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250 W Queen Creek Road #233 Chandler, AZ 85248

3 Beds 3 Baths 1,934 sqft Built 2007

$366,900

List Price

$2,200

$2K - $2.4K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $189.71
  • 4 Days on Market
  • MLS # : 6159459
  • Updated Date : 11/14/2020 at 20:39
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,934 sqft
  • Baths : 2 full , 1 half
Listing Agent

Launch Real Estate

Listing Agent's Description

Lush gorgeous landscaping surrounds you in this quiet, gated community. Gorgeously appointed end unit, all living space on top floor. Enter through the 2 car garage and go upstairs past the designer wrought iron staircase, wet bar, spacious great room with private balcony, large open kitchen with granite countertops and upgraded cherry cabinets. Large bedrooms, lots of closets. Split floor plan, large master suite w/enormous closet. ALL NEW flooring: wood, tile and carpet and freshly painted. New A/C system, dishwasher, hot water heater and water softener were replaced in 2018.

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
 

$330,210$403,590$366,900

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$1,354
Property Tax -$218
Property Insurance -$65
HOA -$250
Property Management Fees -$99
CASH FLOW
$214

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.

$366,900

PROJECTED PRICE

$2,200

PROJECTED RENT

0.60%

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$102,979

INVESTMENT

$102,979

Down Payment
$91,725
Rehab Estimate
$5,750
Closing Costs
$5,504

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,354

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $91,725
Loan Amount $275,175
See What Happens When You Reinvest Cash Flow

7.83

YEARS SAVED

$44,112

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,200

    LIST RENT
  • $1.14

    LIST RENT PER SQFT
  • $2,210

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,1503$2,2004$2,3005$2,300
$2,300
RENT COMPS ANALYSIS
  • 250 W Queen Creek Road #233 Chandler, AZ 3
    • 3 beds 3 baths ∙ 1,934 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,934 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.14
    •  
  • 2880 S Tumbleweed Lane Chandler, AZ 1
    • 3 beds 2 baths ∙ 1,859 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,859 Sqft ∙ Built 1999
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $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
Meg Mara
Launch Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6159459
Last Updated: 11/14/2020
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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