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1629 N Longmore Street Chandler, AZ 85224

3 Beds 2 Baths 1,541 sqft Built 1986

$379,000

List Price

$1,460

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 1986
  • Price/Sqft : $245.94
  • 4 Days on Market
  • MLS # : 6154707
  • Updated Date : 10/31/2020 at 19:53
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,541 sqft
  • Baths : 2 full
Listing Agent

United Brokers Group

Listing Agent's Description

COMPLETELY REMODELED AND NO HOA! This beautiful 3 bd, 2 bth Chandler home is completely remodeled with new plank flooring throughout, new carpet in bedrooms, new fans, and interior paint. The kitchen remodel includes granite countertops, new cabinets, new lighting, and all new appliances. Both bathrooms have been updated as well with new 35'' high vanities and great finishes. They back yard boasts a pebble tech pool with a removable fence. The home is located in the perfect location! Close to the 202 and the 101 for easy access. Roof was replaced in 2016 and the AC in 2010. This won't last long so come make it yours today!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Chandler

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $115k358k

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

Neighborhood: Chandler

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10392090

* 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
 

$341,100$416,900$379,000

PURCHASE PRICE

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$1,398
Property Tax -$221
Property Insurance -$57
Property Management Fees -$99
CASH FLOW
-$315

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.

$379,000

PROJECTED PRICE

$1,460

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.6%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,185

INVESTMENT

$106,185

Down Payment
$94,750
Rehab Estimate
$5,750
Closing Costs
$5,685

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,398

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $94,750
Loan Amount $284,250
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$4,483

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,456

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,460
1$1,4602$1,5003$1,5254$1,5505$1,600
$1,600
RENT COMPS ANALYSIS
  • 1629 N Longmore Street Chandler, AZ 1
    • 3 beds 2 baths ∙ 1,541 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,541 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $0.95
    •  
  • 1241 N Central Court Chandler, AZ 2
    • 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 1992
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.93
    •  
  • 1623 N Comanche Drive Chandler, AZ 3
    • 3 beds 3 baths ∙ 1,673 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,673 Sqft ∙ Built 1984
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.91
    •  
  • 1570 W Ironwood Drive Chandler, AZ 4
    • 3 beds 2 baths ∙ 1,544 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,544 Sqft ∙ Built 1990
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.00
    •  
  • 1128 W Calle Del Norte Street Chandler, AZ 5
    • 3 beds 3 baths ∙ 1,703 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,703 Sqft ∙ Built 1984
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.94
    •  
PROPERTY LISTING DETAILS
Christine Bingold
United Brokers Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6154707
Last Updated: 10/31/2020
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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