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2620 W Erie Street Chandler, AZ 85224

5 Beds 4 Baths 4,444 sqft Built 1998

$680,000

List Price

$2,990

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $153.02
  • 3 Days on Market
  • MLS # : 6167165
  • Updated Date : 12/05/2020 at 09:47
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,444 sqft
  • Baths : 3 full , 1 half
Listing Agent

Redfin Corporation

Listing Agent's Description

Beautiful home in sought after Chandler gated community. Close to 101/202 shopping, dining & schools. Large lot, 5 bedrooms & 3.5 bathrooms, guest bedroom downstairs & ensuite bathroom, wood flooring plus tile flooring in all the right places. Vaulted ceilings, formal living & dining areas, plantation shutters, huge kitchen with ample cabinet space, Island, double ovens, pantry opens to living area, surround sound, Loft upstairs, primary bedroom retreat overlooks backyard, has ensuite bathroom with separate tub and shower, double sinks. Backyard oasis, covered patio, pool with grotto and rock waterfall, outdoor fireplace, outdoor built in BBQ/ kitchen, grassy area perfect for entertaining. R/V gate and RV parking pad. View today!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Grand Reserve

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700k750kPrice in $122k795k

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

Neighborhood: Grand Reserve

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $10452624

* 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
Conley Elementary School Primary Regular 764 43 5
Andersen Junior High School Middle Regular 924 47 6
Chandler High School High Regular 3,176 153 5

Conley Elementary School

  • Education Level: Primary
  • # of students: 764
  • # of teachers: 43
5
GreatSchools Rating

Andersen Junior High School

  • Education Level: Middle
  • # of students: 924
  • # of teachers: 47
6
GreatSchools Rating

Chandler High School

  • Education Level: High
  • # of students: 3,176
  • # of teachers: 153
5
GreatSchools Rating
 

$612,000$748,000$680,000

PURCHASE PRICE

$2,691$3,289$2,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,990
EXPENSES Loan Payment -$2,509
Property Tax -$420
Property Insurance -$114
HOA -$28
Property Management Fees -$99
CASH FLOW
-$180

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.

$680,000

PROJECTED PRICE

$2,990

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 7.3%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$185,950

INVESTMENT

$185,950

Down Payment
$170,000
Rehab Estimate
$5,750
Closing Costs
$10,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$2,509

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $170,000
Loan Amount $510,000
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$30,932

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,990

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $3,733

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,990
1$2,9902$3,7003$3,875
$3,875
RENT COMPS ANALYSIS
  • 2620 W Erie Street Chandler, AZ 1
    • 5 beds 4 baths ∙ 4,444 Sqft ∙ Built 1998 5 beds 4 baths ∙ 4,444 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,990
    • $0.67
    •  
  • 700 N Dobson Road #25 Chandler, AZ 2
    • 4 beds 4 baths ∙ 4,507 Sqft ∙ Built 1996 4 beds 4 baths ∙ 4,507 Sqft ∙ Built 1996
    LEASED 01/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $0.82
    •  
  • 380 N Benson Lane Chandler, AZ 3
    • 5 beds 4 baths ∙ 4,514 Sqft ∙ Built 1999 5 beds 4 baths ∙ 4,514 Sqft ∙ Built 1999
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,875
    • $0.86
    •  
PROPERTY LISTING DETAILS
Dean Thornton
Redfin Corporation
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6167165
Last Updated: 12/05/2020
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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