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250 W Queen Creek Road #226 Chandler, AZ 85248

3 Beds 3 Baths 1,934 sqft Built 2018

$395,000

List Price

$2,210

$2K - $2.4K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $204.24
  • 4 Days on Market
  • MLS # : 6178166
  • Updated Date : 01/14/2021 at 19:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,934 sqft
  • Baths : 3 full
Listing Agent

Berkshire Hathaway Homeservices Arizona Properties

Listing Agent's Description

An Absolutely BEAUTIFUL home located at the highly desirable gated community of Carino Villas! This 2018 new build has EVERYTHING you would want in a home. 3 bedrooms and 3 Full bathrooms for added convenience. 2nd Bedroom has an En-Suite Bathroom! Wide open floor plan with a spacious kitchen and Great Room. The Kitchen features Quartz Countertops, Tile Backsplash, SS GE Appliances, Upgraded Cabinets and a Plethora of Storage! The Master Bedroom has an En-Suite Bathroom with an Over-sized, Subway Tiled, Luxurious Walk-in-Shower, Double Vanity Sinks, a Private Toilet Room and a Walk-In-Closet to DIE for! Enjoy an Un-Matched Arizona Sunset from your Private Balcony. Corner Lot with a 2-Car Garage, with easy access to the Community Pool and Greenbelt! Are you ready to come Home?

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Chandler

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $122k377k

* 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
Hancock Elementary School Primary Regular 863 43 8
Bogle Junior High School Middle Regular 1,225 56 8
Hamilton High School High Regular 3,740 190 8

Hancock Elementary School

  • Education Level: Primary
  • # of students: 863
  • # of teachers: 43
8
GreatSchools Rating

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
 

$355,500$434,500$395,000

PURCHASE PRICE

$1,989$2,431$2,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,210
EXPENSES Loan Payment -$1,372
Property Tax -$230
Property Insurance -$65
HOA -$250
Property Management Fees -$99
CASH FLOW
$194

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.

$395,000

PROJECTED PRICE

$2,210

PROJECTED RENT

0.56%

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

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$110,425

INVESTMENT

$110,425

Down Payment
$98,750
Rehab Estimate
$5,750
Closing Costs
$5,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,372

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $98,750
Loan Amount $296,250
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$36,759

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,210

    LIST RENT
  • $1.14

    LIST RENT PER SQFT
  • $2,210

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1503$2,2104$2,3005$2,300
$2,300
RENT COMPS ANALYSIS
  • 250 W Queen Creek Road #226 Chandler, AZ 3
    • 3 beds 3 baths ∙ 1,934 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,934 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,210
    • $1.14
    •  
  • 151 E Bluejay Drive Chandler, AZ 1
    • 3 beds 3 baths ∙ 1,945 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,945 Sqft ∙ Built 2017
    LEASED 01/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.08
    •  
  • 250 W Queen Creek Road #208 Chandler, AZ 2
    • 3 beds 3 baths ∙ 1,934 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,934 Sqft ∙ Built 2017
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.11
    •  
  • 250 W Queen Creek Road #217 Chandler, AZ 4
    • 3 beds 3 baths ∙ 1,934 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,934 Sqft ∙ Built 2016
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.19
    •  
  • 250 W Queen Creek Road #222 Chandler, AZ 5
    • 3 beds 3 baths ∙ 1,934 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,934 Sqft ∙ Built 2017
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.19
    •  
PROPERTY LISTING DETAILS
Ashley Johns
Berkshire Hathaway Homeservices Arizona Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6178166
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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