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229 N Fresno Street Chandler, AZ 85225

3 Beds 2 Baths 978 sqft Built 1956

$229,900

List Price

$1,050

$945 - $1.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1956
  • Price/Sqft : $235.07
  • 3 Days on Market
  • MLS # : 6209155
  • Updated Date : 03/19/2021 at 05:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 978 sqft
  • Baths : 2 full
Listing Agent

A.r.i. & C.

Listing Agent's Description

Please do not disturb tenants. Viewing of inside only with accepted contract. This 3 bedroom 2 Bath home has a perfect location walking distance to most of the Chandler attractions. The home will need a full remodel and is priced accordingly. It does have a new roof in 2020 along with a lot of new framing and fascia on the roof. New water heater and main sewer line also in 2020. It will need a new kitchen, bathrooms remodeled, windows, stucco work, plumbing, and some electrical work. None of the appliances convey(including stove) They are all owned by the tenant. Will not go FHA due to condition. No assignment contracts please!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Chandler

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $115k358k

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

Neighborhood: Chandler

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10392090

* 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
Willis Junior High School Middle Regular 947 51 6
Chandler High School High Regular 3,176 153 5

Willis Junior High School

  • Education Level: Middle
  • # of students: 947
  • # of teachers: 51
6
GreatSchools Rating

Chandler High School

  • Education Level: High
  • # of students: 3,176
  • # of teachers: 153
5
GreatSchools Rating
 

$206,910$252,890$229,900

PURCHASE PRICE

$945$1,155$1,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,050
EXPENSES Loan Payment -$799
Property Tax -$134
Property Insurance -$46
Property Management Fees -$99
CASH FLOW
-$28

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.

$229,900

PROJECTED PRICE

$1,050

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.6%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,674

INVESTMENT

$66,674

Down Payment
$57,475
Rehab Estimate
$5,750
Closing Costs
$3,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$799

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,475
Loan Amount $172,425
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$11,035

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,050

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $1,037

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$900
1$9002$1,0503$1,3004$1,499
$1,499
RENT COMPS ANALYSIS
  • 229 N Fresno Street Chandler, AZ 2
    • 3 beds 2 baths ∙ 978 Sqft ∙ Built 1956 3 beds 2 baths ∙ 978 Sqft ∙ Built 1956
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $1.07
    •  
  • 221 W Whitten Street Chandler, AZ 1
    • 3 beds 1 baths ∙ 960 Sqft ∙ Built 1968 3 beds 1 baths ∙ 960 Sqft ∙ Built 1968
    property image
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $900
    • $0.94
    •  
  • 1216 N Dakota Street Chandler, AZ 3
    • 3 beds 2 baths ∙ 1,176 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,176 Sqft ∙ Built 1972
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.11
    •  
  • 667 W Ivanhoe Street Chandler, AZ 4
    • 3 beds 2 baths ∙ 1,326 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,326 Sqft ∙ Built 1960
    property image
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $1.13
    •  
PROPERTY LISTING DETAILS
Rick Hanson
A.r.i. & C.
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6209155
Last Updated: 03/19/2021
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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