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1520 N Iowa Street Chandler, AZ 85225

3 Beds 2 Baths 1,598 sqft Built 1983

$418,000

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $261.58
  • 2 Days on Market
  • MLS # : 6209937
  • Updated Date : 03/20/2021 at 22:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,598 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

Don't miss this opportunity to purchase a charming 3 bedroom & 2 bath single level home situated on a nearly half acre lot, a rare treat in this popular Chandler neighborhood. Enjoy a brand new roof in addition to updated kitchen and baths with soft close maple cabinetry, granite counters, pendant lighting and classy chrome hardware. Beautiful French doors in both the formal living and family room spaces add a touch of class as well as a gorgeous view of this expansive back yard space. You can bring your trailers and toys through RV gates to store securely in this amazing yard. New interior and exterior paint in 2021. Evaporative cooler new in 2019 - accompanies refrigeration for wonderful savings on your cooling and heating bills.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Hartford Street

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $108k358k

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

Neighborhood: Hartford Street

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8731981

* 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
Chandler High School High Regular 3,176 153 5

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
 

$376,200$459,800$418,000

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$1,452
Property Tax -$243
Property Insurance -$58
Property Management Fees -$99
CASH FLOW
-$323

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$418,000

PROJECTED PRICE

$1,530

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 7.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
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

PROJECTED ANNUAL CASH FLOW

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

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$116,520

INVESTMENT

$116,520

Down Payment
$104,500
Rehab Estimate
$5,750
Closing Costs
$6,270

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,452

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $104,500
Loan Amount $313,500
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$4,137

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,694

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,4753$1,5954$1,6505$1,900
$1,900
RENT COMPS ANALYSIS
  • 1520 N Iowa Street Chandler, AZ 1
    • 3 beds 2 baths ∙ 1,598 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,598 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1961 N Hartford Street #1196 Chandler, AZ 2
    • 3 beds 3 baths ∙ 1,364 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,364 Sqft ∙ Built 1998
    property image
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $1.08
    •  
  • 2098 N Arbor Lane Chandler, AZ 3
    • 3 beds 3 baths ∙ 1,622 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,622 Sqft ∙ Built 2003
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.98
    •  
  • 1351 N Pleasant Drive #1095 Chandler, AZ 4
    • 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 2000
    property image
    LEASED 09/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.11
    •  
  • 1022 W Estrella Drive Chandler, AZ 5
    • 3 beds 3 baths ∙ 1,783 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,783 Sqft ∙ Built 1985
    property image
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.07
    •  
PROPERTY LISTING DETAILS
Donna Harris
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6209937
Last Updated: 03/20/2021
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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