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9383 N 83rd Avenue Peoria, AZ 85345

3 Beds 2 Baths 1,746 sqft Built 1957

$400,000

List Price

$1,300

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1957
  • Price/Sqft : $229.10
  • 52 Days on Market
  • MLS # : 6162769
  • Updated Date : 11/20/2020 at 10:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,746 sqft
  • Baths : 2 full
Listing Agent

Re/max Professionals

Listing Agent's Description

Unique commercial property (Peoria Commercial O-1) ready for a new use. Currently used as a residence. Great opportunity for office conversion or would make a great day care property. Your imagination is your guide. This property is a1,746 sq ft building on a 16,131 sq ft lot. Located just north of the corner of 83rd and Olive, it is adjacent to the new Parc at Rountree Ranch Development and there are several other developments online or coming soon within1/4 mile of the property. C-O zoning allows many great commercial uses for this property or redevelopment. Potential uses include: retail, day care, office -medical, and office - residential.

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PRICE & RENT TRENDS

Neighborhood: Acacia

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k289k

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

Neighborhood: Acacia

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7291793

* 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
 

$360,000$440,000$400,000

PURCHASE PRICE

$1,170$1,430$1,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,300
EXPENSES Loan Payment -$1,389
Property Tax -$217
Property Insurance -$61
Property Management Fees -$99
CASH FLOW
-$467

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.

$400,000

PROJECTED PRICE

$1,300

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 11.0%
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$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$581

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,300

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,443

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,299
1$1,2992$1,3003$1,3994$1,500
$1,500
RENT COMPS ANALYSIS
  • 9383 N 83rd Avenue Peoria, AZ 2
    • 3 beds 2 baths ∙ 1,746 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,746 Sqft ∙ Built 1957
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.74
    •  
  • 7224 W North Lane Peoria, AZ 1
    • 4 beds 2 baths ∙ 1,600 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,600 Sqft ∙ Built 1972
    property image
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $0.81
    •  
  • 8702 W Becker Lane Peoria, AZ 3
    • 4 beds 2 baths ∙ 1,715 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,715 Sqft ∙ Built 1972
    property image
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $0.82
    •  
  • 11613 N 92nd Drive Peoria, AZ 4
    • 4 beds 3 baths ∙ 1,760 Sqft ∙ Built 1973 4 beds 3 baths ∙ 1,760 Sqft ∙ Built 1973
    property image
    LEASED 06/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.85
    •  
PROPERTY LISTING DETAILS
Roberta L Voss
Re/max Professionals
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6162769
Last Updated: 11/20/2020
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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