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900 W Broadway Avenue #15 Apache Junction, AZ 85120

2 Beds 2 Baths 1,055 sqft Built 2008

$224,000

List Price

$1,060

$954 - $1.2K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $212.32
  • 3 Days on Market
  • MLS # : 6184538
  • Updated Date : 01/23/2021 at 17:12
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,055 sqft
  • Baths : 2 full
Listing Agent

Gentry Real Estate

Listing Agent's Description

Beautiful home in the very desirable Broadway San Marcos subdivision. This home has all the right touches just for you. Notice the Plantation Shutters and 4.5'' baseboards throughout They are a very nice addition to this 2 bedroom, 2 bath home. Enjoy the convenient ''eat in'' kitchen with Bay Window and Kitchen Island. Notice the beautiful Granite Countertops as well as the Stainless Steel Appliances. There is a Large Master Bedroom with walk in closet. 2nd bedroom is in split floor plan, nice for guests. 2 Car Garage has storage areas. You will find a reverse osmosis and well as a soft water system. There is a Mature Easily maintained Landscape and a Backyard Storage Shed. GATED COMMUNITY!!, which offers Recreation/Work out Center, Pool, Spa, dog park and walking paths. MUST SEE!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Apache Junction

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: Apache Junction

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8621567

* 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
Four Peaks Elementary School Primary Regular 686 37 6
Four Peaks Elementary School Middle Regular 686 37 6
Apache Junction High School High Regular 1,304 69 3

Four Peaks Elementary School

  • Education Level: Primary
  • # of students: 686
  • # of teachers: 37
6
GreatSchools Rating

Four Peaks Elementary School

  • Education Level: Middle
  • # of students: 686
  • # of teachers: 37
6
GreatSchools Rating

Apache Junction High School

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

$201,600$246,400$224,000

PURCHASE PRICE

$954$1,166$1,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,060
EXPENSES Loan Payment -$778
Property Tax -$132
Property Insurance -$48
HOA -$80
Property Management Fees -$99
CASH FLOW
-$76

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.

$224,000

PROJECTED PRICE

$1,060

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 8.9%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,110

INVESTMENT

$65,110

Down Payment
$56,000
Rehab Estimate
$5,750
Closing Costs
$3,360

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$778

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,000
Loan Amount $168,000
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$6,972

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
  • $1,048

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$9953$1,2004$1,375
$1,375
RENT COMPS ANALYSIS
  • 900 W Broadway Avenue #15 Apache Junction, AZ 1
    • 2 beds 2 baths ∙ 1,055 Sqft ∙ Built 2008 2 beds 2 baths ∙ 1,055 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 505 E 9th Avenue #1 Apache Junction, AZ 2
    • 2 beds 1 baths ∙ 900 Sqft ∙ Built 2020 2 beds 1 baths ∙ 900 Sqft ∙ Built 2020
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $995
    • $1.11
    •  
  • 1440 N Idaho Road #1019 Apache Junction, AZ 3
    • 2 beds 2 baths ∙ 1,400 Sqft ∙ Built 1989 2 beds 2 baths ∙ 1,400 Sqft ∙ Built 1989
    LEASED 11/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.86
    •  
  • 1804 S Descanso Road Apache Junction, AZ 4
    • 2 beds 2 baths ∙ 1,362 Sqft ∙ Built 2019 2 beds 2 baths ∙ 1,362 Sqft ∙ Built 2019
    LEASED 12/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $1.01
    •  
PROPERTY LISTING DETAILS
Lewis R Larsen
Gentry Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6184538
Last Updated: 01/23/2021
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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