Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

9312 E Olive Lane N Sun Lakes, AZ 85248

2 Beds 2 Baths 1,116 sqft Built 1978

$260,000

List Price

$1,890

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $232.97
  • 2 Days on Market
  • MLS # : 6185044
  • Updated Date : 01/23/2021 at 22:16
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,116 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathaway Homeservices Arizona Properties

Listing Agent's Description

Amazing opportunity to own in the resort style community of Sun Lakes! This lovely 2BR/2Bath home is perfect for full time living or a winter getaway. In 2020, new manufactured waterproof fiber board wood flooring & new carpet was installed, plus all Whirlpool Cafe Series appl in the kitchen that are a $10k upgrade! Enjoy your private gated front entrance, & a 2 car garage w/separate storage room. The Golf Cart in the garage STAYS with the Home! The Open Great Room concept is inviting with ceiling fans thru-out. The sliding doors in the Living area & M-BR lead you to your nicely sized backyard & covered patio to enjoy the AZ weather. You will enjoy the 3 producing fruit trees (lemon, orange and grapefruit) with a timed watering system for the grass area & the trees. This fun &

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Sun Lakes

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $122k377k

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

Neighborhood: Sun Lakes

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
Jacobson Elementary School Primary Regular 889 41 9
Jacobson Elementary School Middle Regular 889 41 9
Hamilton High School High Regular 3,740 190 8

Jacobson Elementary School

  • Education Level: Primary
  • # of students: 889
  • # of teachers: 41
9
GreatSchools Rating

Jacobson Elementary School

  • Education Level: Middle
  • # of students: 889
  • # of teachers: 41
9
GreatSchools Rating

Hamilton High School

  • Education Level: High
  • # of students: 3,740
  • # of teachers: 190
8
GreatSchools Rating
 

$234,000$286,000$260,000

PURCHASE PRICE

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$903
Property Tax -$178
Property Insurance -$49
HOA -$113
Property Management Fees -$99
CASH FLOW
$548

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.

$260,000

PROJECTED PRICE

$1,890

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.8%
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$0.0$5.0k$10k$15k$20k$25k

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$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

14.5

YEARS SAVED

$62,238

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
  • $1,264

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,1003$1,4954$1,5005$1,500
$1,500
RENT COMPS ANALYSIS
  • 9312 E Olive Lane N Sun Lakes, AZ 1
    • 2 beds 2 baths ∙ 1,116 Sqft ∙ Built 1978 2 beds 2 baths ∙ 1,116 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 26232 S Glenburn Drive Sun Lakes, AZ 2
    • 2 beds 2 baths ∙ 1,116 Sqft ∙ Built 1983 2 beds 2 baths ∙ 1,116 Sqft ∙ Built 1983
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.99
    •  
  • 25633 S Ontario Drive Sun Lakes, AZ 3
    • 2 beds 2 baths ∙ 1,384 Sqft ∙ Built 1979 2 beds 2 baths ∙ 1,384 Sqft ∙ Built 1979
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.08
    •  
  • 26013 S Country Club Drive Sun Lakes, AZ 4
    • 2 beds 2 baths ∙ 1,345 Sqft ∙ Built 1981 2 beds 2 baths ∙ 1,345 Sqft ∙ Built 1981
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.12
    •  
  • 9466 E Sun Lakes Boulevard N Sun Lakes, AZ 5
    • 2 beds 2 baths ∙ 1,116 Sqft ∙ Built 1978 2 beds 2 baths ∙ 1,116 Sqft ∙ Built 1978
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.34
    •  
PROPERTY LISTING DETAILS
Susan L Gerkin
Berkshire Hathaway Homeservices Arizona Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6185044
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.

BESbswy