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900 W Broadway Avenue #40 Apache Junction, AZ 85120

3 Beds 2 Baths 1,313 sqft Built 2012

$255,000

List Price

$1,230

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $194.21
  • 2 Days on Market
  • MLS # : 6165466
  • Updated Date : 11/28/2020 at 14:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,313 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Welcome to this well maintained, move in ready home in the gated community of Broadway San Marcos! Open concept floor plan with great room opening to the dining & kitchen area with extended breakfast bar. Vaulted ceilings in great room giving it & an open & spacious feel. Covered patio with north / south exposure. Great lock & leave or first time home buyer in a gated community with community pool, spa, recreation/work out center, dog park and walking paths. Hurry before it's gone!

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
 

$229,500$280,500$255,000

PURCHASE PRICE

$1,107$1,353$1,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,230
EXPENSES Loan Payment -$941
Property Tax -$138
Property Insurance -$53
HOA -$80
Property Management Fees -$99
CASH FLOW
-$80

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.

$255,000

PROJECTED PRICE

$1,230

PROJECTED RENT

0.48%

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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$941

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$10,847

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,230

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,300

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,230
1$1,2302$1,3753$1,4504$1,4505$1,500
$1,500
RENT COMPS ANALYSIS
  • 900 W Broadway Avenue #40 Apache Junction, AZ 1
    • 3 beds 2 baths ∙ 1,313 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,313 Sqft ∙ Built 2012
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,230
    • $0.94
    •  
  • 1679 S Stetson Court Apache Junction, AZ 2
    • 3 beds 2 baths ∙ 1,302 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,302 Sqft ∙ Built 2004
    property image
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $1.06
    •  
  • 675 S Weaver Drive Apache Junction, AZ 3
    • 3 beds 2 baths ∙ 1,369 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,369 Sqft ∙ Built 1999
    property image
    LEASED 06/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.06
    •  
  • 660 S Lawson Drive Apache Junction, AZ 4
    • 3 beds 2 baths ∙ 1,657 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,657 Sqft ∙ Built 2006
    property image
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.88
    •  
  • 899 E Pima Avenue Apache Junction, AZ 5
    • 3 beds 2 baths ∙ 1,565 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,565 Sqft ∙ Built 1998
    property image
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.96
    •  
PROPERTY LISTING DETAILS
Joann Yvette Gagnon
Coldwell Banker Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6165466
Last Updated: 11/28/2020
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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