Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1872 W Lantana Drive Chandler, AZ 85248

4 Beds 3 Baths 2,518 sqft Built 1995

$589,999

List Price

$2,350

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $234.31
  • 2 Days on Market
  • MLS # : 6160588
  • Updated Date : 11/14/2020 at 09:28
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,518 sqft
  • Baths : 2 full , 1 half
Listing Agent

Congress Realty, Inc.

Listing Agent's Description

Single level home in desirable Legend at Ocotillo. New 30+ year tile roof 2018. 8/2020 - Replaced heating & both A/C units (20 Seer rating) with UV light sanitizer & complete air duct cleaning. 9/2020 new 50- gal water heater. 11/2018 remodel includes: - All quartz countertops, new paint -complete designer master bath remodel; clawfoot tub, large tile spa-like shower with glass surround, new lighting & fixtures, dual vanity cabinets with towers, framed mirror, quartz counters & window sills, - All cabinetry in home white and crown molding in kitchen & master bath. New sink, fixtures and slate appliances in kitchen, All new fixtures, lighting, and framed mirrors in bathrooms. Wood plantation shutters in front & in master. Wood blinds rest of home. New carpet 2018 with upgraded padding.

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
 

$530,999$648,999$589,999

PURCHASE PRICE

$2,115$2,585$2,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,350
EXPENSES Loan Payment -$2,177
Property Tax -$428
Property Insurance -$76
HOA -$60
Property Management Fees -$99
CASH FLOW
-$490

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.

$589,999

PROJECTED PRICE

$2,350

PROJECTED RENT

0.40%

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-$10k-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$162,100

INVESTMENT

$162,100

Down Payment
$147,500
Rehab Estimate
$5,750
Closing Costs
$8,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,177

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $147,500
Loan Amount $442,499
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$5,833

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,350

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,354

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,1003$2,3504$2,4505$2,800
$2,800
RENT COMPS ANALYSIS
  • 1872 W Lantana Drive Chandler, AZ 3
    • 4 beds 3 baths ∙ 2,518 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,518 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.93
    •  
  • 1797 W Goldfinch Way Chandler, AZ 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, AZ 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
    •  
  • 3030 S Cascade Place Chandler, AZ 4
    • 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
    •  
  • 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
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.06
    •  
PROPERTY LISTING DETAILS
Jared A English
Congress Realty, Inc.
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6160588
Last Updated: 11/14/2020
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.

BESbswy