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21140 E Cherrywood Drive Queen Creek, AZ 85142

4 Beds 2 Baths 1,561 sqft Built 2012

$350,000

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $224.22
  • 3 Days on Market
  • MLS # : 6189914
  • Updated Date : 02/05/2021 at 18:26
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,561 sqft
  • Baths : 2 full
Listing Agent

Redfin Corporation

Listing Agent's Description

Pristine & beautifully remodeled single level 4 bed 2 bath home on a premium lot w/ no neighbors behind that is just a few steps away from the community park. Split floor plan w/ the kitchen open to the family room. Tile in all traffic areas. Farmhouse feel, white cabinets, quartz counters, stainless steel appliances and subway tile backsplash. Breakfast nook eating area. Barn door in family room that closes off secondary bedrooms to the rest of the home. Primary suite is oversized w/ a walking closet & laminate wood flooring. Backyard has a covered patio w/ pavers, very low maintenance w/ artificial turf, view fence & no neighbors directly behind the home.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Hastings Farms

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $109k357k

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

Neighborhood: Hastings Farms

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9912020

* 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
Queen Creek Elementary School Primary Regular 495 29 8
Newell Barney Junior High School Middle Regular 785 35 7
Queen Creek High School High Regular 1,799 73 5

Queen Creek Elementary School

  • Education Level: Primary
  • # of students: 495
  • # of teachers: 29
8
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
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$1,216
Property Tax -$255
Property Insurance -$58
HOA -$115
Property Management Fees -$99
CASH FLOW
-$172

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$350,000

PROJECTED PRICE

$1,570

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 7.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

2.75

YEARS SAVED

$7,631

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
  • $1,534

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,4503$1,5254$1,7505$1,750
$1,750
RENT COMPS ANALYSIS
  • 21140 E Cherrywood Drive Queen Creek, AZ 1
    • 4 beds 2 baths ∙ 1,561 Sqft ∙ Built 2012 4 beds 2 baths ∙ 1,561 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 20915 E Via Del Rancho -- Queen Creek, AZ 2
    • 3 beds 2 baths ∙ 1,525 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,525 Sqft ∙ Built 2003
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.95
    •  
  • 21418 E Camina Plata Court Queen Creek, AZ 3
    • 4 beds 2 baths ∙ 1,678 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,678 Sqft ∙ Built 2004
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.91
    •  
  • 21362 E Via Del Palo -- Queen Creek, AZ 4
    • 3 beds 2 baths ∙ 1,695 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,695 Sqft ∙ Built 2005
    LEASED 11/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.03
    •  
  • 21532 E Calle De Flores -- Queen Creek, AZ 5
    • 3 beds 2 baths ∙ 1,683 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,683 Sqft ∙ Built 2003
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.04
    •  
PROPERTY LISTING DETAILS
Rebekah Liperote
Redfin Corporation
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6189914
Last Updated: 02/05/2021
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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