICK CONSTRUCTION TO HELP WITH BILLS..

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Suntown

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $72k289k

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

Neighborhood: Suntown

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7231793

* 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
Ira A. Murphy Elementary School Primary Regular 519 29 2
Ira A. Murphy Elementary School Middle Regular 519 29 2
Centennial High School High Regular 2,096 85 6

Ira A. Murphy Elementary School

  • Education Level: Primary
  • # of students: 519
  • # of teachers: 29
2
GreatSchools Rating

Ira A. Murphy Elementary School

  • Education Level: Middle
  • # of students: 519
  • # of teachers: 29
2
GreatSchools Rating

Centennial High School

  • Education Level: High
  • # of students: 2,096
  • # of teachers: 85
6
GreatSchools Rating
 

$206,100$251,900$229,000

PURCHASE PRICE

$1,179$1,441$1,310

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,310
EXPENSES Loan Payment -$845
Property Tax -$125
Property Insurance -$59
Property Management Fees -$99
CASH FLOW
$182

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.

$229,000

PROJECTED PRICE

$1,310

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 8.87%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,435

INVESTMENT

$66,435

Down Payment
$57,250
Rehab Estimate
$5,750
Closing Costs
$3,435

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$845

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,250
Loan Amount $171,750
See What Happens When You Reinvest Cash Flow

9.67

YEARS SAVED

$36,716

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,310

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,434

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,2993$1,3104$1,3505$1,385
$1,385
RENT COMPS ANALYSIS
  • 7240 W Turquoise Avenue Peoria, 3
    • 3 beds 2 baths ∙ 1,639 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,639 Sqft ∙ Built 1978
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,310
    • $0.80
    •  
  • 7050 W Palo Verde Avenue Peoria, 1
    • 3 beds 2 baths ∙ 1,469 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,469 Sqft ∙ Built 1985
    property image
    LEASED 11/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.85
    •  
  • 7224 W North Lane Peoria, 2
    • 4 beds 2 baths ∙ 1,600 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,600 Sqft ∙ Built 1972
    property image
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $0.81
    •  
  • 7027 W Palo Verde Avenue Peoria, 4
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1985
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.90
    •  
  • 6935 W Palo Verde Avenue Peoria, 5
    • 3 beds 2 baths ∙ 1,469 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,469 Sqft ∙ Built 1985
    property image
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,385
    • $0.94
    •  
PROPERTY LISTING DETAILS
Joseph Heckel
Property Management Real Estat
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6122488
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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