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22474 S 198th Circle Queen Creek, AZ 85142

3 Beds 3 Baths 2,995 sqft Built 2001

INVESTimate

$665,000

List Price

$2,740

$2,490 - $2,990

Rent Est.

$686,480  ( +3.23%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2001
  • Price/Sqft : $222.04
  • 7 Days on Market
  • MLS # : 6119913
  • Updated Date : 08/25/2020 at 10:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,995 sqft
  • Baths : 2 full , 1 half
Listing Agent

Professional One Realty

Listing Agent's Description

DETACHED GARAGE/SHOP! Welcome to beautiful Circle G Ranches! Stunning Southwest Style Custom home, private courtyard entrance invites you in to this beautiful great room plan w/ 3 bedrooms and 2.5 baths. A spacious kitchen that features gas cook top, double oven, and granite countertops & newer appliances. Tall coffered ceilings in the circular dining room. This split floorpan has a master bedroom that has a two way fireplace into this spacious master bathroom with a large jacuzzi tub, snail shower with two heads, and a huge closet. Other bedrooms have large closets as well as 10' ceilings. Large covered patio with a built in BBQ and fireplace and is great for entertaining. Back yard is tastefully landscaped. Huge drive thru workshop/ grg with a bathroom. TOO MUCH TO LIST!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Circle G

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $122k574k

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

Neighborhood: Circle G

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200240026002800Rent in $9912867

* 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
 

$598,500$731,500$665,000

PURCHASE PRICE

$2,466$3,014$2,740

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$1.4M$1.6M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,740
EXPENSES Loan Payment -$2,454
Property Tax -$485
Property Insurance -$86
HOA -$49
Property Management Fees -$99
CASH FLOW
-$432

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.

$665,000

PROJECTED PRICE

$2,740

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.23%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$181,975

INVESTMENT

$181,975

Down Payment
$166,250
Rehab Estimate
$5,750
Closing Costs
$9,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,454

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $166,250
Loan Amount $498,750
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$11,941

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
  • $2,351

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,0003$2,2004$2,3005$2,495
$2,495
RENT COMPS ANALYSIS
  • 22474 S 198th Circle Queen Creek, 1
    • 3 beds 3 baths ∙ 2,995 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,995 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 19718 E Mayberry Road Queen Creek, 2
    • 4 beds 3 baths ∙ 2,987 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,987 Sqft ∙ Built 2004
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.67
    •  
  • 21302 S 202nd Street Queen Creek, 3
    • 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, 4
    • 4 beds 3 baths ∙ 2,902 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,902 Sqft ∙ Built 2002
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.79
    •  
  • 20144 E Nighthawk Way Queen Creek, 5
    • 4 beds 4 baths ∙ 2,881 Sqft ∙ Built 2018 4 beds 4 baths ∙ 2,881 Sqft ∙ Built 2018
    LEASED 07/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.87
    •  
PROPERTY LISTING DETAILS
Staci Fanchini
Professional One Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6119913
Last Updated: 08/25/2020
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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