Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2422 W Binner Drive Chandler, AZ 85224

3 Beds 2 Baths 2,154 sqft Built 1997

$435,000

List Price

$2,090

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $201.95
  • 5 Days on Market
  • MLS # : 6172106
  • Updated Date : 01/07/2021 at 16:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,154 sqft
  • Baths : 2 full
Listing Agent

Realty One Group

Listing Agent's Description

Popular Castille Subdivision in Chandler-Move in ready! Single Level, Split floor plan with 3 Bedrooms, 2 Baths, Den, 2 car garage and Gorgeous Backyard with Pool. Welcoming curb appeal with paved walkway and recently updated landscaping.NEW PAINT on exterior. Spacious, open floor plan with wood grain title in main living areas. Kitchen open to Family Room with recently updated cabinetry and granite countertops. Generously sized master ensuite with nice tile surround shower, double sinks and walk in closet. Backyard has so much to offer-Pool with waterfall, fire pit, built in BBQ and Putting Green! Conveniently located in Chandler close to Chandler Mall, additional shopping, restaurants, and convenient to the 101 & 202.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Castille

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $122k489k

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

Neighborhood: Castille

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000210022002300Rent in $10452350

* 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
Conley Elementary School Primary Regular 764 43 5
Andersen Junior High School Middle Regular 924 47 6
Chandler High School High Regular 3,176 153 5

Conley Elementary School

  • Education Level: Primary
  • # of students: 764
  • # of teachers: 43
5
GreatSchools Rating

Andersen Junior High School

  • Education Level: Middle
  • # of students: 924
  • # of teachers: 47
6
GreatSchools Rating

Chandler High School

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

$391,500$478,500$435,000

PURCHASE PRICE

$1,881$2,299$2,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,090
EXPENSES Loan Payment -$1,511
Property Tax -$253
Property Insurance -$69
HOA -$45
Property Management Fees -$99
CASH FLOW
$113

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.

$435,000

PROJECTED PRICE

$2,090

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 7.3%
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

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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$121,025

INVESTMENT

$121,025

Down Payment
$108,750
Rehab Estimate
$5,750
Closing Costs
$6,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,511

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $108,750
Loan Amount $326,250
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$34,446

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,090

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $2,159

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$2,0903$2,2004$2,3505$2,400
$2,400
RENT COMPS ANALYSIS
  • 2422 W Binner Drive Chandler, AZ 2
    • 3 beds 2 baths ∙ 2,154 Sqft ∙ Built 1997 3 beds 2 baths ∙ 2,154 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $0.97
    •  
  • 900 S 94th Street #1200 Chandler, AZ 1
    • 4 beds 4 baths ∙ 1,960 Sqft ∙ Built 2008 4 beds 4 baths ∙ 1,960 Sqft ∙ Built 2008
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.97
    •  
  • 853 N Blackstone Court Chandler, AZ 3
    • 4 beds 3 baths ∙ 2,162 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,162 Sqft ∙ Built 1995
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.02
    •  
  • 1641 W Carla Vista Drive Chandler, AZ 4
    • 4 beds 2 baths ∙ 2,371 Sqft ∙ Built 1986 4 beds 2 baths ∙ 2,371 Sqft ∙ Built 1986
    property image
    LEASED 12/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.99
    •  
  • 3661 W Linda Lane Chandler, AZ 5
    • 4 beds 3 baths ∙ 2,324 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,324 Sqft ∙ Built 1991
    property image
    LEASED 12/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.03
    •  
PROPERTY LISTING DETAILS
Erin Ethridge
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6172106
Last Updated: 01/07/2021
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.

BESbswy