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1326 W Cortez Court Chandler, AZ 85224

3 Beds 2 Baths 1,022 sqft Built 1988

$290,000

List Price

$1,140

$1K - $1.3K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $283.76
  • 3 Days on Market
  • MLS # : 6159109
  • Updated Date : 11/13/2020 at 12:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,022 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Arizona Realty

Listing Agent's Description

Corner, interior cul-de-sac lot home with plenty of updates! Low maintenance landscaping in front and backyard! Meticulous inside & out, freshly painted interior with soaring vaulted ceilings, large bay window in kitchen and French door in the great room allowing for tons of light! Master retreat boasts updated private en suite with two vanities & walk-in closet plus french door leading to your private patio. Enjoy the backyard this winter in your very own hot tub! Sip coffee in the morning on your patio adorned with pavers or squeeze fresh juice for breakfast from your very own citrus trees! Two spacious secondary bedrooms and updated guest bath. Prime location, home is close to walking paths, park and aquatic center. You won't want to miss this, all offers being reviewed Monday!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Crystal Bay Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $98k320k

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

Neighborhood: Crystal Bay Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8221780

* 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
Franklin At Alma Elementary School Primary Regular 280 13 10
Franklin At Alma Elementary School Middle Regular 280 13 10
Dobson High School High Regular 2,639 122 4

Franklin At Alma Elementary School

  • Education Level: Primary
  • # of students: 280
  • # of teachers: 13
10
GreatSchools Rating

Franklin At Alma Elementary School

  • Education Level: Middle
  • # of students: 280
  • # of teachers: 13
10
GreatSchools Rating

Dobson High School

  • Education Level: High
  • # of students: 2,639
  • # of teachers: 122
4
GreatSchools Rating
 

$261,000$319,000$290,000

PURCHASE PRICE

$1,026$1,254$1,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,140
EXPENSES Loan Payment -$1,070
Property Tax -$164
Property Insurance -$47
HOA -$40
Property Management Fees -$99
CASH FLOW
-$280

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.

$290,000

PROJECTED PRICE

$1,140

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 10.6%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

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$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$2,457

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,140

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $1,137

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,140
1$1,1402$1,2953$1,4504$1,4505$1,495
$1,495
RENT COMPS ANALYSIS
  • 1326 W Cortez Court Chandler, AZ 1
    • 3 beds 2 baths ∙ 1,022 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,022 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,140
    • $1.12
    •  
  • 3303 N Sunridge Lane Chandler, AZ 2
    • 3 beds 2 baths ∙ 1,231 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,231 Sqft ∙ Built 1983
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.05
    •  
  • 2010 W Western Drive Chandler, AZ 3
    • 3 beds 2 baths ∙ 1,216 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,216 Sqft ∙ Built 1979
    LEASED 08/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.19
    •  
  • 3454 N Apache Court Chandler, AZ 4
    • 3 beds 2 baths ∙ 1,336 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,336 Sqft ∙ Built 1986
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.09
    •  
  • 1223 W Boxelder Circle Chandler, AZ 5
    • 3 beds 2 baths ∙ 1,336 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,336 Sqft ∙ Built 1986
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.12
    •  
PROPERTY LISTING DETAILS
Kionna Comer
Keller Williams Arizona Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6159109
Last Updated: 11/13/2020
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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