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2403 N Longmore Street Chandler, AZ 85224

3 Beds 2 Baths 1,508 sqft Built 1980

$400,000

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $265.25
  • 3 Days on Market
  • MLS # : 6178057
  • Updated Date : 01/08/2021 at 16:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,508 sqft
  • Baths : 2 full
Listing Agent

The Agency

Listing Agent's Description

Stunning, Renovated home with no expense spared. Home was completely remodeled down to the studs in 2017 with new kitchen cabinets, new plumbing, new electric, new windows, new doors, remodeled pool and pool deck, new paint, new lighting, new roof etc. The master bedroom is a beautiful suite that includes 3 closets and dual sinks and walk in shower with bench. Entertainers dream with open and inviting floor plan that leads out to the oasis-like backyard with pool and spa. 3 parking spaces in front plus 2 in detached garage, with RV parking in backyard. No HOA and a 2 minute walk to the dog park, children's playground and large greenbelts.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Southwest Shawnee Park

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k320k

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

Neighborhood: Southwest Shawnee Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8411780

* 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
Franklin At Alma Elementary School Primary Regular 280 13 10
Franklin At Alma Elementary School Middle Regular 280 13 10
Dobson High School High Regular 2,639 122 4

Franklin At Alma Elementary School

  • Education Level: Primary
  • # of students: 280
  • # of teachers: 13
10
GreatSchools Rating

Franklin At Alma Elementary School

  • Education Level: Middle
  • # of students: 280
  • # of teachers: 13
10
GreatSchools Rating

Dobson High School

  • Education Level: High
  • # of students: 2,639
  • # of teachers: 122
4
GreatSchools Rating
 

$360,000$440,000$400,000

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,389
Property Tax -$226
Property Insurance -$57
Property Management Fees -$99
CASH FLOW
-$21

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.

$400,000

PROJECTED PRICE

$1,750

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 8.1%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$23,039

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $1.16

    LIST RENT PER SQFT
  • $1,734

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7503$1,8004$1,9005$1,900
$1,900
RENT COMPS ANALYSIS
  • 2403 N Longmore Street Chandler, AZ 2
    • 3 beds 2 baths ∙ 1,508 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,508 Sqft ∙ Built 1980
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.16
    •  
  • 1606 W Barrow Drive Chandler, AZ 1
    • 3 beds 2 baths ∙ 1,577 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,577 Sqft ∙ Built 1984
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.07
    •  
  • 1705 W Rosal Drive Chandler, AZ 3
    • 3 beds 2 baths ∙ 1,508 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,508 Sqft ∙ Built 1980
    property image
    LEASED 09/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.19
    •  
  • 1704 W Barrow Drive Chandler, AZ 4
    • 3 beds 2 baths ∙ 1,577 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,577 Sqft ∙ Built 1984
    property image
    LEASED 03/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.20
    •  
  • 1115 W Barrow Drive Chandler, AZ 5
    • 3 beds 2 baths ∙ 1,661 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,661 Sqft ∙ Built 1981
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.14
    •  
PROPERTY LISTING DETAILS
Abbie L Knowles
The Agency
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6178057
Last Updated: 01/08/2021
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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