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303 W Palomino Drive Chandler, AZ 85225

3 Beds 2 Baths 1,288 sqft Built 1981

$334,900

List Price

$1,220

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1981
  • Price/Sqft : $260.02
  • 3 Days on Market
  • MLS # : 6156998
  • Updated Date : 11/07/2020 at 11:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,288 sqft
  • Baths : 2 full
Listing Agent

West Usa Realty

Listing Agent's Description

Completely remodeled home in the heart of Chandler. New wood laminate flooring throughout. The master bathroom has an amazing new floor-to-ceiling walk-in shower. Kitchen features stainless steel appliances, quartz countertops, oversized kitchen sink. Every light fixture and ceiling fan has been updated and modernized. Newly painted inside and out. Windows have been replaced with dual pane energy smart. Plus a 2 car garage. Your kids can walk to school, it's so close. Close to Loop 101 & US-60. This one won't last.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Amberwood South

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $99k320k

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

Neighborhood: Amberwood South

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8461780

* 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
Franklin At Alma Elementary School Primary Regular 280 13 10
Franklin At Alma Elementary School Middle Regular 280 13 10
Dobson High School High Regular 2,639 122 4

Franklin At Alma Elementary School

  • Education Level: Primary
  • # of students: 280
  • # of teachers: 13
10
GreatSchools Rating

Franklin At Alma Elementary School

  • Education Level: Middle
  • # of students: 280
  • # of teachers: 13
10
GreatSchools Rating

Dobson High School

  • Education Level: High
  • # of students: 2,639
  • # of teachers: 122
4
GreatSchools Rating
 

$301,410$368,390$334,900

PURCHASE PRICE

$1,098$1,342$1,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,220
EXPENSES Loan Payment -$1,236
Property Tax -$189
Property Insurance -$52
Property Management Fees -$99
CASH FLOW
-$356

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$334,900

PROJECTED PRICE

$1,220

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 8.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,499

INVESTMENT

$94,499

Down Payment
$83,725
Rehab Estimate
$5,750
Closing Costs
$5,024

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,236

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $83,725
Loan Amount $251,175
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$1,987

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,220

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,336

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,220
1$1,2202$1,3503$1,4004$1,4755$1,525
$1,525
RENT COMPS ANALYSIS
  • 303 W Palomino Drive Chandler, AZ 1
    • 3 beds 2 baths ∙ 1,288 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,288 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $1,220
    • $0.95
    •  
  • 1961 N Hartford Street #1179 Chandler, AZ 2
    • 3 beds 3 baths ∙ 1,348 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,348 Sqft ∙ Built 1998
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.00
    •  
  • 1961 N Hartford Street #1115 Chandler, AZ 3
    • 3 beds 2 baths ∙ 1,364 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,364 Sqft ∙ Built 1997
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.03
    •  
  • 1961 N Hartford Street #1196 Chandler, AZ 4
    • 3 beds 3 baths ∙ 1,364 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,364 Sqft ∙ Built 1998
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $1.08
    •  
  • 2603 N Pleasant Drive Chandler, AZ 5
    • 3 beds 2 baths ∙ 1,463 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,463 Sqft ∙ Built 1980
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $1.04
    •  
PROPERTY LISTING DETAILS
Joon Bang
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6156998
Last Updated: 11/07/2020
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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