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

9708 E Minnesota Avenue Sun Lakes, AZ 85248

2 Beds 2 Baths 1,116 sqft Built 1984

$280,000

List Price

$1,390

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

January 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $250.90
  • 5 Days on Market
  • MLS # : 6183409
  • Updated Date : 01/20/2021 at 19:42
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,116 sqft
  • Baths : 2 full
Listing Agent

Offerpad

Listing Agent's Description

Don't miss this updated home in 55+ Sun Lakes! NEW ROOF! This home has been refreshed with new interior paint (exterior paint to be completed) and new flooring. The kitchen features new Quartz countertops and new stainless steel appliances. The primary bedroom has an ensuite bathroom with dual sinks and a walk in shower. Enjoy the Arizona room at the back of the home for relaxing or entertaining. Come see all the amenities Sun Lakes has to offer! Vacant and ready for viewing.

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
 

$252,000$308,000$280,000

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,390
EXPENSES Loan Payment -$973
Property Tax -$191
Property Insurance -$49
HOA -$10
Property Management Fees -$99
CASH FLOW
$68

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.

$280,000

PROJECTED PRICE

$1,390

PROJECTED RENT

0.50%

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

PROJECTED ANNUAL CASH FLOW

11530$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$973

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$21,458

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,390

    LIST RENT
  • $1.25

    LIST RENT PER SQFT
  • $1,283

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,3903$1,4954$1,5005$1,650
$1,650
RENT COMPS ANALYSIS
  • 9708 E Minnesota Avenue Sun Lakes, AZ 2
    • 2 beds 2 baths ∙ 1,116 Sqft ∙ Built 1984 2 beds 2 baths ∙ 1,116 Sqft ∙ Built 1984
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $1.25
    •  
  • 26232 S Glenburn Drive Sun Lakes, AZ 1
    • 2 beds 2 baths ∙ 1,116 Sqft ∙ Built 1983 2 beds 2 baths ∙ 1,116 Sqft ∙ Built 1983
    property image
    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
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.08
    •  
  • 9466 E Sun Lakes Boulevard N Sun Lakes, AZ 4
    • 2 beds 2 baths ∙ 1,116 Sqft ∙ Built 1978 2 beds 2 baths ∙ 1,116 Sqft ∙ Built 1978
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.34
    •  
  • 25858 S New Town Drive Sun Lakes, AZ 5
    • 2 beds 2 baths ∙ 1,384 Sqft ∙ Built 1979 2 beds 2 baths ∙ 1,384 Sqft ∙ Built 1979
    property image
    LEASED 09/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.19
    •  
PROPERTY LISTING DETAILS
Derek Dickson
Offerpad
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6183409
Last Updated: 01/20/2021
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