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PROPERTY INFO
FACTS
- Single Family
- Built In 2001
- Price/Sqft : $200.95
- 2 Days on Market
- MLS # : 6159716
- Updated Date : 11/14/2020 at 15:19
CONSTRUCTION
- Beds : 3
- Floor Size : 1,891 sqft
- Baths : 2 full
Listing Agent
Tru Realty
Listing Agent's Description
Welcome to Olive Way! This beautiful split floor plan 3 bedroom 2 bathroom home sits in the stunning gated community of Montefino Village in the heart of Ocotillo. Large Open Kitchen features granite countertops, lots of cabinet space, upgraded stainless steel appliances and tile floors. The master suite has a large walk in closet and separate garden tub and shower. Enjoy the Arizona nights on your covered patio looking over the famous Phil Mickelson golf course over your back wall. The home is part of the Ocotillo Golf community, with heated pool/spa, gated community, workout facility, children's playground and bike paths. Nearby shopping, dining and entertainment and Easy access to San Tan 202 Freeway.
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PRICE & RENT TRENDS
Neighborhood: Montefino Village
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Montefino Village
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,480 |
| EXPENSES | Loan Payment | -$1,402 |
| Property Tax | -$275 | |
| Property Insurance | -$64 | |
| HOA | -$277 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$363
|
||
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.
$380,000
PROJECTED PRICE
$2,480
PROJECTED RENT
0.65%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.17% |
| Appreciation Year (1-5) | 1.7% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.60% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$106,450
LOAN DETAILS
$1,402
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $95,000 |
| Loan Amount | $285,000 |
9.67
YEARS SAVED
$61,672
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,480
LIST RENT -
$1.31
LIST RENT PER SQFT
-
$2,482
COMP ESTIMATED VALUE -
$1.31
COMP AVG. RENT PER SQFT
Comps Range
-
1930 W Olive Way Chandler, AZ 2
- 3 beds 2 baths ∙ 1,891 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,891 Sqft ∙ Built 2001
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- Rent
- Rent Per SQFT
- $2,480
- $1.31
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3780 S Arcadia Way Chandler, AZ 1
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LEASED 08/20/20- Rent
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- $2,195
- $1.25
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LEASED 06/01/20- Rent
- Rent Per SQFT
- $2,500
- $1.28
-
4015 S Pecan Drive Chandler, AZ 4
- 3 beds 3 baths ∙ 1,934 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,934 Sqft ∙ Built 2018
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LEASED 11/13/20- Rent
- Rent Per SQFT
- $2,595
- $1.34
-
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![property image]()
LEASED 10/07/20- Rent
- Rent Per SQFT
- $2,700
- $1.38
PROPERTY LISTING DETAILS
Tru Realty
1.866.250.5610
Mynd Property Management
LC664597000
MLS #: 6159716
Last Updated: 11/14/2020
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.
