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7632 W North Lane Peoria, AZ 85345

4 Beds 3 Baths 2,517 sqft Built 1989

$359,999

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $143.03
  • 3 Days on Market
  • MLS # : 6160276
  • Updated Date : 11/14/2020 at 21:27
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,517 sqft
  • Baths : 3 full
Listing Agent

Homesmart

Listing Agent's Description

Dreaming of a home on a LARGE CUL de SAC LOT, NO HOA, and a HUGE DIVING POOL? Then this is your next home! Add an RV gate to STORE BIG TOYS or WORK EQUIPMENT in the big side yard. You'll still have plenty of room for play equipment and to entertain poolside. Spacious formal living/dining plus family room with cozy fireplace. Enclosed AZ room with tiled floor makes a great play room, home school space, or work-out area. Main floor bedroom with nearby full bath is perfect for guests, home office or in-law quarters. GAS COOKING, heating and hot water, plus major WINDOWS WERE REPLACED for added ENERGY EFFICIENCY. DUCTWORK was inspected and professionally SEALED. Wide staircase leads to two secondary bedrooms, hall bath, and master suite with generous walk-in closet. PREPARE TO FALL IN LOVE!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Westfield Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $95k289k

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

Neighborhood: Westfield Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8911793

* 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
Santa Fe Elementary School Primary Regular 746 40 6
Santa Fe Elementary School Middle Regular 746 40 6
Peoria High School High Regular 1,511 67 3

Santa Fe Elementary School

  • Education Level: Primary
  • # of students: 746
  • # of teachers: 40
6
GreatSchools Rating

Santa Fe Elementary School

  • Education Level: Middle
  • # of students: 746
  • # of teachers: 40
6
GreatSchools Rating

Peoria High School

  • Education Level: High
  • # of students: 1,511
  • # of teachers: 67
3
GreatSchools Rating
 

$323,999$395,999$359,999

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,328
Property Tax -$196
Property Insurance -$76
Property Management Fees -$99
CASH FLOW
$51

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.

$359,999

PROJECTED PRICE

$1,750

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 9.3%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,150

INVESTMENT

$101,150

Down Payment
$90,000
Rehab Estimate
$5,750
Closing Costs
$5,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,328

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $90,000
Loan Amount $269,999
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$32,436

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
  • $1,774

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,5753$1,5954$1,6005$1,650
$1,650
RENT COMPS ANALYSIS
  • 7632 W North Lane Peoria, AZ 1
    • 4 beds 3 baths ∙ 2,517 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,517 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 7619 W Brown Street Peoria, AZ 2
    • 3 beds 2 baths ∙ 2,257 Sqft ∙ Built 1988 3 beds 2 baths ∙ 2,257 Sqft ∙ Built 1988
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.70
    •  
  • 10463 N 76th Drive Peoria, AZ 3
    • 5 beds 3 baths ∙ 2,414 Sqft ∙ Built 1993 5 beds 3 baths ∙ 2,414 Sqft ∙ Built 1993
    LEASED 06/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.66
    •  
  • 11547 N 85th Drive Peoria, AZ 4
    • 4 beds 2 baths ∙ 2,228 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,228 Sqft ∙ Built 2001
    LEASED 07/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.72
    •  
  • 8585 W Sierra Street Peoria, AZ 5
    • 3 beds 2 baths ∙ 2,228 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,228 Sqft ∙ Built 2001
    LEASED 04/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.74
    •  
PROPERTY LISTING DETAILS
Michele Tennyson
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6160276
Last Updated: 11/14/2020
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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