Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

8221 W Harmony Lane Peoria, AZ 85382

3 Beds 2 Baths 1,852 sqft Built 1999

$369,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1999
  • Price/Sqft : $199.24
  • 5 Days on Market
  • MLS # : 6153706
  • Updated Date : 11/01/2020 at 11:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,852 sqft
  • Baths : 2 full
Listing Agent

White Star Realty &development

Listing Agent's Description

A must see! Remodeled, 'Gorgeous,' light & bright 3 bed, 2 bath, family home featuring, vaulted ceilings, new 18 x18 neutral tile floors, all new paint, carpet & pad, new bath vanity, all new light fixtures, SS apps & sink w/ garden faucet, plenty of counter space & lg breakfast bar for entertaining family & friends, lighted built in entertainment area in family room, lg bay window, vaulted ceilings / plant shelves in Master, lg soaking tub with separate shower, private water closet, new dual flush toilet, & dual sinks in spa like master bath, spacious walk-in closet, lg cvd patio, ext cmnt patio, lg pool ready back yard, awesome 3 car garage, new epoxy floors, newer water heater.Near 101, shopping, restaurants, Arrowhead Mall, Westgate & Cardinal stadium not far.Welcome Home!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Fletcher Heights

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Fletcher Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10451981

* 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
Frontier Elementary School Primary Regular 944 44 9
Frontier Elementary School Middle Regular 944 44 9
Sunrise Mountain High School High Regular 1,675 72 7

Frontier Elementary School

  • Education Level: Primary
  • # of students: 944
  • # of teachers: 44
9
GreatSchools Rating

Frontier Elementary School

  • Education Level: Middle
  • # of students: 944
  • # of teachers: 44
9
GreatSchools Rating

Sunrise Mountain High School

  • Education Level: High
  • # of students: 1,675
  • # of teachers: 72
7
GreatSchools Rating
 

$332,100$405,900$369,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$1,361
Property Tax -$251
Property Insurance -$63
HOA -$13
Property Management Fees -$99
CASH FLOW
-$108

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.

$369,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.6%
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-$5.0k$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,535

INVESTMENT

$103,535

Down Payment
$92,250
Rehab Estimate
$5,750
Closing Costs
$5,535

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,361

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $92,250
Loan Amount $276,750
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$15,968

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,741

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5953$1,5954$1,6805$1,795
$1,795
RENT COMPS ANALYSIS
  • 8221 W Harmony Lane Nw Peoria, AZ 4
    • 3 beds 2 baths ∙ 1,852 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,852 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.91
    •  
  • 21221 N 79th Drive Peoria, AZ 1
    • 3 beds 2 baths ∙ 1,751 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,751 Sqft ∙ Built 1998
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.89
    •  
  • 8139 W Mary Ann Drive Peoria, AZ 2
    • 4 beds 2 baths ∙ 1,685 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,685 Sqft ∙ Built 1999
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.95
    •  
  • 8473 W Monona Lane Peoria, AZ 3
    • 4 beds 2 baths ∙ 1,685 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,685 Sqft ∙ Built 2002
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.95
    •  
  • 21120 N 82nd Lane Peoria, AZ 5
    • 3 beds 2 baths ∙ 1,852 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,852 Sqft ∙ Built 2001
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.97
    •  
PROPERTY LISTING DETAILS
Linda S Adair
White Star Realty &development
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6153706
Last Updated: 11/01/2020
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.

BESbswy