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20209 S 198th Street Queen Creek, AZ 85142

4 Beds 2 Baths 1,987 sqft Built 2005

$385,000

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $193.76
  • 3 Days on Market
  • MLS # : 6184346
  • Updated Date : 01/22/2021 at 19:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,987 sqft
  • Baths : 2 full
Listing Agent

Offerpad

Listing Agent's Description

Charming 4 bed, 2 bath has an inviting gated courtyard. Tiled floors, Formal dining with coffered ceiling. OPen floor plan. The eat-in kitchen, has oak cabinets, granite counters, stylish backsplash, white appliances, island with breakfast bar seating, and a pantry. Bedrooms have plush carpet & ceiling fans. The primary bedroom has a private entrance, full bath and a walk-in closet. Interior laundry. The backyard has a covered patio, nice lawn, and mature privacy foliage. Close to schools, shopping and major freeways.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Emperor Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Emperor Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9911981

* 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
Desert Mountain Elementary School Primary Regular 481 20 9
Newell Barney Junior High School Middle Regular 785 35 7
Queen Creek High School High Regular 1,799 73 5

Desert Mountain Elementary School

  • Education Level: Primary
  • # of students: 481
  • # of teachers: 20
9
GreatSchools Rating

Newell Barney Junior High School

  • Education Level: Middle
  • # of students: 785
  • # of teachers: 35
7
GreatSchools Rating

Queen Creek High School

  • Education Level: High
  • # of students: 1,799
  • # of teachers: 73
5
GreatSchools Rating
 

$346,500$423,500$385,000

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$1,337
Property Tax -$281
Property Insurance -$66
HOA -$80
Property Management Fees -$99
CASH FLOW
-$123

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.

$385,000

PROJECTED PRICE

$1,740

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 7.3%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$107,775

INVESTMENT

$107,775

Down Payment
$96,250
Rehab Estimate
$5,750
Closing Costs
$5,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,337

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $96,250
Loan Amount $288,750
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$11,503

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,848

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,740
1$1,7402$1,8003$1,8504$1,9255$1,975
$1,975
RENT COMPS ANALYSIS
  • 20209 S 198th Street Queen Creek, AZ 1
    • 4 beds 2 baths ∙ 1,987 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,987 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.88
    •  
  • 19383 E Canary Way Queen Creek, AZ 2
    • 4 beds 2 baths ∙ 1,987 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,987 Sqft ∙ Built 2004
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.91
    •  
  • 19938 E Mayberry Road Queen Creek, AZ 3
    • 4 beds 2 baths ∙ 1,987 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,987 Sqft ∙ Built 2007
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.93
    •  
  • 19914 E Carriage Way Queen Creek, AZ 4
    • 4 beds 2 baths ∙ 1,987 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,987 Sqft ∙ Built 2006
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.97
    •  
  • 20273 E Raven Drive Queen Creek, AZ 5
    • 4 beds 3 baths ∙ 2,170 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,170 Sqft ∙ Built 2018
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.91
    •  
PROPERTY LISTING DETAILS
Michael Burk
Offerpad
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6184346
Last Updated: 01/22/2021
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. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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