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8616 E Bursage Circle Gold Canyon, AZ 85118

2 Beds 3 Baths 1,900 sqft Built 1991

$399,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $210.00
  • 7 Days on Market
  • MLS # : 6197400
  • Updated Date : 02/27/2021 at 12:29
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,900 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group

Listing Agent's Description

The seller is the original owner and pride of ownership is apparent in this METICULOUSLY CARED FOR HOME. The home is flooded with natural light from every room. The Desert Holly floorplan offers two master suites. There are beautiful plantation shutters throughout the home. The back patio is expansive with saltillo tile and an amazing pergola. Enjoy the 8,799 sq ft cul-de-sac lot (with room for a pool). There is also, an extended length 2.50 car garage. *Mountainbrook Village is a sought after 55+ active adult community in Gold Canyon with AMENITIES including...2 pools, spa, fitness center, pickleball, tennis, library, crafts and so much more. What a fun neighborhood for the active adults!!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Gold Canyon

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Gold Canyon

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10391981

* 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
 

$359,100$438,900$399,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,386
Property Tax -$344
Property Insurance -$64
HOA -$14
Property Management Fees -$99
CASH FLOW
-$256

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.

$399,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.8%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$111,485

INVESTMENT

$111,485

Down Payment
$99,750
Rehab Estimate
$5,750
Closing Costs
$5,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,386

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,750
Loan Amount $299,250
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$5,172

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
  • $1,516

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,2503$1,3504$1,400
$1,400
RENT COMPS ANALYSIS
  • 8616 E Bursage Circle Gold Canyon, AZ 1
    • 2 beds 3 baths ∙ 1,879 Sqft ∙ Built 1991 2 beds 3 baths ∙ 1,879 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 7192 E Texas Ebony Drive Gold Canyon, AZ 2
    • 2 beds 2 baths ∙ 1,738 Sqft ∙ Built 1999 2 beds 2 baths ∙ 1,738 Sqft ∙ Built 1999
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.72
    •  
  • 8753 E Sandtrap Court Gold Canyon, AZ 3
    • 2 beds 2 baths ∙ 1,536 Sqft ∙ Built 1996 2 beds 2 baths ∙ 1,536 Sqft ∙ Built 1996
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.88
    •  
  • 6453 S Palo Blanco Drive Gold Canyon, AZ 4
    • 2 beds 2 baths ∙ 1,711 Sqft ∙ Built 2001 2 beds 2 baths ∙ 1,711 Sqft ∙ Built 2001
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.82
    •  
PROPERTY LISTING DETAILS
Arlene F Herling
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6197400
Last Updated: 02/27/2021
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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