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8362 W Morrow Drive Peoria, AZ 85382

3 Beds 3 Baths 2,171 sqft Built 1994

$495,000

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $228.01
  • 6 Days on Market
  • MLS # : 6164244
  • Updated Date : 11/25/2020 at 09:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,171 sqft
  • Baths : 2 full , 1 half
Listing Agent

West Usa Realty

Listing Agent's Description

This home is to die for! It's on a large cul-de-sac lot with plenty of room to spread out. You'll be able to sit out on your extended patio area, and enjoy your morning cup of coffee as you prepare for your day. The home boasts high end Amish built cabinets, beautiful floors, and plantation shutters throughout the home.. It's close to shopping and dining in the Arrowhead area of Peoria. This home has been meticulously cared for, with personal touches of class in all the right spots. You'll want to see it soon, because this one simply won't last.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Torrey Pines at Westbrook Village

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $109k360k

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

Neighborhood: Torrey Pines at Westbrook Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700Rent in $10181793

* 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
Apache Elementary School Primary Regular 756 38 8
Apache Elementary School Middle Regular 756 38 8
Sunrise Mountain High School High Regular 1,675 72 7

Apache Elementary School

  • Education Level: Primary
  • # of students: 756
  • # of teachers: 38
8
GreatSchools Rating

Apache Elementary School

  • Education Level: Middle
  • # of students: 756
  • # of teachers: 38
8
GreatSchools Rating

Sunrise Mountain High School

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

$445,500$544,500$495,000

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,826
Property Tax -$269
Property Insurance -$70
HOA -$5
Property Management Fees -$99
CASH FLOW
-$358

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.

$495,000

PROJECTED PRICE

$1,910

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.9%
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-$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$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$136,925

INVESTMENT

$136,925

Down Payment
$123,750
Rehab Estimate
$5,750
Closing Costs
$7,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,826

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $123,750
Loan Amount $371,250
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$9,542

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,965

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,6953$1,8004$1,9005$1,910
$1,910
RENT COMPS ANALYSIS
  • 8362 W Morrow Drive Peoria, AZ 5
    • 3 beds 3 baths ∙ 2,171 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,171 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.88
    •  
  • 8903 W Alda Way Peoria, AZ 1
    • 4 beds 2 baths ∙ 1,881 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,881 Sqft ∙ Built 2004
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.90
    •  
  • 8338 W Morningside Drive Peoria, AZ 2
    • 4 beds 2 baths ∙ 1,908 Sqft ∙ Built 1994 4 beds 2 baths ∙ 1,908 Sqft ∙ Built 1994
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.89
    •  
  • 7983 W Tonopah Drive Peoria, AZ 3
    • 3 beds 2 baths ∙ 1,957 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,957 Sqft ∙ Built 1998
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.92
    •  
  • 8378 W Pontiac Drive Peoria, AZ 4
    • 4 beds 2 baths ∙ 2,082 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,082 Sqft ∙ Built 2002
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.91
    •  
PROPERTY LISTING DETAILS
Ryan N Battin
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6164244
Last Updated: 11/25/2020
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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