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2023 S Iowa Place Chandler, AZ 85286

4 Beds 3 Baths 2,430 sqft Built 2003

$475,000

List Price

$2,150

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $195.47
  • 2 Days on Market
  • MLS # : 6157584
  • Updated Date : 11/07/2020 at 12:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,430 sqft
  • Baths : 3 full
Listing Agent

Aartie Aiyer Realty Llc

Listing Agent's Description

Single story situated perfectly on the corner of a cul-de-sac lot in the desired Arden Park subdivision. Boasting 4 spacious bedrooms, one of is an attached Casita with its own heating/cooling unit! DEN, 4beds and 3 bathrooms, this home has been meticulously cared for from top to bottom. Newer wood look tiles, tasteful upgrades throughout. plantation shutters, water softener, solar panels, neutral paint, and a large kitchen complete with Granite Counters, island and maple cabinetry. Step into the backyard perfect for entertaining, low maintenance landscape, covered patio and sparkling, heated, self cleaning pool w/ waterfall.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Arden Park

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $122k548k

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

Neighborhood: Arden Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400Rent in $10452561

* 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
Hancock Elementary School Primary Regular 863 43 8
Bogle Junior High School Middle Regular 1,225 56 8
Hamilton High School High Regular 3,740 190 8

Hancock Elementary School

  • Education Level: Primary
  • # of students: 863
  • # of teachers: 43
8
GreatSchools Rating

Bogle Junior High School

  • Education Level: Middle
  • # of students: 1,225
  • # of teachers: 56
8
GreatSchools Rating

Hamilton High School

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

$427,500$522,500$475,000

PURCHASE PRICE

$1,935$2,365$2,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,150
EXPENSES Loan Payment -$1,753
Property Tax -$283
Property Insurance -$75
HOA -$22
Property Management Fees -$99
CASH FLOW
-$81

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.

$475,000

PROJECTED PRICE

$2,150

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 2.5%
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-$5.0k$0.0$5.0k$10k$15k$20k

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$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,753

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$25,644

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $2,272

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,2503$2,3004$2,3505$2,395
$2,395
RENT COMPS ANALYSIS
  • 2023 S Iowa Place Chandler, AZ 1
    • 4 beds 3 baths ∙ 2,430 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,430 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1229 W Raven Drive Chandler, AZ 2
    • 5 beds 3 baths ∙ 2,337 Sqft ∙ Built 1995 5 beds 3 baths ∙ 2,337 Sqft ∙ Built 1995
    property image
    LEASED 02/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.96
    •  
  • 337 W Swan Drive Chandler, AZ 3
    • 4 beds 3 baths ∙ 2,607 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,607 Sqft ∙ Built 2003
    property image
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.88
    •  
  • 643 W Winchester Drive Chandler, AZ 4
    • 4 beds 4 baths ∙ 2,565 Sqft ∙ Built 2020 4 beds 4 baths ∙ 2,565 Sqft ∙ Built 2020
    property image
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.92
    •  
  • 2942 S Holguin Way Chandler, AZ 5
    • 4 beds 2 baths ∙ 2,447 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,447 Sqft ∙ Built 2000
    property image
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.98
    •  
PROPERTY LISTING DETAILS
Aartie Aiyer
Aartie Aiyer Realty Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6157584
Last Updated: 11/07/2020
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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