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7403 W Fargo Drive Peoria, AZ 85382

4 Beds 3 Baths 1,787 sqft Built 2005

$325,000

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $181.87
  • 3 Days on Market
  • MLS # : 6184360
  • Updated Date : 01/22/2021 at 16:32
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,787 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homesmart

Listing Agent's Description

Welcome to the Gated Community of Running Horse at Arrowhead! Upgraded 4BR, 2.5BA home. Beautiful hardwood floors, current paint colors, Cabinets re-finished. Newer kitchen appliances. Washer and dryer are on pedestals for additional storage. Powder room on the main floor & extra storage under stairs. Upstairs Master has a walk-in closet, separate tub and shower, & double sinks. Three additional bedrooms PLUS another full bath. RO & Soft Water system. Covered Patio + Grassy back yard with a drip & sprinkler system. Backs to common area. HOA maintains front. Community pool & play park with slides & climbing apparatus. Great location to Arrowhead Mall, restaurants, Peoria Sports Complex, Arizona Broadway Theater, and close to freeways. Showings only Friday thru Sunday.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Running Horse at Arrowhead

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $95k358k

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

Neighborhood: Running Horse at Arrowhead

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9691981

* 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
Paseo Verde Elementary School Primary Regular 840 43 7
Paseo Verde Elementary School Middle Regular 840 43 7
Cactus High School High Regular 1,283 61 5

Paseo Verde Elementary School

  • Education Level: Primary
  • # of students: 840
  • # of teachers: 43
7
GreatSchools Rating

Paseo Verde Elementary School

  • Education Level: Middle
  • # of students: 840
  • # of teachers: 43
7
GreatSchools Rating

Cactus High School

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

$292,500$357,500$325,000

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$1,129
Property Tax -$192
Property Insurance -$62
HOA -$128
Property Management Fees -$99
CASH FLOW
-$60

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.

$325,000

PROJECTED PRICE

$1,550

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.6%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$12,469

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,555

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,545
1$1,5452$1,5503$1,5504$1,5955$1,595
$1,595
RENT COMPS ANALYSIS
  • 7403 W Fargo Drive Peoria, AZ 3
    • 4 beds 3 baths ∙ 1,787 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,787 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.87
    •  
  • 7385 W Fargo Drive Peoria, AZ 1
    • 4 beds 3 baths ∙ 1,787 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,787 Sqft ∙ Built 2006
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $0.86
    •  
  • 15996 N 73rd Lane Peoria, AZ 2
    • 4 beds 3 baths ∙ 1,787 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,787 Sqft ∙ Built 2006
    LEASED 11/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.87
    •  
  • 16054 N 74th Drive Peoria, AZ 4
    • 4 beds 3 baths ∙ 1,787 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,787 Sqft ∙ Built 2005
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.89
    •  
  • 15825 N 74th Avenue Peoria, AZ 5
    • 4 beds 3 baths ∙ 1,855 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,855 Sqft ∙ Built 2006
    LEASED 12/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.86
    •  
PROPERTY LISTING DETAILS
David C Fernandez
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6184360
Last Updated: 01/22/2021
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. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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