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2511 W Queen Creek Road #336 Chandler, AZ 85248

2 Beds 2 Baths 1,346 sqft Built 2016

$380,000

List Price

$1,980

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $282.32
  • 3 Days on Market
  • MLS # : 6163134
  • Updated Date : 11/21/2020 at 09:59
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,346 sqft
  • Baths : 2 full
Listing Agent

Prosmart Realty

Listing Agent's Description

Beautiful Luxury Resort Style Community and condominium located at The Cays at Downtown Ocotillo. MODEL HOME!! Beautiful upgrades, neutral custom paint, 12x24 tile floor and showers throughout, carpet in bedrooms, quartz counter tops in kitchen and baths, large kitchen island, upgraded light gray cabinets in kitchen & bath, ceiling fans, 2 in window blinds, Stainless steel kitchen appliances, W/D. Master bath over sized walk in shower, dual sinks, both BR walk in closets, balcony with sitting area. Community features expansive 4,500 SF clubhouse w/ tech center, TV's, gas fireplace, kitchen w/ large island, gaming tables, 1,800 SF fitness & yoga center. Private locker room w/ shower & steam room, Large resort style heated pool & spa. Two assigned parking stalls in under ground parking.

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
Jacobson Elementary School Primary Regular 889 41 9
Jacobson Elementary School Middle Regular 889 41 9
Hamilton High School High Regular 3,740 190 8

Jacobson Elementary School

  • Education Level: Primary
  • # of students: 889
  • # of teachers: 41
9
GreatSchools Rating

Jacobson Elementary School

  • Education Level: Middle
  • # of students: 889
  • # of teachers: 41
9
GreatSchools Rating

Hamilton High School

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

$342,000$418,000$380,000

PURCHASE PRICE

$1,782$2,178$1,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,980
EXPENSES Loan Payment -$1,402
Property Tax -$275
Property Insurance -$53
HOA -$388
Property Management Fees -$99
CASH FLOW
-$238

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.

$380,000

PROJECTED PRICE

$1,980

PROJECTED RENT

0.52%

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

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$106,450

INVESTMENT

$106,450

Down Payment
$95,000
Rehab Estimate
$5,750
Closing Costs
$5,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,402

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $95,000
Loan Amount $285,000
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$4,769

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,980

    LIST RENT
  • $1.47

    LIST RENT PER SQFT
  • $1,972

    COMP ESTIMATED VALUE
  • $1.46

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9803$2,0004$2,0005$2,250
$2,250
RENT COMPS ANALYSIS
  • 2511 W Queen Creek Road #336 Chandler, AZ 2
    • 2 beds 2 baths ∙ 1,346 Sqft ∙ Built 2016 2 beds 2 baths ∙ 1,346 Sqft ∙ Built 2016
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $1.47
    •  
  • 2511 W Queen Creek Road #141 Chandler, AZ 1
    • 2 beds 2 baths ∙ 1,346 Sqft ∙ Built 2018 2 beds 2 baths ∙ 1,346 Sqft ∙ Built 2018
    property image
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.37
    •  
  • 2511 W Queen Creek Road #238 Chandler, AZ 3
    • 2 beds 2 baths ∙ 1,346 Sqft ∙ Built 2016 2 beds 2 baths ∙ 1,346 Sqft ∙ Built 2016
    property image
    LEASED 12/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.49
    •  
  • 2511 W Queen Creek Road #325 Chandler, AZ 4
    • 2 beds 2 baths ∙ 1,346 Sqft ∙ Built 2016 2 beds 2 baths ∙ 1,346 Sqft ∙ Built 2016
    property image
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.49
    •  
  • 2511 W Queen Creek Road #351 Chandler, AZ 5
    • 2 beds 2 baths ∙ 1,489 Sqft ∙ Built 2018 2 beds 2 baths ∙ 1,489 Sqft ∙ Built 2018
    property image
    LEASED 07/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.51
    •  
PROPERTY LISTING DETAILS
Shamile Hirsh
Prosmart Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6163134
Last Updated: 11/21/2020
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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