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7606 W Springfield Way Florence, AZ 85132

3 Beds 2 Baths 1,778 sqft Built 2007

$265,000

List Price

$1,240

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $149.04
  • 4 Days on Market
  • MLS # : 6198465
  • Updated Date : 02/26/2021 at 20:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,778 sqft
  • Baths : 2 full
Listing Agent

Southwest Mountain Realty, Llc

Listing Agent's Description

Fabulous Raven 3 bedroom plus DEN (with huge closet--easily converted to bedroom 4) on a private lot backing to green space with many upgrades. Nice open great room layout with rear kitchen--granite counter tops and all appliances. Tile flooring in living space, updated fixtures, window coverings (and sunscreens). Master suite is split from the other bedrooms for privacy and has a door to the patio. Master bath has tub, shower and double sinks, huge walk in closet. Other 2 bedrooms share a hall bath. Laundry room includes W/D. Beautiful backyard landscaping with paver patio. French door to patio from kitchen. Garage has epoxy floor, newer hot water heater and soft water system, extra outlets, exhaust fan (also one in attic). Solar savings! Amazing Anthem Parkside amenities!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Anthem at Merrill Ranch

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $109k271k

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

Neighborhood: Anthem at Merrill Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8971567

* 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
Florence High School High Regular 778 41 4

Florence High School

  • Education Level: High
  • # of students: 778
  • # of teachers: 41
4
GreatSchools Rating
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,116$1,364$1,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,240
EXPENSES Loan Payment -$920
Property Tax -$247
Property Insurance -$62
HOA -$45
Property Management Fees -$99
CASH FLOW
-$133

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$265,000

PROJECTED PRICE

$1,240

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 4.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$920

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$5,647

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,240

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,369

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,195
1$1,1952$1,2403$1,3504$1,3505$1,400
$1,400
RENT COMPS ANALYSIS
  • 7606 W Springfield Way Florence, AZ 2
    • 3 beds 2 baths ∙ 1,778 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,778 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,240
    • $0.70
    •  
  • 7347 W Millerton Way Florence, AZ 1
    • 3 beds 2 baths ∙ 1,449 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,449 Sqft ∙ Built 2006
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.82
    •  
  • 7576 W Millerton Way Florence, AZ 3
    • 4 beds 2 baths ∙ 1,778 Sqft ∙ Built 2008 4 beds 2 baths ∙ 1,778 Sqft ∙ Built 2008
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.76
    •  
  • 7628 W Georgetown Way Florence, AZ 4
    • 3 beds 2 baths ∙ 1,910 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,910 Sqft ∙ Built 2010
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.71
    •  
  • 2374 N Petersburg Drive Florence, AZ 5
    • 3 beds 2 baths ∙ 1,777 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,777 Sqft ∙ Built 2016
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.79
    •  
PROPERTY LISTING DETAILS
Robin M. Drew
Southwest Mountain Realty, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6198465
Last Updated: 02/26/2021
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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