$799,500
Investment Summary
- Monthly Cash Flow
- -$1,637
- Cap Rate
- 3.2%
- Cash-on-Cash Return
- -10.7%
- Debt Coverage Ratio
- 0.57
- Internal Rate of Return (5 years)
- -6.3%
Cash Flow
Net Operating Income (NOI) minus mortgage payments.
Calculation:
NOI - Mortgage Payments
Cap Rate (Market Value)
Capitalization Rate is a rate of return that compares the yearly Net Operating Income (NOI) to the market value.
Calculation:
NOI / Market Value
Cash-on-Cash Return (CoC)
Annual Cash Flow / Cash Invested
Calculation:
Annual cash flow divided by initial cash invested.
Debt Coverage Ratio (DCR)
Net Operating Income (NOI) divided by total debt payments.
Calculation:
NOI / Total Debt Payments
Internal Rate of Return (IRR)
A metric for assessing profitability over time. IRR is the discount rate at which the net present value (NPV) of all future cash flows (positive and negative) from an investment equals zero — including both periodic cash flow (such as rent) and a projected sale at the end of the holding period. It represents the expected annualized return, accounting for income, expenses, and the recovery of capital through a future sale.
Property Description
Welcome HOME! This is the ONE you have been waiting for, the home that has it ALL, but rarely comes on the market! Not only is this one in the perfect LOCATION, close to shopping, restaurants and freeways, but it also features over 3200 square feet with 5 bedrooms, 3 bathrooms, a 3 car garage with a sparkling play pool, spa, and a waterfall. Some of the many high-end features are: gorgeous wood flooring and plantation shutters throughout, cozy gas fireplace, gourmet kitchen with large island, lots of cabinets, granite countertops, gas range and stainless steel appliances..large master bedroom with a view deck, his and hers closets, large shower and soaking tub..large covered patio, outdoor kitchen island with stainless steel grill and beautiful travertine pavers. New Roof 7/25!! Wow! A special message from the seller: LIST OF IMPROVEMENTS WE HAVE MADE New AC unit 1 New AC unit 2 Tankless water heater Water softener (2016) Pool pebble tech resurfaced with new color (2023) Pool deck renovated to travertine (2018) Outdoor grill and cooking station installation (2018) Whole house shutter installation (2016) Garden installation Installed new drip system exclusively for garden New water bib on east side of house New pool pump New pool cleaner pump New pool cleaners Pool heater replacement Replaced backyard sod Replaced drip system in backyard and updated drip and sprinkler system for entire house New backyard landscaping Lemon tree Hop seeds Tee pee Vines Pineapple palm tree Smaller palms Multiple firecrackers New faucets in all bathrooms New vanity in downstairs bathroom New dishwasher Outdoor light fixtures in front of house & inside entryway Backyard light fixtures and fan New pool light system New chandeliers in dining room and breakfast nook Outdoor painted (2022) ***What we loved about the house*** The first thing someone will notice when they turn onto Indigo Bay Drive is that the neighborhood is clean, quiet, and full of kind people. The location of our house is unique in that it sits along Houston Ave., so there are no neighbors behind the house. The home is walking and biking distance to multiple parks, the canal trails, and the Riparian Preserve. As for the house itself, we loved it from top to bottom. The garage is large enough to store three vehicles, or as we did - two vehicles, a work station, and a place to store family belongings. The entryway is out of a movie, where the winding staircase greets guests as they arrive. There are so many beautiful windows that provide the perfect amount of sunlight in all parts of the house. The kitchen is spacious: the large island is perfect for entertaining or doing dishes while catching up on your favorite show. The gas stove is a lot of fun to cook with. The bedrooms are large, especially the primary suite with a peaceful sitting area and the two walk-in closets. The upstairs office is a great game room or place to get work done. The backyard feels resort-like with lush landscaping. It is large enough to play in the grass with pets or children, and the pool and jacuzzi will be the heart of summer fun for years to come. The location is amazing: being near the US-60 and not far from the 202. The grocery options cannot be beat - in one intersection you have a Fry's Marketplace, Safeway, and Sprouts Farmer's Market. In addition, there are so many fun and healthy places to eat or enjoy time with friends and family, from Boca Taqueria, Salad and Go, and Chick-fil-A; our favorite, however, is the best bakery in town - Rise Up Bakery on Higley and Guadalupe.
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Location
Property Details
Parking
- Description: Covered, Garage
- Garage Spaces: 3
- Spaces Total: 3
Bedroom Information
- # of Bedrooms: 5
Bathroom Information
- # of Baths (Total): 3.0
Interior Features
- # of Stories: 2
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Wood
- Roof Material: Tile
- Pool: Yes
HOA
- Has HOA: Yes
- Association: Carriage Lane
- HOA Fee: $375/semi-annually
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 30408400
- Lot Size: 8699 sqft
Property Information
- Property Type: Single Family Residence
- Style: Santa Barbara/Tuscan
- Year Built: 1996
Tax Information
- Annual Tax: $2,474
Utilities
- Water & Sewer: Public
- Heating: Electric
- Cooling: Central Air
Location
- County: Maricopa
Listing Details
Investment Summary
- Monthly Cash Flow
- -$1,637
- Cap Rate
- 3.2%
- Cash-on-Cash Return
- -10.7%
- Debt Coverage Ratio
- 0.57
- Internal Rate of Return (5 years)
- -6.3%
Cash Flow
Net Operating Income (NOI) minus mortgage payments.
Calculation:
NOI - Mortgage Payments
Cap Rate (Market Value)
Capitalization Rate is a rate of return that compares the yearly Net Operating Income (NOI) to the market value.
Calculation:
NOI / Market Value
Cash-on-Cash Return (CoC)
Annual Cash Flow / Cash Invested
Calculation:
Annual cash flow divided by initial cash invested.
Debt Coverage Ratio (DCR)
Net Operating Income (NOI) divided by total debt payments.
Calculation:
NOI / Total Debt Payments
Internal Rate of Return (IRR)
A metric for assessing profitability over time. IRR is the discount rate at which the net present value (NPV) of all future cash flows (positive and negative) from an investment equals zero — including both periodic cash flow (such as rent) and a projected sale at the end of the holding period. It represents the expected annualized return, accounting for income, expenses, and the recovery of capital through a future sale.
Purchase Details
Purchase PriceThe price paid for the property. Purchase price:
| $799,500 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$639,600 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $159,900 |
Closing CostsFees and expenses associated with purchasing a property, typically ranging from 2% to 5% of the home’s purchase price, paid at the end of a home purchase to cover services like lending, title transfer, and taxes. Closing costs:
| $23,985 |
Rehab CostsCosts incurred to repair or improve the property, including: roof, flooring, exterior siding, kitchen, exterior paint, bathrooms, etc. Rehab costs:
| $0 |
Initial Cash InvestedThe total initial cash invested in the property. Calculation:Down payment + Buying costs + Rehab costs Initial cash invested:
| $183,885 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 3,245 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $246 |
Monthly Rent Per Square FootMonthly rent divided by the number of square feet. This ratio helps investors compare rental income efficiency across properties, markets, and unit sizes Calculation:Monthly Rent / Square Feet Monthly rent per square foot:
| $1.08 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $639,600 |
|---|---|
Loan to Value Ratio (LTV)Loan amount divided by the market value of the property. Calculation:Loan Amount / Market Value
Loan to value ratio:
| 80.0% |
Loan TypeThe type of loan (e.g., fixed, adjustable).
Loan type:
| Amortizing |
TermThe loan repayment period in years.
Term:
| 30 years |
Interest RateThe percentage a lender charges on the borrowed amount of a loan, determining the cost of borrowing money.
Interest rate:
| 5.875% |
Principal & Interest (PI)The principal is the portion of the loan payment that reduces the loan balance. The interest is the lender's charge for borrowing money. Calculation:(P * r * (1 + r) ** n) / ((1 + r) ** n - 1) Where:
P = Loan amount (principal)
Principal & interest:
| $3,783 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $206 |
InsuranceThe costs for insurance coverage to protect against financial losses due to risks like fire, natural disasters, theft, liability, or tenant-related damages. Calculation:Assumes 7% of gross rental income, unless insurance rates are specified.
Insurance:
| $245 |
Private Mortgage Insurance (PMI)A fee that borrowers pay when they take out a conventional loan with a loan-to-value (LTV) ratio above 80%.
Private mortgage insurance (PMI):
| $0 |
Monthly PaymentThe fixed amount a borrower pays each month to repay a loan. It typically includes principal and interest (P&I) and may also cover property taxes, insurance, HOA fees, and PMI if escrowed. Monthly payment:
| $4,234 |
Operating Income
| % Rent | Monthly | Yearly | |
|---|---|---|---|
Gross RentThe total rental income received from tenants before deducting any expenses. Includes base rent, late fees, pet fees, parking fees, and other recurring charges.
Gross rent:
| $3,500 | $42,000 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$210 | -$2,520 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $3,290 | $39,480 |
Operating Expenses
| % Rent | Monthly | Yearly | |
|---|---|---|---|
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services. | 6% | -$206 | -$2,474 |
InsuranceThe costs for insurance coverage to protect against financial losses due to risks like fire, natural disasters, theft, liability, or tenant-related damages. Calculation:Assumes 7% of gross rental income, unless insurance rates are specified. | 7% | -$245 | -$2,940 |
Property ManagementThe costs associated with hiring a property manager to handle the day-to-day operations of a rental property. Includes management fees, leasing fes, eviction fees, etc. Calculation:Assumes 8% of gross rental income. | 8% | -$280 | -$3,360 |
Repairs & MaintenanceOngoing costs for routine upkeep and minor fixes needed to keep a property in good working condition. Calculation:Assumes 5% of gross rental income. Varies by property age and condition. | 5% | -$175 | -$2,100 |
Capital ExpensesLarge, infrequent costs for major improvements or replacements, like a new roof, HVAC system, or appliances. Calculation:Assumes 5% of gross rental income. Varies by property age. | 5% | -$175 | -$2,100 |
HOA FeesRegular dues paid to a Homeowners Association for community maintenance, amenities, and management. Similar fees include: Condo Association Fees, Co-op Maintenance Fees, etc. | 2% | -$63 | -$756 |
Operating ExpensesRecurring costs required to maintain and manage a rental property, including property taxes, insurance, maintenance, repairs, utilities (if paid by the owner), property management fees, and other day-to-day expenses. Calculation:Insurance + Property Taxes + Property Management + Repairs & Maintenance + Capital Expenditures + HOA Fees | 33% | -$1,144 | -$13,730 |
Cash Flow
| Monthly | Yearly | |
|---|---|---|
Net Operating Income (NOI)The income generated from a property after deducting all operating expenses but before deducting mortgage payments, taxes, and capital expenditures. Calculation:Gross Operating Income - Operating Expenses
Net operating income:
| $2,146 | $25,752 |
Mortgage PaymentThe fixed amount a borrower pays each month to repay a loan. It typically includes principal and interest (P&I) and may also cover property taxes, insurance, HOA fees, and PMI if escrowed. | -$3,783 | -$45,396 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $1,637 | $19,644 |