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22680 S 228th Place Queen Creek, AZ 85142

4 Beds 3 Baths 3,337 sqft Built 2018

$585,000

List Price

$2,700

$2.5K - $3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $175.31
  • 5 Days on Market
  • MLS # : 6204059
  • Updated Date : 03/12/2021 at 19:43
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,337 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Integrity First

Listing Agent's Description

If you're ready for a new build, but tired of the fight with drawings, this is the next best thing! Built in 2018, this stunning new home has all the right upgrades. When you walk in you will love the high ceilings and how open, bright and welcoming it is! Check out the kitchen!! What a great place to entertain! Walk through the rest of the home and you'll keep falling in love! Schedule a private showing before its gone. You know this will go fast!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Meridian

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Meridian

ZipNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9801981

* 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
 

$526,500$643,500$585,000

PURCHASE PRICE

$2,430$2,970$2,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,700
EXPENSES Loan Payment -$2,032
Property Tax -$426
Property Insurance -$92
HOA -$102
Property Management Fees -$99
CASH FLOW
-$52

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.

$585,000

PROJECTED PRICE

$2,700

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.7%
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$1.4M$1.6M$1.8M

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$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$160,775

INVESTMENT

$160,775

Down Payment
$146,250
Rehab Estimate
$5,750
Closing Costs
$8,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,032

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $146,250
Loan Amount $438,750
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$26,898

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,700

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,745

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,6503$2,6704$2,7005$2,750
$2,750
RENT COMPS ANALYSIS
  • 22680 S 228th Place Queen Creek, AZ 4
    • 4 beds 3 baths ∙ 3,337 Sqft ∙ Built 2018 4 beds 3 baths ∙ 3,337 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.81
    •  
  • 22572 E Pecan Court Queen Creek, AZ 1
    • 4 beds 4 baths ∙ 3,061 Sqft ∙ Built 2014 4 beds 4 baths ∙ 3,061 Sqft ∙ Built 2014
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.85
    •  
  • 21539 S 215th Place Queen Creek, AZ 2
    • 4 beds 4 baths ∙ 3,245 Sqft ∙ Built 2007 4 beds 4 baths ∙ 3,245 Sqft ∙ Built 2007
    property image
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.82
    •  
  • 21457 E Maya Road Queen Creek, AZ 3
    • 5 beds 4 baths ∙ 3,102 Sqft ∙ Built 2007 5 beds 4 baths ∙ 3,102 Sqft ∙ Built 2007
    property image
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,670
    • $0.86
    •  
  • 21521 S 215th Place Queen Creek, AZ 5
    • 5 beds 3 baths ∙ 3,595 Sqft ∙ Built 2007 5 beds 3 baths ∙ 3,595 Sqft ∙ Built 2007
    property image
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.76
    •  
PROPERTY LISTING DETAILS
Tara R Keator
Keller Williams Integrity First
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6204059
Last Updated: 03/12/2021
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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