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841 E Granada Avenue Apache Junction, AZ 85119

4 Beds 2 Baths 1,586 sqft Built 1996

INVESTimate

$275,000

List Price

$1,510

$1,359 - $1,661

Rent Est.

$311,438  ( +13.25%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 1996
  • Price/Sqft : $173.39
  • 3 Days on Market
  • MLS # : 6121830
  • Updated Date : 08/24/2020 at 11:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,586 sqft
  • Baths : 2 full
Listing Agent

Southwest Mountain Realty, Llc

Listing Agent's Description

This move in ready 4 bedroom, 2 bath home on a huge (over 10,000 sq ft) fully fenced lot has NO HOA, an RV gate AND 2 car garage. Fantastic location with easy access to the 60. Established neighborhood. Great landscaping front and back with covered patio and grass in back plus a shed for extra storage. The kitchen and dining areas are open to the living room, yet still separated. Laundry room has extra storage. Brand new carpeting. Well maintained by the original owners.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Palm Springs

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k285k

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

Neighborhood: Palm Springs

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500Rent in $8201567

* 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
Peralta Trail Elementary School Primary Regular 443 25 8
Peralta Trail Elementary School Middle Regular 443 25 8
Apache Junction High School High Regular 1,304 69 3

Peralta Trail Elementary School

  • Education Level: Primary
  • # of students: 443
  • # of teachers: 25
8
GreatSchools Rating

Peralta Trail Elementary School

  • Education Level: Middle
  • # of students: 443
  • # of teachers: 25
8
GreatSchools Rating

Apache Junction High School

  • Education Level: High
  • # of students: 1,304
  • # of teachers: 69
3
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$1,015
Property Tax -$194
Property Insurance -$58
Property Management Fees -$99
CASH FLOW
$144

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.

$275,000

PROJECTED PRICE

$1,510

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 13.25%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

8.25

YEARS SAVED

$34,868

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,558

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3753$1,3954$1,5005$1,510
$1,510
RENT COMPS ANALYSIS
  • 841 E Granada Avenue Apache Junction, 5
    • 4 beds 2 baths ∙ 1,586 Sqft ∙ Built 1996 4 beds 2 baths ∙ 1,586 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.95
    •  
  • 2316 E Yuma Avenue Apache Junction, 1
    • 3 beds 2 baths ∙ 1,559 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,559 Sqft ∙ Built 2015
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.87
    •  
  • 1679 S Stetson Court Apache Junction, 2
    • 3 beds 2 baths ∙ 1,302 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,302 Sqft ∙ Built 2004
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $1.06
    •  
  • 1050 E Santa Cruz Lane Apache Junction, 3
    • 3 beds 2 baths ∙ 1,336 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,336 Sqft ∙ Built 1998
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.04
    •  
  • 899 E Pima Avenue Apache Junction, 4
    • 3 beds 2 baths ∙ 1,565 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,565 Sqft ∙ Built 1998
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.96
    •  
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 #: 6121830
Last Updated: 08/24/2020
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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