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7293 N Richard Lane Florence, AZ 85132

3 Beds 2 Baths 1,578 sqft Built 2019

$305,000

List Price

$1,290

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

Built 2019 NEW CONSTRUCTION
November 08, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $193.28
  • 8 Days on Market
  • MLS # : 6158003
  • Updated Date : 11/13/2020 at 12:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,578 sqft
  • Baths : 2 full
Listing Agent

Re/max Solutions

Listing Agent's Description

This is a beautiful, nearly new home with 3 bedrooms & 2 baths. This home has a metal roof with spray foam insulation in the ceiling all for great energy efficiency! 2 car garage plus 2 carports for extra parking and a large RV carport 48'. 3 additional storage sheds/shops. The home has a wonderful kitchen with ample cabinets and counter space with 2 pantries. Upgraded Stainless steel appliances. Upgraded lighting and fans throughout. Wonderful colored concrete floors give it a great feeling and low maintenance. Insta-hot tank-less hot water heater. The beautiful covered patio offers a hot tub and cover with pergola and a great place to entertain! This home has wonderful spaces inside and out for hobbies and room to play! Come see your new home!

SEE MORE

PRICE & RENT TRENDS

Zip Code: 85132

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Zip Code: 85132

ZipNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8621567

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

SCHOOLS

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$274,500$335,500$305,000

PURCHASE PRICE

$1,161$1,419$1,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,290
EXPENSES Loan Payment -$1,125
Property Tax -$152
Property Insurance -$58
Property Management Fees -$99
CASH FLOW
-$144

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$305,000

PROJECTED PRICE

$1,290

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 8.8%
Maintenance Year (1-5) 3.00%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$82,825

INVESTMENT

$82,825

Down Payment
$76,250
Rehab Estimate
$2,000
Closing Costs
$4,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,125

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $76,250
Loan Amount $228,750
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$10,606

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,290

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,278

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,290
1$1,2902$1,2953$1,2954$1,295
$1,295
RENT COMPS ANALYSIS
  • 7293 N Richard Lane Florence, AZ 1
    • 3 beds 2 baths ∙ 1,578 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,578 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $1,290
    • $0.82
    •  
  • 25009 E Chaplain Lane Florence, AZ 2
    • 3 beds 2 baths ∙ 1,593 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,593 Sqft ∙ Built 2019
    LEASED 08/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.81
    •  
  • 24859 E Chaplain Lane Florence, AZ 3
    • 3 beds 2 baths ∙ 1,593 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,593 Sqft ∙ Built 2019
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.81
    •  
  • 24899 E Chaplain Lane Florence, AZ 4
    • 3 beds 2 baths ∙ 1,593 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,593 Sqft ∙ Built 2019
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.81
    •  
PROPERTY LISTING DETAILS
Mitzi Van Meter
Re/max Solutions
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6158003
Last Updated: 11/13/2020
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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