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2534 W Desert Spring Way Queen Creek, AZ 85142

4 Beds 3 Baths 2,068 sqft Built 2005

$290,000

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $140.23
  • 7 Days on Market
  • MLS # : 6197428
  • Updated Date : 02/26/2021 at 22:43
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,068 sqft
  • Baths : 2 full , 1 half
Listing Agent

Better Homes & Garden Real Estate Move Time Realty

Listing Agent's Description

Enter into a formal dining room that flows into a great room and kitchen area. The great room features a fireplace perfect for creating the '' Holidays Vibe''. Also, downstairs, is a very spacious main bedroom and bathroom, plus a convenient powder room. Upstairs there are 3 guest bedrooms, a loft, and, a guest bathroom featuring dual sinks. The ac is newer, replaced 2 years ago, and the water heater has been replaced 3 years ago. Thee home has a water filtration system, two car garage and easy to maintain desert front yard. The leased solar system has saved the owners $200-300 a month, with an electric bill around $200 for a household of 8.

SEE MORE

PRICE & RENT TRENDS

Zip Code: 85142

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Zip Code: 85142

ZipNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9801981

* 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
San Tan Heights Elementary School Primary Regular 583 33 2
Mountain Vista Middle School Middle Regular 331 16 1
San Tan Foothills High School High Regular 521 27 2

San Tan Heights Elementary School

  • Education Level: Primary
  • # of students: 583
  • # of teachers: 33
2
GreatSchools Rating

Mountain Vista Middle School

  • Education Level: Middle
  • # of students: 331
  • # of teachers: 16
1
GreatSchools Rating

San Tan Foothills High School

  • Education Level: High
  • # of students: 521
  • # of teachers: 27
2
GreatSchools Rating
 

$261,000$319,000$290,000

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$1,007
Property Tax -$144
Property Insurance -$68
HOA -$62
Property Management Fees -$99
CASH FLOW
$230

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.

$290,000

PROJECTED PRICE

$1,610

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.7%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

9.42

YEARS SAVED

$38,118

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,789

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,445
1$1,4452$1,6103$1,7854$1,8255$2,100
$2,100
RENT COMPS ANALYSIS
  • 2534 W Desert Spring Way Queen Creek, AZ 2
    • 4 beds 3 baths ∙ 2,068 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,068 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.78
    •  
  • 2523 W Prospector Way Queen Creek, AZ 1
    • 3 beds 3 baths ∙ 1,967 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,967 Sqft ∙ Built 2004
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $0.73
    •  
  • 1982 W Appaloosa Way Queen Creek, AZ 3
    • 4 beds 3 baths ∙ 2,068 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,068 Sqft ∙ Built 2007
    LEASED 11/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,785
    • $0.86
    •  
  • 2576 W Prospector Way Queen Creek, AZ 4
    • 4 beds 3 baths ∙ 1,967 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,967 Sqft ∙ Built 2004
    LEASED 12/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.93
    •  
  • 2797 W Roosevelt Street San Tan Valley, AZ 5
    • 4 beds 3 baths ∙ 2,229 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,229 Sqft ∙ Built 2020
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.94
    •  
PROPERTY LISTING DETAILS
Ayshica Andrews
Better Homes & Garden Real Estate Move Time Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6197428
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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