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9318 N 85th Lane Peoria, AZ 85345

3 Beds 3 Baths 1,934 sqft Built 1997

$349,500

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $180.71
  • 3 Days on Market
  • MLS # : 6160200
  • Updated Date : 11/13/2020 at 21:53
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,934 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group

Listing Agent's Description

Great 3 bedroom & 2.5 bathroom home. Vaulted ceilings with natural light, fresh paint, and upgraded new flooring throughout. Formal dining room, spacious great room, separate family room, ceiling fan and open eat-in kitchen with plenty of cabinets, granite countertops, stainless steel appliances and pantry. Remodeled Bathroom down stairs and inside laundry room. Master bedroom with private bathroom and walk-in closet. Beautifully designed serene backyard setting with covered patio with ceiling fan, swimming pool & lush green grass. Solar water heater and leased solar system will stay and lease shall be transferred to the buyer. Close to shopping, freeway and walking distance to parks, and Alta Loma School. This home has it all for your buyers!!!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Fairmont

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $92k289k

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

Neighborhood: Fairmont

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8211793

* 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
Alta Loma Elementary School Primary Regular 837 41 4
Alta Loma Elementary School Middle Regular 837 41 4
Raymond S. Kellis High School High Regular 1,928 75 4

Alta Loma Elementary School

  • Education Level: Primary
  • # of students: 837
  • # of teachers: 41
4
GreatSchools Rating

Alta Loma Elementary School

  • Education Level: Middle
  • # of students: 837
  • # of teachers: 41
4
GreatSchools Rating

Raymond S. Kellis High School

  • Education Level: High
  • # of students: 1,928
  • # of teachers: 75
4
GreatSchools Rating
 

$314,550$384,450$349,500

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$1,290
Property Tax -$190
Property Insurance -$65
HOA -$45
Property Management Fees -$99
CASH FLOW
-$148

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$349,500

PROJECTED PRICE

$1,540

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 11.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,368

INVESTMENT

$98,368

Down Payment
$87,375
Rehab Estimate
$5,750
Closing Costs
$5,243

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,290

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,375
Loan Amount $262,125
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$13,083

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,654

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,445
1$1,4452$1,5003$1,5404$1,6005$1,645
$1,645
RENT COMPS ANALYSIS
  • 9318 N 85th Lane Peoria, AZ 3
    • 3 beds 3 baths ∙ 1,934 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,934 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.80
    •  
  • 8610 W Monroe Street Peoria, AZ 1
    • 3 beds 2 baths ∙ 1,758 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,758 Sqft ∙ Built 1987
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $0.82
    •  
  • 9681 N 82nd Lane Peoria, AZ 2
    • 3 beds 2 baths ∙ 1,752 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,752 Sqft ∙ Built 2004
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.86
    •  
  • 8379 W Palo Verde Avenue Peoria, AZ 4
    • 3 beds 2 baths ∙ 1,794 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,794 Sqft ∙ Built 2003
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.89
    •  
  • 8564 W Sunnyslope Lane Peoria, AZ 5
    • 3 beds 3 baths ∙ 1,934 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,934 Sqft ∙ Built 1997
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.85
    •  
PROPERTY LISTING DETAILS
Azad Zolnoorian
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6160200
Last Updated: 11/13/2020
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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