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856 E Friar Avenue Apache Junction, AZ 85119

2 Beds 1 Baths 864 sqft Built 1960

$240,000

List Price

$1,150

$1K - $1.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $277.78
  • 4 Days on Market
  • MLS # : 6201839
  • Updated Date : 03/06/2021 at 04:59
CONSTRUCTION
  • Beds : 2
  • Floor Size : 864 sqft
  • Baths : 1 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Great 2 bed 1 bath home on huge lot! Large workshop/storage in back yard. Home was fully remodeled in 2020 including new appliances, HVAC system including ducting, floors, cabinetry and kitchen! Newer energy efficient dual pane windows in a block home makes for low energy bills! Bonus AZ room off back of kitchen still needs finished. also storage off carport. This is a great starter or retirement home in a quiet well established neighborhood!

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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
Cactus Canyon Junior High School Middle Regular 780 40 4
Apache Junction High School High Regular 1,304 69 3

Cactus Canyon Junior High School

  • Education Level: Middle
  • # of students: 780
  • # of teachers: 40
4
GreatSchools Rating

Apache Junction High School

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

$216,000$264,000$240,000

PURCHASE PRICE

$1,035$1,265$1,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,150
EXPENSES Loan Payment -$834
Property Tax -$128
Property Insurance -$44
Property Management Fees -$99
CASH FLOW
$45

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.

$240,000

PROJECTED PRICE

$1,150

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 13.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$834

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$18,504

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,150

    LIST RENT
  • $1.33

    LIST RENT PER SQFT
  • $1,140

    COMP ESTIMATED VALUE
  • $1.32

    COMP AVG. RENT PER SQFT
Comps Range
$899
1$8992$9753$1,1504$1,295
$1,295
RENT COMPS ANALYSIS
  • 856 E Friar Avenue Apache Junction, AZ 3
    • 2 beds 1 baths ∙ 864 Sqft ∙ Built 1960 2 beds 1 baths ∙ 864 Sqft ∙ Built 1960
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $1.33
    •  
  • 320 S Main Drive Apache Junction, AZ 1
    • 2 beds 1 baths ∙ 700 Sqft ∙ Built 1950 2 beds 1 baths ∙ 700 Sqft ∙ Built 1950
    property image
    LEASED 03/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $899
    • $1.28
    •  
  • 515 E Hondo Avenue #d Apache Junction, AZ 2
    • 2 beds 1 baths ∙ 672 Sqft ∙ Built 1979 2 beds 1 baths ∙ 672 Sqft ∙ Built 1979
    property image
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $975
    • $1.45
    •  
  • 257 N Thunderbird Drive Apache Junction, AZ 4
    • 2 beds 1 baths ∙ 1,053 Sqft ∙ Built 1970 2 beds 1 baths ∙ 1,053 Sqft ∙ Built 1970
    property image
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.23
    •  
PROPERTY LISTING DETAILS
John Gordon
Coldwell Banker Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6201839
Last Updated: 03/06/2021
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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