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9218 N Summer Hill Boulevard Fountain Hills, AZ 85268

3 Beds 3 Baths 3,617 sqft Built 2002

$990,000

List Price

$3,410

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $273.71
  • 2 Days on Market
  • MLS # : 6154994
  • Updated Date : 11/02/2020 at 20:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,617 sqft
  • Baths : 3 full
Listing Agent

Russ Lyon Sotheby's International Realty

Listing Agent's Description

Stunning mountain/city light views from this gorgeous home on a half acre corner lot w/ view fencing, pool/spa combo, & covered rear patio. Well maintained home w/ ideal floor plan & luxury touches incl: gourmet kitchen custom cabinetry, slab granite counter tops/large island, large breakfast bar, hardwood hand scraped flooring in formal dining/living rooms/den, soaring ceilings, & tiled medallion in entry. Updates: New garage doors, Tesla elec vehicle outlet installed, new electric rolling shutters, synth grass dog area, new screen doors, & refinished front door. Expansive master bedroom & master bath w/ jet tub, custom walk-in closet & door to the back patio. Open living space w/ family room FP, & more amazing views! Split guest wing of the home features 2 large beds, bath, & bonus room.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Eagle Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700k750kPrice in $122k784k

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

Neighborhood: Eagle Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000320034003600Rent in $10453693

* 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 243 9 6
Fountain Hills Middle School Middle Regular 372 22 7
Fountain Hills High School High Regular 617 31 7

Four Peaks Elementary School

  • Education Level: Primary
  • # of students: 243
  • # of teachers: 9
6
GreatSchools Rating

Fountain Hills Middle School

  • Education Level: Middle
  • # of students: 372
  • # of teachers: 22
7
GreatSchools Rating

Fountain Hills High School

  • Education Level: High
  • # of students: 617
  • # of teachers: 31
7
GreatSchools Rating
 

$891,000$1,089,000$990,000

PURCHASE PRICE

$3,069$3,751$3,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,410
EXPENSES Loan Payment -$3,653
Property Tax -$625
Property Insurance -$98
HOA -$38
Property Management Fees -$99
CASH FLOW
-$1,102

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$990,000

PROJECTED PRICE

$3,410

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.36%
Appreciation Year (1-5) 1.3%
Maintenance Year (1-5) 8.00%
Vacancy 7.72%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$10k$0.0$10k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$268,100

INVESTMENT

$268,100

Down Payment
$247,500
Rehab Estimate
$5,750
Closing Costs
$14,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$3,653

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $247,500
Loan Amount $742,500
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$2,384

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
  • $3,943

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,900
$3,900
RENT COMPS ANALYSIS
  • 9218 N Summer Hill Boulevard Fountain Hills, AZ 1
    • 3 beds 3 baths ∙ 3,617 Sqft ∙ Built 2002 3 beds 3 baths ∙ 3,617 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 12388 N 145th Way Scottsdale, AZ 2
    • 4 beds 5 baths ∙ 3,580 Sqft ∙ Built 2005 4 beds 5 baths ∙ 3,580 Sqft ∙ Built 2005
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $1.09
    •  
PROPERTY LISTING DETAILS
Sandon Nixon
Russ Lyon Sotheby's International Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6154994
Last Updated: 11/02/2020
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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