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1824 W Orchid Lane Chandler, AZ 85224

3 Beds 3 Baths 1,765 sqft Built 2000

$379,900

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $215.24
  • 2 Days on Market
  • MLS # : 6163565
  • Updated Date : 11/21/2020 at 12:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,765 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homesmart

Listing Agent's Description

WOW! What a great house*If you are looking for an extremely upgraded and well maintained home, with very low maintenance, in a gated community---this one is for you! Sellers bought this home 8 years ago, completely remodeled and upgraded almost everything and have used it as a 2nd home ever since*There are custom cabinets & granite counter tops everywhere*Beautiful shutters on all windows, stainless steel appliances in the fantastic kitchen, highly upgraded carpeting and beautiful tile floors in all the right places* And there is no wasted space in this home with the spacious great room, kitchen, guest bath & laundry on the lower level & 3 bedrooms upstairs including a large master with a wonderful master bath and a big walk-in closet too*There is a nice covered patio off the kitchen and

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Pennington Place

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k320k

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

Neighborhood: Pennington Place

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9981780

* 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
 

$341,910$417,890$379,900

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$1,402
Property Tax -$221
Property Insurance -$62
HOA -$184
Property Management Fees -$99
CASH FLOW
-$328

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.

$379,900

PROJECTED PRICE

$1,640

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 7.3%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$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$106,424

INVESTMENT

$106,424

Down Payment
$94,975
Rehab Estimate
$5,750
Closing Costs
$5,699

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,402

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $94,975
Loan Amount $284,925
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$3,626

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,734

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5503$1,6404$1,7505$1,795
$1,795
RENT COMPS ANALYSIS
  • 1824 W Orchid Lane Chandler, AZ 3
    • 3 beds 3 baths ∙ 1,765 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,765 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.93
    •  
  • 1241 N Central Court Chandler, AZ 1
    • 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
    •  
  • 1281 N Salida Del Sol -- Chandler, AZ 2
    • 3 beds 2 baths ∙ 1,794 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,794 Sqft ∙ Built 2002
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.86
    •  
  • 2011 W Monroe Street Chandler, AZ 4
    • 4 beds 2 baths ∙ 1,660 Sqft ∙ Built 1985 4 beds 2 baths ∙ 1,660 Sqft ∙ Built 1985
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.05
    •  
  • 791 N Longmore Street Chandler, AZ 5
    • 3 beds 2 baths ∙ 1,646 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,646 Sqft ∙ Built 1992
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.09
    •  
PROPERTY LISTING DETAILS
Bob Turner
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6163565
Last Updated: 11/21/2020
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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