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2838 E Balsam Drive Chandler, AZ 85286

5 Beds 4 Baths 3,824 sqft Built 2005

INVESTimate

$649,900

List Price

$2,610

$2,360 - $2,860

Rent Est.

$679,275  ( +4.52%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $169.95
  • 5 Days on Market
  • MLS # : 6121319
  • Updated Date : 08/26/2020 at 01:53
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,824 sqft
  • Baths : 3 full , 1 half
Listing Agent

Homesmart

Listing Agent's Description

NICEST BASEMENT home in the area. Heavily upgraded with travertine and granite stone in the most important places, kitchen and all bathrooms. Spit floor plan with full size basement with two beds, full bathroom, and living area. Basement includes kitchenette granite bar area. Oasis backyard with gas heated pool and built-in custom gas grill built in 2015. New roof (2020), new carpet (2019), new sump pump (2020). This home has too much to list. It's a must see.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Sunwest Trails

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $122k432k

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

Neighborhood: Sunwest Trails

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100220023002400Rent in $10452412

* 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
Haley Elementary School Primary Regular 850 49 9
Haley Elementary School Middle Regular 850 49 9
Perry High School High Regular 3,194 142 7

Haley Elementary School

  • Education Level: Primary
  • # of students: 850
  • # of teachers: 49
9
GreatSchools Rating

Haley Elementary School

  • Education Level: Middle
  • # of students: 850
  • # of teachers: 49
9
GreatSchools Rating

Perry High School

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

$584,910$714,890$649,900

PURCHASE PRICE

$2,349$2,871$2,610

RENT

DOWN PAYMENT
FINANCING

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

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,610
EXPENSES Loan Payment -$2,398
Property Tax -$463
Property Insurance -$102
HOA -$63
Property Management Fees -$99
CASH FLOW
-$514

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.

$649,900

PROJECTED PRICE

$2,610

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.52%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$177,974

INVESTMENT

$177,974

Down Payment
$162,475
Rehab Estimate
$5,750
Closing Costs
$9,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,398

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $162,475
Loan Amount $487,425
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$7,234

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $2,868

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,7953$2,7954$2,8505$2,950
$2,950
RENT COMPS ANALYSIS
  • 2838 E Balsam Drive Chandler, 1
    • 5 beds 4 baths ∙ 3,824 Sqft ∙ Built 2005 5 beds 4 baths ∙ 3,824 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3082 S Cottonwood Court Chandler, 2
    • 4 beds 3 baths ∙ 3,676 Sqft ∙ Built 2007 4 beds 3 baths ∙ 3,676 Sqft ∙ Built 2007
    property image
    LEASED 07/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $0.76
    •  
  • 2555 E Honeysuckle Place Chandler, 3
    • 5 beds 4 baths ∙ 3,962 Sqft ∙ Built 2005 5 beds 4 baths ∙ 3,962 Sqft ∙ Built 2005
    property image
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $0.71
    •  
  • 3211 E Lark Drive Chandler, 4
    • 5 beds 5 baths ∙ 3,914 Sqft ∙ Built 2003 5 beds 5 baths ∙ 3,914 Sqft ∙ Built 2003
    property image
    LEASED 12/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.73
    •  
  • 2807 E Desert Broom Place Chandler, 5
    • 5 beds 4 baths ∙ 3,667 Sqft ∙ Built 2005 5 beds 4 baths ∙ 3,667 Sqft ∙ Built 2005
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.80
    •  
PROPERTY LISTING DETAILS
Jakeima J Robinson
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6121319
Last Updated: 08/26/2020
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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