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1860 W Wisteria Drive Chandler, AZ 85248

4 Beds 3 Baths 2,471 sqft Built 1996

INVESTimate

$538,000

List Price

$2,260

$2,034 - $2,486

Rent Est.

$558,605  ( +3.83%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1996
  • Price/Sqft : $217.73
  • 6 Days on Market
  • MLS # : 6120798
  • Updated Date : 08/22/2020 at 13:44
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,471 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Alliance Group

Listing Agent's Description

This is one you won't want to miss... Upgraded and ready to move in ! This 4 bedroom 2.5 baths 3 car garage and a pool all in Ocotillo! Upgraded wood look like tile flooring. Kitchen has Granite countertops, SS appliances, light grey's a and whites just clean as a whistle. New AC Units in 2017, New Roof in 2017. Whole House water treatment system 2018...Close to 101/202 Intel, Wells Fargo, Paypal, GM Financial Northrop Grumman all along the Price Corridor. Fine dining and shopping, Ocotillo Golf Course and tennis courts at your disposal . Come on bye and see your new home it's waiting just for you!

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
Jacobson Elementary School Primary Regular 889 41 9
Jacobson Elementary School Middle Regular 889 41 9
Hamilton High School High Regular 3,740 190 8

Jacobson Elementary School

  • Education Level: Primary
  • # of students: 889
  • # of teachers: 41
9
GreatSchools Rating

Jacobson Elementary School

  • Education Level: Middle
  • # of students: 889
  • # of teachers: 41
9
GreatSchools Rating

Hamilton High School

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

$484,200$591,800$538,000

PURCHASE PRICE

$2,034$2,486$2,260

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,260
EXPENSES Loan Payment -$1,985
Property Tax -$390
Property Insurance -$75
HOA -$56
Property Management Fees -$99
CASH FLOW
-$345

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.

$538,000

PROJECTED PRICE

$2,260

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.83%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$148,320

INVESTMENT

$148,320

Down Payment
$134,500
Rehab Estimate
$5,750
Closing Costs
$8,070

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,985

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $134,500
Loan Amount $403,500
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$9,867

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,260

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,261

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,1003$2,2604$2,3095$2,450
$2,450
RENT COMPS ANALYSIS
  • 1860 W Wisteria Drive Chandler, 3
    • 4 beds 3 baths ∙ 2,471 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,471 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $2,260
    • $0.91
    •  
  • 1797 W Goldfinch Way Chandler, 1
    • 4 beds 2 baths ∙ 2,394 Sqft ∙ Built 1995 4 beds 2 baths ∙ 2,394 Sqft ∙ Built 1995
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.83
    •  
  • 1787 W Canary Way Chandler, 2
    • 4 beds 2 baths ∙ 2,394 Sqft ∙ Built 1995 4 beds 2 baths ∙ 2,394 Sqft ∙ Built 1995
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.88
    •  
  • 1913 W Goldfinch Way -- Chandler, 4
    • 4 beds 3 baths ∙ 2,357 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,357 Sqft ∙ Built 1996
    LEASED 11/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,309
    • $0.98
    •  
  • 3030 S Cascade Place Chandler, 5
    • 4 beds 3 baths ∙ 2,529 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,529 Sqft ∙ Built 1989
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.97
    •  
PROPERTY LISTING DETAILS
Cathy Carter
Re/max Alliance Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6120798
Last Updated: 08/22/2020
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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