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1620 W Desert Broom Drive Chandler, AZ 85248

4 Beds 2 Baths 2,484 sqft Built 1991

$540,000

List Price

$2,360

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $217.39
  • 2 Days on Market
  • MLS # : 6206328
  • Updated Date : 03/21/2021 at 04:32
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,484 sqft
  • Baths : 2 full
Listing Agent

Century 21 Arizona Foothills

Listing Agent's Description

Enter through the inviting double doors into this 4 bedroom SINGLE Level home with a POOL in the beautiful Cottonwood Springs neighborhood in Ocotillo. Granite Kitchen Island/Countertops, Walk-in Pantry, Plantation Style Shutters, Luxury Vinyl flooring installed in 2018 in Living Room, Formal Dining Room and Bedrooms; 18'' diagonal tile in Entry, Kitchen, Family Room and Bathrooms. Double door entry into Master bedroom with beautiful views of backyard with separate Patio Door access. The fourth bedroom has double doors and a closet (currently used as a den/office). Relaxing backyard includes Covered Tiled Patio, POOL with Removable Fence, Citrus Trees and Grass area. AC updated in 2015 by previous Seller. This home is ready for your personal touch. Located within CUSD, blocks away

SEE MORE

PRICE & RENT TRENDS

Neighborhood: The Island at Ocotillo

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $122k469k

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

Neighborhood: The Island at Ocotillo

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400Rent in $10452534

* 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
Bogle Junior High School Middle Regular 1,225 56 8
Hamilton High School High Regular 3,740 190 8

Bogle Junior High School

  • Education Level: Middle
  • # of students: 1,225
  • # of teachers: 56
8
GreatSchools Rating

Hamilton High School

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

$486,000$594,000$540,000

PURCHASE PRICE

$2,124$2,596$2,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,360
EXPENSES Loan Payment -$1,876
Property Tax -$391
Property Insurance -$76
HOA -$28
Property Management Fees -$99
CASH FLOW
-$109

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.

$540,000

PROJECTED PRICE

$2,360

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.8%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$148,850

INVESTMENT

$148,850

Down Payment
$135,000
Rehab Estimate
$5,750
Closing Costs
$8,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,876

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $135,000
Loan Amount $405,000
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$21,232

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
  • $2,496

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,1003$2,3004$2,6485$2,800
$2,800
RENT COMPS ANALYSIS
  • 1620 W Desert Broom Drive Chandler, AZ 1
    • 4 beds 2 baths ∙ 2,484 Sqft ∙ Built 1991 4 beds 2 baths ∙ 2,484 Sqft ∙ Built 1991
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1787 W Canary Way Chandler, AZ 2
    • 4 beds 2 baths ∙ 2,394 Sqft ∙ Built 1995 4 beds 2 baths ∙ 2,394 Sqft ∙ Built 1995
    property image
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.88
    •  
  • 2054 W Periwinkle Way Chandler, AZ 3
    • 3 beds 3 baths ∙ 2,427 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,427 Sqft ∙ Built 2002
    property image
    LEASED 11/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.95
    •  
  • 3150 S Greythorne Way Chandler, AZ 4
    • 3 beds 2 baths ∙ 2,345 Sqft ∙ Built 1995 3 beds 2 baths ∙ 2,345 Sqft ∙ Built 1995
    property image
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,648
    • $1.13
    •  
  • 3195 S Cascade Place Chandler, AZ 5
    • 4 beds 3 baths ∙ 2,645 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,645 Sqft ∙ Built 1988
    property image
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.06
    •  
PROPERTY LISTING DETAILS
Connie Steinbach
Century 21 Arizona Foothills
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6206328
Last Updated: 03/21/2021
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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