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295 E Detroit Street Chandler, AZ 85225

3 Beds 1 Baths 1,550 sqft Built 1942

$295,000

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1942
  • Price/Sqft : $190.32
  • 4 Days on Market
  • MLS # : 6156370
  • Updated Date : 11/06/2020 at 08:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,550 sqft
  • Baths : 1 full
Listing Agent

West Usa Realty

Listing Agent's Description

Fantastic Downtown Chandler location for this 3 bedroom, 1550sq ft home! This charming Home features Corner Lot, fireplace in family room, large master bedroom and North/South orientation. Great location and great neighborhood. Downtown Chandler is renovated with a fresh and exciting new look and feel! Downtown Chandler features fine art galleries, coffee shops, gift shops, breweries, farmer's markets, amazing restaurants, a brand new movie theater and so much more! The architecture of Downtown Chandler makes it a great place to get out and enjoy. Hurry to see this home! At this price, it won't last long!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Armstrong

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300k320kPrice in $75k320k

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

Neighborhood: Armstrong

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7311780

* 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
Galveston Elementary School Primary Regular 699 47 3
Willis Junior High School Middle Regular 947 51 6
Chandler High School High Regular 3,176 153 5

Galveston Elementary School

  • Education Level: Primary
  • # of students: 699
  • # of teachers: 47
3
GreatSchools Rating

Willis Junior High School

  • Education Level: Middle
  • # of students: 947
  • # of teachers: 51
6
GreatSchools Rating

Chandler High School

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

$265,500$324,500$295,000

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$1,088
Property Tax -$172
Property Insurance -$57
Property Management Fees -$99
CASH FLOW
-$67

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.

$295,000

PROJECTED PRICE

$1,350

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 7.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,088

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$15,582

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
  • $1,403

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,3503$1,3954$1,3955$1,700
$1,700
RENT COMPS ANALYSIS
  • 295 E Detroit Street Chandler, AZ 1
    • 3 beds 1 baths ∙ 1,550 Sqft ∙ Built 1942 3 beds 1 baths ∙ 1,550 Sqft ∙ Built 1942
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 441 N Sunset Drive Chandler, AZ 2
    • 3 beds 2 baths ∙ 1,386 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,386 Sqft ∙ Built 1956
    property image
    LEASED 09/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.97
    •  
  • 544 N Washington Street Chandler, AZ 3
    • 4 beds 2 baths ∙ 1,784 Sqft ∙ Built 1947 4 beds 2 baths ∙ 1,784 Sqft ∙ Built 1947
    property image
    LEASED 05/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.78
    •  
  • 891 N Dakota Street Chandler, AZ 4
    • 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 1958
    property image
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.87
    •  
  • 428 W Dublin Street Chandler, AZ 5
    • 3 beds 2 baths ∙ 1,705 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,705 Sqft ∙ Built 1962
    property image
    LEASED 09/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.00
    •  
PROPERTY LISTING DETAILS
Allen Gordon
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6156370
Last Updated: 11/06/2020
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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