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1050 E Westchester Drive Chandler, AZ 85249

2 Beds 2 Baths 2,259 sqft Built 1999

$420,000

List Price

$2,200

$2K - $2.4K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1999
  • Price/Sqft : $185.92
  • 4 Days on Market
  • MLS # : 6155663
  • Updated Date : 11/05/2020 at 02:15
CONSTRUCTION
  • Beds : 2
  • Floor Size : 2,259 sqft
  • Baths : 2 full
Listing Agent

Midland Real Estate Alliance

Listing Agent's Description

Inviting single level home with a pool in the desired Springfield Retirement Community. Spacious open kitchen with walk in pantry, pull out lower cabinets, newer stainless steel energy star appliances and breakfast bar. Great room includes Bose surround sound speakers, new ceiling fans and has French doors leading out to the covered patio and swimming pool. Walk through the double doors into the Master Ensuite which includes double sinks, large walk in closet, jetted tub and a walk in shower. Shutters throughout the home. The extended garage has built in cabinets, overhead storage, workbench and epoxy flooring. New variable speed pool pump 2019, water heater 2019 and interior of house painted 2018. Home has LED lighting.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Springfield

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k320k

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

Neighborhood: Springfield

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8671780

* 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
Hull Elementary School Primary Regular 777 45 9
Hull Elementary School Middle Regular 777 45 9
Basha High School High Regular 2,646 125 8

Hull Elementary School

  • Education Level: Primary
  • # of students: 777
  • # of teachers: 45
9
GreatSchools Rating

Hull Elementary School

  • Education Level: Middle
  • # of students: 777
  • # of teachers: 45
9
GreatSchools Rating

Basha High School

  • Education Level: High
  • # of students: 2,646
  • # of teachers: 125
8
GreatSchools Rating
 

$378,000$462,000$420,000

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$1,550
Property Tax -$299
Property Insurance -$71
HOA -$20
Property Management Fees -$99
CASH FLOW
$161

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$420,000

PROJECTED PRICE

$2,200

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 7.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
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$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$117,050

INVESTMENT

$117,050

Down Payment
$105,000
Rehab Estimate
$5,750
Closing Costs
$6,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,550

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $105,000
Loan Amount $315,000
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$47,956

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,200

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $2,349

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,825
1$1,8252$2,2003$2,500
$2,500
RENT COMPS ANALYSIS
  • 1050 E Westchester Drive Chandler, AZ 2
    • 2 beds 2 baths ∙ 2,259 Sqft ∙ Built 1999 2 beds 2 baths ∙ 2,259 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.97
    •  
  • 10710 E Voax Drive Sun Lakes, AZ 1
    • 2 beds 2 baths ∙ 1,910 Sqft ∙ Built 1992 2 beds 2 baths ∙ 1,910 Sqft ∙ Built 1992
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.96
    •  
  • 11017 E San Tan Boulevard Sun Lakes, AZ 3
    • 2 beds 2 baths ∙ 2,241 Sqft ∙ Built 1989 2 beds 2 baths ∙ 2,241 Sqft ∙ Built 1989
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.12
    •  
PROPERTY LISTING DETAILS
Heather Rugg
Midland Real Estate Alliance
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6155663
Last Updated: 11/05/2020
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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