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1212 W Morelos Street Chandler, AZ 85224

3 Beds 2 Baths 1,326 sqft Built 1996

$340,000

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $256.41
  • 3 Days on Market
  • MLS # : 6186558
  • Updated Date : 01/30/2021 at 04:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,326 sqft
  • Baths : 2 full
Listing Agent

United Brokers Group

Listing Agent's Description

Fabulously updated 3 bedroom, 2 bathroom move-in ready home in a convenient Chandler location! Enjoy the tile wood-look flooring, vaulted ceilings, stainless steel appliances and split floorplan. The master bathroom features dual sinks, separate tub, shower and toilet room, plus walk-in closet. You will love having North/South exposure and a low-maintenance front and backyard. HIGHLIGHTS: Remodeled in 2018, 2020 water heater, the whole house is tile, built-in storage in the garage and so much more! Conveniently located close to Chandler Mall, walking distance from the Chandler Hospital and just minutes away from the 101 and 202 Freeway. This home is clean and ready for move-in!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Blakeman Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k320k

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

Neighborhood: Blakeman Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9871780

* 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 Junior High School Middle Regular 924 47 6
Hamilton High School High Regular 3,740 190 8

Andersen Junior High School

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

Hamilton High School

  • Education Level: High
  • # of students: 3,740
  • # of teachers: 190
8
GreatSchools Rating
 

$306,000$374,000$340,000

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$1,181
Property Tax -$198
Property Insurance -$53
HOA -$60
Property Management Fees -$99
CASH FLOW
-$71

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.

$340,000

PROJECTED PRICE

$1,520

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 5.5%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$14,617

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $1.15

    LIST RENT PER SQFT
  • $1,512

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5203$1,5504$1,5955$1,600
$1,600
RENT COMPS ANALYSIS
  • 1212 W Morelos Street Chandler, AZ 2
    • 3 beds 2 baths ∙ 1,326 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,326 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $1.15
    •  
  • 1242 S Pennington Drive Chandler, AZ 1
    • 3 beds 2 baths ∙ 1,283 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,283 Sqft ∙ Built 1994
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.17
    •  
  • 1293 W Kesler Lane Chandler, AZ 3
    • 3 beds 2 baths ∙ 1,315 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,315 Sqft ∙ Built 1997
    property image
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.18
    •  
  • 1270 W Chicago Street Chandler, AZ 4
    • 3 beds 2 baths ∙ 1,377 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,377 Sqft ∙ Built 1992
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.16
    •  
  • 1050 W Whitten Street Chandler, AZ 5
    • 3 beds 2 baths ∙ 1,517 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,517 Sqft ∙ Built 1994
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.05
    •  
PROPERTY LISTING DETAILS
Torey Gannon
United Brokers Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6186558
Last Updated: 01/30/2021
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. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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