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22937 E Desert Spoon Drive Queen Creek, AZ 85142

4 Beds 3 Baths 2,812 sqft Built 2018

$539,000

List Price

$2,190

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $191.68
  • 3 Days on Market
  • MLS # : 6199349
  • Updated Date : 02/26/2021 at 01:11
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,812 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Realty Sonoran Living

Listing Agent's Description

4BR/3BA & over 2,800 SF welcomes spacious, open floor plan w/ UPGRADES THROUGHOUT. The gourmet kitchen is a culinary dream offering black appliances, granite countertops, huge center island, & walk-in pantry! Getaway to the master suite with his/her vanities, separate shower/tub & walk-in closet. 75'' SMART TV in family room, carpet/tile throughout, ceiling fans in every room, and extra storage & countertop in laundry room! Entertain in the grassy backyard with extended paved patio! WALKING DISTANCE to community pool, park, & Faith Mather Elementary School. 10 minutes to Harkins Theaters, shopping, & dining! Less than 15 minutes to Mesa-Gateway Airport! 15 minutes from Legacy Sports Complex: Opening in 2022! 45 minutes to PHX Sky Harbor! This home is a must-see!

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
 

$485,100$592,900$539,000

PURCHASE PRICE

$1,971$2,409$2,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,190
EXPENSES Loan Payment -$1,872
Property Tax -$393
Property Insurance -$82
HOA -$95
Property Management Fees -$99
CASH FLOW
-$351

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.

$539,000

PROJECTED PRICE

$2,190

PROJECTED RENT

0.41%

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

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$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$148,585

INVESTMENT

$148,585

Down Payment
$134,750
Rehab Estimate
$5,750
Closing Costs
$8,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,872

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $134,750
Loan Amount $404,250
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$6,497

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,190

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $2,285

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$2,1903$2,3004$2,4505$2,600
$2,600
RENT COMPS ANALYSIS
  • 22937 E Desert Spoon Drive Queen Creek, AZ 2
    • 4 beds 3 baths ∙ 2,812 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,812 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $0.78
    •  
  • 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
    •  
  • 22144 E Domingo Road Queen Creek, AZ 3
    • 4 beds 3 baths ∙ 2,707 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,707 Sqft ∙ Built 2014
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.85
    •  
  • 22318 S 226th Place Queen Creek, AZ 4
    • 3 beds 3 baths ∙ 2,899 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,899 Sqft ∙ Built 2016
    LEASED 09/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.85
    •  
  • 22572 E Pecan Court Queen Creek, AZ 5
    • 4 beds 4 baths ∙ 3,061 Sqft ∙ Built 2014 4 beds 4 baths ∙ 3,061 Sqft ∙ Built 2014
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.85
    •  
PROPERTY LISTING DETAILS
Mark Captain
Keller Williams Realty Sonoran Living
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6199349
Last Updated: 02/26/2021
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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