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8748 W Salter Drive Peoria, AZ 85382

3 Beds 2 Baths 1,903 sqft Built 1999

$359,000

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 1999
  • Price/Sqft : $188.65
  • 6 Days on Market
  • MLS # : 6153291
  • Updated Date : 10/29/2020 at 09:35
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,903 sqft
  • Baths : 2 full
Listing Agent

Russ Lyon Sotheby's International Realty

Listing Agent's Description

Open, spacious home in the coveted community of Deer Village. Great room concept features open kitchen, kitchen island, 3 bedrooms + a den, and two spacious bathrooms. Beautifully landscaped backyard completes this wonderful home. Located within the award winning Peoria Unified School District, this home also has great proximity to freeways, shopping, employment areas, quality healthcare facilities and much more. Come see this amazing value today.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Deer Village

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Deer Village

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
Coyote Hills Elementary School Primary Regular 867 41 8
Coyote Hills Elementary School Middle Regular 867 41 8
Sunrise Mountain High School High Regular 1,675 72 7

Coyote Hills Elementary School

  • Education Level: Primary
  • # of students: 867
  • # of teachers: 41
8
GreatSchools Rating

Coyote Hills Elementary School

  • Education Level: Middle
  • # of students: 867
  • # of teachers: 41
8
GreatSchools Rating

Sunrise Mountain High School

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

$323,100$394,900$359,000

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$1,325
Property Tax -$244
Property Insurance -$64
HOA -$40
Property Management Fees -$99
CASH FLOW
-$112

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.

$359,000

PROJECTED PRICE

$1,660

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.9%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$100,885

INVESTMENT

$100,885

Down Payment
$89,750
Rehab Estimate
$5,750
Closing Costs
$5,385

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,325

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $89,750
Loan Amount $269,250
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$14,586

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,689

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5253$1,6604$1,8005$1,800
$1,800
RENT COMPS ANALYSIS
  • 8748 W Salter Drive Peoria, AZ 3
    • 3 beds 2 baths ∙ 1,903 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,903 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.87
    •  
  • 8419 W Salter Drive Peoria, AZ 1
    • 3 beds 3 baths ∙ 1,766 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,766 Sqft ∙ Built 1998
    property image
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.85
    •  
  • 8760 W Adam Avenue Peoria, AZ 2
    • 4 beds 2 baths ∙ 1,790 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,790 Sqft ∙ Built 1998
    property image
    LEASED 12/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.85
    •  
  • 8754 W Salter Drive Peoria, AZ 4
    • 4 beds 2 baths ∙ 1,903 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,903 Sqft ∙ Built 1999
    property image
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.95
    •  
  • 8780 W Melinda Lane Peoria, AZ 5
    • 3 beds 2 baths ∙ 1,993 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,993 Sqft ∙ Built 2001
    property image
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.90
    •  
PROPERTY LISTING DETAILS
Phillip D Bianco
Russ Lyon Sotheby's International Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6153291
Last Updated: 10/29/2020
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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