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234 E Alcatara Avenue Queen Creek, AZ 85140

2 Beds 2 Baths 1,573 sqft Built 2018

$419,900

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $266.94
  • 4 Days on Market
  • MLS # : 6180781
  • Updated Date : 01/14/2021 at 16:42
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,573 sqft
  • Baths : 2 full
Listing Agent

Realty One Group

Listing Agent's Description

Come live the good life at Encanterra! With 5 star resort amenities. Gently used home, loaded with over 80k in options. Some of the options include, upgraded countertops, beautiful tiled showers, plank tile laid at an angle, upgraded carpet in bedrooms, gourmet kitchen cabinets, surround sound and under-cabinet/above-cabinet lighting in the kitchen, lower cabinet lighting in the bathrooms, smooth santa fe drywall finish, soft water and RO System, painted window sills throughout the home, custom landscaping, upgraded plumbing fixtures, and a lot premium of 20k with no neighbor to the east! Come live your best life at Encanterra!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Encanterra

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $109k271k

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

Neighborhood: Encanterra

ZipNIR Market*CityMarket2010Year20002019 Q2100010501100115012001250130013501400145015001550Rent in $9681567

* 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
Ellsworth Elementary School Primary Regular 635 22 6
Ellsworth Elementary School Middle Regular 635 22 6
Combs High School High Regular 1,302 49 3

Ellsworth Elementary School

  • Education Level: Primary
  • # of students: 635
  • # of teachers: 22
6
GreatSchools Rating

Ellsworth Elementary School

  • Education Level: Middle
  • # of students: 635
  • # of teachers: 22
6
GreatSchools Rating

Combs High School

  • Education Level: High
  • # of students: 1,302
  • # of teachers: 49
3
GreatSchools Rating
 

$377,910$461,890$419,900

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,458
Property Tax -$229
Property Insurance -$58
HOA -$122
Property Management Fees -$99
CASH FLOW
$33

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.

$419,900

PROJECTED PRICE

$2,000

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 4.0%
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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$117,024

INVESTMENT

$117,024

Down Payment
$104,975
Rehab Estimate
$5,750
Closing Costs
$6,299

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,458

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $104,975
Loan Amount $314,925
See What Happens When You Reinvest Cash Flow

5.75

YEARS SAVED

$27,470

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $1.27

    LIST RENT PER SQFT
  • $2,087

    COMP ESTIMATED VALUE
  • $1.33

    COMP AVG. RENT PER SQFT
Comps Range
$1,599
1$1,5992$1,7503$1,9004$2,000
$2,000
RENT COMPS ANALYSIS
  • 234 E Alcatara Avenue Queen Creek, AZ 4
    • 2 beds 2 baths ∙ 1,573 Sqft ∙ Built 2018 2 beds 2 baths ∙ 1,573 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.27
    •  
  • 1602 E Azafran Trail San Tan Valley, AZ 1
    • 2 beds 2 baths ∙ 1,314 Sqft ∙ Built 2012 2 beds 2 baths ∙ 1,314 Sqft ∙ Built 2012
    LEASED 09/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $1.22
    •  
  • 631 E Myrtle Pass San Tan Valley, AZ 2
    • 2 beds 2 baths ∙ 1,322 Sqft ∙ Built 2018 2 beds 2 baths ∙ 1,322 Sqft ∙ Built 2018
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.32
    •  
  • 674 E Myrtle Pass -- San Tan Valley, AZ 3
    • 2 beds 2 baths ∙ 1,318 Sqft ∙ Built 2019 2 beds 2 baths ∙ 1,318 Sqft ∙ Built 2019
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.44
    •  
PROPERTY LISTING DETAILS
Garrett Chamberlin
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6180781
Last Updated: 01/14/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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