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20362 E Reins Road Queen Creek, AZ 85142

3 Beds 2 Baths 1,944 sqft Built 2018

$429,900

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2018
  • Price/Sqft : $221.14
  • 11 Days on Market
  • MLS # : 6150778
  • Updated Date : 10/29/2020 at 22:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,944 sqft
  • Baths : 2 full
Listing Agent

Corcoran Platinum Living

Listing Agent's Description

Beautiful new home built in 2018, this single story is just under 2000 sq ft,, sits on a corner lot across from the grassy common area and pool. Home is completely upgraded with tile throughout, gourmet chefs kitchen with gas range and stainless steel appliances, oversized island with granite countertops and pendant lighting, blinds through out and fans in every room. Master bath has a large walk-in shower with custom surround. This home is a must see!!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Queen Creek

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Queen Creek

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
Jack Barnes Elementary School Primary Regular 489 23 10
Queen Creek Middle School Middle Regular 787 33 6
Queen Creek High School High Regular 1,799 73 5

Jack Barnes Elementary School

  • Education Level: Primary
  • # of students: 489
  • # of teachers: 23
10
GreatSchools Rating

Queen Creek Middle School

  • Education Level: Middle
  • # of students: 787
  • # of teachers: 33
6
GreatSchools Rating

Queen Creek High School

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

$386,910$472,890$429,900

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,586
Property Tax -$329
Property Insurance -$65
HOA -$125
Property Management Fees -$99
CASH FLOW
-$484

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.

$429,900

PROJECTED PRICE

$1,720

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.0%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$119,674

INVESTMENT

$119,674

Down Payment
$107,475
Rehab Estimate
$5,750
Closing Costs
$6,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,586

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $107,475
Loan Amount $322,425
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$796

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
  • $1,842

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,7503$1,8504$1,8505$1,925
$1,925
RENT COMPS ANALYSIS
  • 20362 E Reins Road Queen Creek, AZ 1
    • 3 beds 2 baths ∙ 1,944 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,944 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 21115 E Saddle Way Queen Creek, AZ 2
    • 3 beds 2 baths ∙ 1,859 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,859 Sqft ∙ Built 2004
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.94
    •  
  • 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
    •  
  • 20755 E Mockingbird Drive Queen Creek, AZ 4
    • 4 beds 2 baths ∙ 1,944 Sqft ∙ Built 2016 4 beds 2 baths ∙ 1,944 Sqft ∙ Built 2016
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.95
    •  
  • 19914 E Carriage Way Queen Creek, AZ 5
    • 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
    •  
PROPERTY LISTING DETAILS
Kelly Hennessy
Corcoran Platinum Living
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6150778
Last Updated: 10/29/2020
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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