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$375,000

Sale Pending
1622 N Lapis Dr, Prescott, AZ 86301
2 Beds
2 Baths
1,040 Square Feet
0.24 Acres Lot
Built in 2004
Sale Pending
Units n/a
Checked: 9 hours ago
Updated: Jul 21, 2025 at 04:51AM

Investment Summary


Monthly Cash Flow
-$473
Cap Rate
4.2%
Cash-on-Cash Return
-6.6%
Debt Coverage Ratio
0.73
Internal Rate of Return (5 years)
-2.4%

Property Description


0.24 Acres Lot
Built in 2004
Sale Pending
Units n/a

Move-in-ready Prescott home is here! Situated halfway between downtown Prescott and Prescott Valley, makes this home a great location. Enjoy the mountain views, lush vegetation plus the wildlife of deer and quail from 2 deck spaces, one covered and the other uncovered. Open concept kitchen, dining and living room. Newer mini splits for heating and cooling add to the year round enjoyment of this home. Two split suites with bathrooms for privacy. Nice beadboard paneling in the lower level bedroom and mountain views in the upper bedroom make this a standout home. All located on a quiet street with no highway noise. Neat, clean, well maintained, this property will make it easy to move right in! The home includes refrigerator and microwave, plus lower level laundry with washer and dryer! Don't miss your chance to own this cute Prescott home!

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Location


Property Details


Parking

  • Description: Garage
  • Details: Garage Door Opener
  • Garage Spaces: 2
  • Spaces Total: 3

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 2.0

Interior Features

  • # of Stories: 2
  • Basement: Yes
  • Basement Description: Finished

Exterior Features

  • Exterior Walls Materials: Wood Siding
  • Roof Material: Composition

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 10317089
  • Lot Size: 10454 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Contemporary
  • Year Built: 2004

Tax Information

  • Annual Tax: $930

Utilities

  • Heating: Other

Location

  • County: Yavapai

Listing Details


Listed by:
Mary Amos
Realty Executives Arizona Territory
(928) 899-6133

Source:
Arizona Regional Multiple Listing Service (ARMLS)
MLS#: 6875969
Arizona Regional Multiple Listing Service (ARMLS)

Investment Summary


Monthly Cash Flow
-$473
Cap Rate
4.2%
Cash-on-Cash Return
-6.6%
Debt Coverage Ratio
0.73
Internal Rate of Return (5 years)
-2.4%

Purchase Details

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Purchase price:
$375,000
Amount financed:
-$300,000
Down payment:
$75,000
Closing costs:
$11,250
Rehab costs:
$0
Initial cash invested:
$86,250
Square feet:
1,040
Cost per square foot:
$361
Monthly rent per square foot:
$1.92

Financing Details

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Loan amount:
$300,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$1,775
Property tax:
$78
Insurance:
$140
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,993

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,000 $24,000
Vacancy loss: (6%)
6% -$120 -$1,440
Operating income:
$1,880 $22,560

Operating Expenses


% Rent Monthly Yearly
Property taxes: (4%)
4%-$78-$930
Insurance: (7%)
7%-$140-$1,680
Property management: (8%)
8%-$160-$1,920
Repairs & maintenance: (5%)
5%-$100-$1,200
Capital expenditures: (5%)
5%-$100-$1,200
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (29%)
29%-$578-$6,930

Cash Flow


Monthly Yearly
Net operating income:
$1,302 $15,624
Mortgage payments:
-$1,775 -$21,300
Cash flow:
$473 $5,676