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21422 E Russet Road Queen Creek, AZ 85142

3 Beds 3 Baths 2,921 sqft Built 2008

$478,000

List Price

$2,250

$2K - $2.5K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $163.64
  • 3 Days on Market
  • MLS # : 6160030
  • Updated Date : 11/13/2020 at 15:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,921 sqft
  • Baths : 3 full
Listing Agent

Homesmart

Listing Agent's Description

Welcome home. This 3 bed, 3 bath spacious home has many upgrades including cherry wood kitchen cabinets with granite counter tops, a double oven and warming drawer, custom back splash, under cabinet lighting quiet close drawers and pullouts in many cabinets. Huge family/game room to enjoy while cooking in the kitchen. Master suite has a walk in shower, 2 separate sinks and private toilet room. 2nd bedroom/in law suite has a full bath. Laundry has a gas dryer bib and plenty of room for a fridge or freezer. 3 car garage with plenty of storage. New floor through out the home with 35 year warranty. Back yard has a covered patio with gas bib for your BBQ and artificial grass. Large lot with a RV gate. All meticulously maintained by owners. A MUST SEE.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Nauvoo Station

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $109k377k

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

Neighborhood: Nauvoo Station

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9891882

* 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
 

$430,200$525,800$478,000

PURCHASE PRICE

$2,025$2,475$2,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,250
EXPENSES Loan Payment -$1,764
Property Tax -$361
Property Insurance -$84
HOA -$111
Property Management Fees -$99
CASH FLOW
-$169

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.

$478,000

PROJECTED PRICE

$2,250

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 4.9%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

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$132,420

INVESTMENT

$132,420

Down Payment
$119,500
Rehab Estimate
$5,750
Closing Costs
$7,170

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,764

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $119,500
Loan Amount $358,500
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$18,418

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,250

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,286

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$2,2003$2,2504$2,3005$2,650
$2,650
RENT COMPS ANALYSIS
  • 21422 E Russet Road Queen Creek, AZ 3
    • 3 beds 3 baths ∙ 2,921 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,921 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.77
    •  
  • 22464 E Munoz Street Queen Creek, AZ 1
    • 3 beds 2 baths ∙ 2,588 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,588 Sqft ∙ Built 2016
    LEASED 09/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.70
    •  
  • 21302 S 202nd Street Queen Creek, AZ 2
    • 4 beds 4 baths ∙ 2,712 Sqft ∙ Built 2016 4 beds 4 baths ∙ 2,712 Sqft ∙ Built 2016
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.81
    •  
  • 21141 E Via Del Oro -- Queen Creek, AZ 4
    • 4 beds 3 baths ∙ 2,863 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,863 Sqft ∙ Built 2002
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.80
    •  
  • 21539 S 215th Place Queen Creek, AZ 5
    • 4 beds 4 baths ∙ 3,245 Sqft ∙ Built 2007 4 beds 4 baths ∙ 3,245 Sqft ∙ Built 2007
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.82
    •  
PROPERTY LISTING DETAILS
Thomas A Parker
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6160030
Last Updated: 11/13/2020
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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