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7307 W Surrey Avenue Peoria, AZ 85381

3 Beds 2 Baths 1,898 sqft Built 1997

INVESTimate

$355,000

List Price

$1,480

$1,332 - $1,628

Rent Est.

$377,542  ( +6.35%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1997
  • Price/Sqft : $187.04
  • 2 Days on Market
  • MLS # : 6122267
  • Updated Date : 08/25/2020 at 08:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,898 sqft
  • Baths : 2 full
Listing Agent

Epic Home Realty

Listing Agent's Description

This Gorgeous 3 BD, 2 BA home in Sweetwater Ridge is move in ready and a must see! Located on a great street, in a desirable neighborhood just walking distance to the nearby park, this home has a split floor plan, a large great room with a cozy gas fireplace and large back windows. The kitchen has a gas cook top, stainless appliances and plenty of cabinets! The covered back patio overlooks the grassy backyard and includes a built-in barbecue, a fire pit and the side storage shed stays. The 2 car garage has built in cabinets in an extended area with room to park your smaller toys! Walk-in closet in the master, cabinets in the laundry room and the washer and dryer are included. The HOA is only $35 per year, this home is priced right and won't last long! WELCOME HOME!

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PRICE & RENT TRENDS

Neighborhood: Sweetwater Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $122k370k

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

Neighborhood: Sweetwater Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10452118

* 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
 

$319,500$390,500$355,000

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$1,310
Property Tax -$193
Property Insurance -$64
HOA -$2
Property Management Fees -$99
CASH FLOW
-$188

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.

$355,000

PROJECTED PRICE

$1,480

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.35%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$99,825

INVESTMENT

$99,825

Down Payment
$88,750
Rehab Estimate
$5,750
Closing Costs
$5,325

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,310

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $88,750
Loan Amount $266,250
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$10,119

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
  • $1,666

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,6503$1,7254$1,7505$1,750
$1,750
RENT COMPS ANALYSIS
  • 7307 W Surrey Avenue Peoria, 1
    • 3 beds 2 baths ∙ 1,898 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,898 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 6784 W Wethersfield Road Peoria, 2
    • 4 beds 2 baths ∙ 1,847 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,847 Sqft ∙ Built 2015
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.89
    •  
  • 7527 W Sweetwater Avenue Peoria, 3
    • 3 beds 2 baths ∙ 1,945 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,945 Sqft ∙ Built 1991
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.89
    •  
  • 7635 W Charter Oak Road Peoria, 4
    • 4 beds 3 baths ∙ 2,050 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,050 Sqft ∙ Built 2010
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.85
    •  
  • 7138 W Bloomfield Road Peoria, 5
    • 3 beds 2 baths ∙ 1,981 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,981 Sqft ∙ Built 1987
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.88
    •  
PROPERTY LISTING DETAILS
Lisa Rivera
Epic Home Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6122267
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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