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2477 W Market Place #22 Chandler, AZ 85248

3 Beds 3 Baths 1,680 sqft Built 2017

$395,900

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $235.65
  • 3 Days on Market
  • MLS # : 6199302
  • Updated Date : 02/26/2021 at 23:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,680 sqft
  • Baths : 2 full , 1 half
Listing Agent

Zillow Homes Inc

Listing Agent's Description

Photos coming soon. This pristine 3 bedroom, 2.5 bathroom townhouse with an attached 2 car garage is what you've been looking for! The kitchen boasts granite countertops, beautiful cabinetry, and an island with a breakfast bar. Head upstairs to the privacy of the primary bedroom suite with its walk-in closet and connected bathroom with double vanity sinks. The gated Ocotillo Community features many amenities such as a community pool, a biking/walking path, and clubhouse. Fantastic location with the Ocotillo Golf Club within the community and about a 10 minute drive from downtown Chandler!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: The Octotillo

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $122k459k

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

Neighborhood: The Octotillo

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000210022002300Rent in $10452356

* 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
Bogle Junior High School Middle Regular 1,225 56 8
Hamilton High School High Regular 3,740 190 8

Bogle Junior High School

  • Education Level: Middle
  • # of students: 1,225
  • # of teachers: 56
8
GreatSchools Rating

Hamilton High School

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

$356,310$435,490$395,900

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 -$1,375
Property Tax -$287
Property Insurance -$60
HOA -$331
Property Management Fees -$99
CASH FLOW
-$152

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.

$395,900

PROJECTED PRICE

$2,000

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.3%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$110,664

INVESTMENT

$110,664

Down Payment
$98,975
Rehab Estimate
$5,750
Closing Costs
$5,939

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,375

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $98,975
Loan Amount $296,925
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$8,134

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
  • $1.19

    LIST RENT PER SQFT
  • $1,999

    COMP ESTIMATED VALUE
  • $1.19

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$2,0003$2,0004$2,1005$2,100
$2,100
RENT COMPS ANALYSIS
  • 2477 W Market Place #22 Chandler, AZ 3
    • 3 beds 3 baths ∙ 1,680 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,680 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.19
    •  
  • 2477 W Market Place #44 Chandler, AZ 1
    • 3 beds 3 baths ∙ 1,680 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,680 Sqft ∙ Built 2017
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.07
    •  
  • 2477 W Market Place #55 Chandler, AZ 2
    • 3 beds 3 baths ∙ 1,680 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,680 Sqft ∙ Built 2016
    LEASED 02/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.19
    •  
  • 2477 W Market Place #6 Chandler, AZ 4
    • 3 beds 3 baths ∙ 1,680 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,680 Sqft ∙ Built 2016
    LEASED 03/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.25
    •  
  • 2477 W Market Place #32 Chandler, AZ 5
    • 3 beds 3 baths ∙ 1,680 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,680 Sqft ∙ Built 2017
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.25
    •  
PROPERTY LISTING DETAILS
Yvonne C Bondanza-whittaker
Zillow Homes Inc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6199302
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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