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9328 N 85th Drive Peoria, AZ 85345

3 Beds 3 Baths 1,709 sqft Built 1997

INVESTimate

$275,000

List Price

$1,500

$1,350 - $1,650

Rent Est.

$306,213  ( +11.35%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1997
  • Price/Sqft : $160.91
  • 5 Days on Market
  • MLS # : 6121194
  • Updated Date : 08/25/2020 at 11:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,709 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homesmart

Listing Agent's Description

A Must See in Fairmont! This Corner Lot Peoria Home has it all!! Separate Family Room, Formal Dining Area, Updated Tile Flooring, Newer Kitchen Appliances, Updated Countertops, Kitchen Island, Recent Two Tone Interior Paint, Vaulted Ceilings, 2019 Installed A/C UNIT, Workshop/Storage Area in Garage, and a Master Suite with Double Sinks and a Walk In Closet!!! Outside the Home You will Find an Extended Covered Patio, Low Maintenance Front Yard, Added Backyard Pavers, Green Lush Lawn, and Recently Painted Exterior!!! Seller is including the Stainless Steel Fridge to Make this an Ideal Move-In Ready Home! Make Your Appointment Today!!!

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
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$1,015
Property Tax -$150
Property Insurance -$61
HOA -$45
Property Management Fees -$99
CASH FLOW
$131

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.

$275,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 11.35%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

8.17

YEARS SAVED

$34,145

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,491

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4453$1,5004$1,5505$1,600
$1,600
RENT COMPS ANALYSIS
  • 9328 N 85th Drive Peoria, 3
    • 3 beds 3 baths ∙ 1,709 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,709 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.88
    •  
  • 8552 W Vogel Avenue Peoria, 1
    • 3 beds 2 baths ∙ 1,599 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,599 Sqft ∙ Built 1997
    property image
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.87
    •  
  • 8610 W Monroe Street Peoria, 2
    • 3 beds 2 baths ∙ 1,758 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,758 Sqft ∙ Built 1987
    property image
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $0.82
    •  
  • 9238 N 85th Drive Peoria, 4
    • 3 beds 3 baths ∙ 1,709 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,709 Sqft ∙ Built 1998
    property image
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.91
    •  
  • 8379 W Palo Verde Avenue Peoria, 5
    • 3 beds 2 baths ∙ 1,794 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,794 Sqft ∙ Built 2003
    property image
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.89
    •  
PROPERTY LISTING DETAILS
Arnulfo Acosta
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6121194
Last Updated: 08/25/2020
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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