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9855 W Lariat Lane Peoria, AZ 85383

4 Beds 3 Baths 2,824 sqft Built 2016

INVESTimate

$605,000

List Price

$2,250

$2,025 - $2,475

Rent Est.

$628,111  ( +3.82%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2016
  • Price/Sqft : $214.24
  • 6 Days on Market
  • MLS # : 6120740
  • Updated Date : 08/21/2020 at 12:50
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,824 sqft
  • Baths : 2 full , 1 half
Listing Agent

West Usa Realty

Listing Agent's Description

Welcome home! Perfectly located in a small, exclusive community this home is set for endless activities and entertaining. Entering thru the front entry gate, this home welcomes you into a relaxing courtyard. Upon entry into this beautiful 2800+ sq ft home, you are greeted with a light and bright open floor plan and an incredible living space. The generous kitchen welcomes you to entertain with double islands, granite countertops, a beverage fridge, double ovens and a gas cooktop. Large windows beckon you to the backyard where you'll find an expansive lawn, a built-in gas BBQ under a sizable pergola. The backyard, while sitting on almost .25 acres, is a blank canvas for your dream pool, RV garage, casita or all 3! This home also features 4 bedrooms, 2 1/2 baths and a second flex living space

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Mesquite

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $122k403k

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

Neighborhood: Mesquite

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10452293

* 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
Parkridge Elementary School Primary Regular 896 41 9
Parkridge Elementary School Middle Regular 896 41 9
Sunrise Mountain High School High Regular 1,675 72 7

Parkridge Elementary School

  • Education Level: Primary
  • # of students: 896
  • # of teachers: 41
9
GreatSchools Rating

Parkridge Elementary School

  • Education Level: Middle
  • # of students: 896
  • # of teachers: 41
9
GreatSchools Rating

Sunrise Mountain High School

  • Education Level: High
  • # of students: 1,675
  • # of teachers: 72
7
GreatSchools Rating
 

$544,500$665,500$605,000

PURCHASE PRICE

$2,025$2,475$2,250

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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,250
EXPENSES Loan Payment -$2,232
Property Tax -$334
Property Insurance -$82
HOA -$135
Property Management Fees -$99
CASH FLOW
-$632

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.

$605,000

PROJECTED PRICE

$2,250

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.82%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$166,075

INVESTMENT

$166,075

Down Payment
$151,250
Rehab Estimate
$5,750
Closing Costs
$9,075

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,232

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $151,250
Loan Amount $453,750
See What Happens When You Reinvest Cash Flow

0.75

YEARS SAVED

$2,251

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,250

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,443

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,2003$2,2504$2,3205$2,700
$2,700
RENT COMPS ANALYSIS
  • 9855 W Lariat Lane Peoria, 3
    • 4 beds 3 baths ∙ 2,824 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,824 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.80
    •  
  • 26025 N 107th Drive Peoria, 1
    • 4 beds 4 baths ∙ 2,800 Sqft ∙ Built 2016 4 beds 4 baths ∙ 2,800 Sqft ∙ Built 2016
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.78
    •  
  • 10568 W El Cortez Place Peoria, 2
    • 4 beds 4 baths ∙ 2,721 Sqft ∙ Built 2013 4 beds 4 baths ∙ 2,721 Sqft ∙ Built 2013
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.81
    •  
  • 26748 N 101st Lane Peoria, 4
    • 3 beds 3 baths ∙ 2,480 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,480 Sqft ∙ Built 2016
    LEASED 06/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,320
    • $0.94
    •  
  • 9832 W Hedge Hog Place Peoria, 5
    • 4 beds 3 baths ∙ 2,903 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,903 Sqft ∙ Built 2004
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.93
    •  
PROPERTY LISTING DETAILS
Angelina M Schmitz
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6120740
Last Updated: 08/21/2020
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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