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2587 S Santa Rita Way Chandler, AZ 85286

4 Beds 4 Baths 2,628 sqft Built 2003

$665,000

List Price

$2,250

$2K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $253.04
  • 4 Days on Market
  • MLS # : 6198038
  • Updated Date : 02/25/2021 at 08:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,628 sqft
  • Baths : 3 full , 1 half
Listing Agent

Prosmart Realty

Listing Agent's Description

Look no further. This one is it. Enjoy your privacy on this corner lot. This backyard paradise is one you will want to spend your days in the pool while grilling on your new built in BBQ. You guests have their own entrance through the courtyard. This home offers shutters, new AC unit, remodeled yard, updated powder room,spacious split floor plan with sitting area in master and en-suite in one of the secondary bedrooms. A city park is around the corner and this house is across from the Greenbelt! Come check it out before its gone...

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Paseo Trail North

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $122k474k

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

Neighborhood: Paseo Trail North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000210022002300Rent in $10452303

* 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
Santan Junior High School Middle Regular 1,291 60 9
Perry High School High Regular 3,194 142 7
Perry High School High Unknown NA

Santan Junior High School

  • Education Level: Middle
  • # of students: 1,291
  • # of teachers: 60
9
GreatSchools Rating

Perry High School

  • Education Level: High
  • # of students: 3,194
  • # of teachers: 142
7
GreatSchools Rating

Perry High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$598,500$731,500$665,000

PURCHASE PRICE

$2,025$2,475$2,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,250
EXPENSES Loan Payment -$2,310
Property Tax -$473
Property Insurance -$78
HOA -$25
Property Management Fees -$99
CASH FLOW
-$736

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.

$665,000

PROJECTED PRICE

$2,250

PROJECTED RENT

0.34%

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$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$181,975

INVESTMENT

$181,975

Down Payment
$166,250
Rehab Estimate
$5,750
Closing Costs
$9,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,310

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $166,250
Loan Amount $498,750
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$856

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,250

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,273

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,2003$2,2504$2,2505$2,349
$2,349
RENT COMPS ANALYSIS
  • 2587 S Santa Rita Way Chandler, AZ 4
    • 4 beds 4 baths ∙ 2,628 Sqft ∙ Built 2003 4 beds 4 baths ∙ 2,628 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.86
    •  
  • 3280 S Santa Rita Way Chandler, AZ 1
    • 5 beds 3 baths ∙ 2,566 Sqft ∙ Built 2016 5 beds 3 baths ∙ 2,566 Sqft ∙ Built 2016
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.86
    •  
  • 3224 S Wilson Drive Chandler, AZ 2
    • 4 beds 3 baths ∙ 2,478 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,478 Sqft ∙ Built 2005
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.89
    •  
  • 3454 E Sparrow Place Chandler, AZ 3
    • 4 beds 3 baths ∙ 2,678 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,678 Sqft ∙ Built 2003
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.84
    •  
  • 837 E Wimpole Avenue Gilbert, AZ 5
    • 4 beds 3 baths ∙ 2,711 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,711 Sqft ∙ Built 2012
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,349
    • $0.87
    •  
PROPERTY LISTING DETAILS
Heather Taylor
Prosmart Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6198038
Last Updated: 02/25/2021
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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