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1050 N Verano Way Chandler, AZ 85224

4 Beds 3 Baths 2,093 sqft Built 1993

INVESTimate

$434,900

List Price

$1,800

$1,620 - $1,980

Rent Est.

$467,126  ( +7.41%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1993
  • Price/Sqft : $207.79
  • 9 Days on Market
  • MLS # : 6119000
  • Updated Date : 08/25/2020 at 11:02
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,093 sqft
  • Baths : 3 full
Listing Agent

Xcd Realty & Property Mgmt

Listing Agent's Description

Remarkable home with sparkling pool in a highly desirable neighbourhood. The home is equipped with 4 bedrooms with one bedroom on the main floor with a full bath. The open kitchen is well appointed with granite counters, stainless appliances and more. Look no further, perfect place to call home for the family with discerning taste.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Festival-Celebration

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k320k

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

Neighborhood: Festival-Celebration

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
Andersen Elementary School Primary Regular 652 31 4
Andersen Junior High School Middle Regular 924 47 6
Chandler High School High Regular 3,176 153 5

Andersen Elementary School

  • Education Level: Primary
  • # of students: 652
  • # of teachers: 31
4
GreatSchools Rating

Andersen Junior High School

  • Education Level: Middle
  • # of students: 924
  • # of teachers: 47
6
GreatSchools Rating

Chandler High School

  • Education Level: High
  • # of students: 3,176
  • # of teachers: 153
5
GreatSchools Rating
 

$391,410$478,390$434,900

PURCHASE PRICE

$1,620$1,980$1,800

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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,605
Property Tax -$253
Property Insurance -$68
HOA -$35
Property Management Fees -$99
CASH FLOW
-$260

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.

$434,900

PROJECTED PRICE

$1,800

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 7.41%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$120,999

INVESTMENT

$120,999

Down Payment
$108,725
Rehab Estimate
$5,750
Closing Costs
$6,524

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,605

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $108,725
Loan Amount $326,175
See What Happens When You Reinvest Cash Flow

2.75

YEARS SAVED

$11,183

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,910

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,7003$1,8004$2,0505$2,200
$2,200
RENT COMPS ANALYSIS
  • 1050 N Verano Way Chandler, 3
    • 4 beds 3 baths ∙ 2,093 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,093 Sqft ∙ Built 1993
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.86
    •  
  • 1160 W Gary Court Chandler, 1
    • 3 beds 3 baths ∙ 1,936 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,936 Sqft ∙ Built 1993
    property image
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.82
    •  
  • 1351 N Peden Circle Chandler, 2
    • 4 beds 2 baths ∙ 1,940 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,940 Sqft ∙ Built 1979
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.88
    •  
  • 1601 W Corona Drive Chandler, 4
    • 4 beds 2 baths ∙ 2,186 Sqft ∙ Built 1991 4 beds 2 baths ∙ 2,186 Sqft ∙ Built 1991
    property image
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.94
    •  
  • 1591 W Ironwood Drive Chandler, 5
    • 4 beds 2 baths ∙ 2,186 Sqft ∙ Built 1992 4 beds 2 baths ∙ 2,186 Sqft ∙ Built 1992
    property image
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.01
    •  
PROPERTY LISTING DETAILS
Samir Sawhney
Xcd Realty & Property Mgmt
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6119000
Last Updated: 08/25/2020
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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