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234 E Mead Drive Chandler, AZ 85249

3 Beds 3 Baths 2,305 sqft Built 2014

$599,900

List Price

$2,340

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $260.26
  • 3 Days on Market
  • MLS # : 6167833
  • Updated Date : 12/05/2020 at 23:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,305 sqft
  • Baths : 2 full , 1 half
Listing Agent

My Home Group Real Estate

Listing Agent's Description

Simply Gorgeous home in a highly desirable location! Only 5 years old, already updated so much that you'll feel like its brand new! Custom lighting. Wood look tile throughout. Beautiful gourmet kitchen with white shaker cabinets, custom back splash, quartz counters, double oven, 36'' cooktop, all stainless appliances. Custom Wood Accent wall in the dinning area. Updated master bath with luxury bath/shower. Laundry has custom tile and shaker cabinets. Custom plantation shutters throughout. Beautiful outdoor space features serene pool with travertine surround and covered patio with outdoor kitchen. Split 3 car garage. Paver driveway and courtyard. Turf in the front yard, grass in the back. Meticulously maintained. This is a Unicorn. Hard to find home with all the touches. Welcome Home

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Chandler

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $122k403k

* 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
Fulton Elementary School Primary Regular 995 48 9
Fulton Elementary School Middle Regular 995 48 9
Hamilton High School High Regular 3,740 190 8

Fulton Elementary School

  • Education Level: Primary
  • # of students: 995
  • # of teachers: 48
9
GreatSchools Rating

Fulton Elementary School

  • Education Level: Middle
  • # of students: 995
  • # of teachers: 48
9
GreatSchools Rating

Hamilton High School

  • Education Level: High
  • # of students: 3,740
  • # of teachers: 190
8
GreatSchools Rating
 

$539,910$659,890$599,900

PURCHASE PRICE

$2,106$2,574$2,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,340
EXPENSES Loan Payment -$2,213
Property Tax -$349
Property Insurance -$72
HOA -$70
Property Management Fees -$99
CASH FLOW
-$464

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.

$599,900

PROJECTED PRICE

$2,340

PROJECTED RENT

0.39%

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$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

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$164,724

INVESTMENT

$164,724

Down Payment
$149,975
Rehab Estimate
$5,750
Closing Costs
$8,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,213

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $149,975
Loan Amount $449,925
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$7,737

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,340

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $2,455

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$2,295
1$2,2952$2,2953$2,2954$2,3405$2,450
$2,450
RENT COMPS ANALYSIS
  • 234 E Mead Drive Chandler, AZ 4
    • 3 beds 3 baths ∙ 2,305 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,305 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $2,340
    • $1.02
    •  
  • 267 E Lynx Place Chandler, AZ 1
    • 3 beds 3 baths ∙ 2,230 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,230 Sqft ∙ Built 2014
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.03
    •  
  • 795 E Blue Ridge Way Chandler, AZ 2
    • 4 beds 3 baths ∙ 2,178 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,178 Sqft ∙ Built 2004
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.05
    •  
  • 120 W Birchwood Place Chandler, AZ 3
    • 3 beds 2 baths ∙ 2,134 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,134 Sqft ∙ Built 2000
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.08
    •  
  • 206 E Lynx Place Chandler, AZ 5
    • 3 beds 3 baths ∙ 2,230 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,230 Sqft ∙ Built 2015
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.10
    •  
PROPERTY LISTING DETAILS
Leila A. Woodard
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6167833
Last Updated: 12/05/2020
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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