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3310 E Cherrywood Place Chandler, AZ 85249

4 Beds 3 Baths 3,164 sqft Built 2006

INVESTimate

$699,999

List Price

$2,660

$2,410 - $2,910

Rent Est.

$739,269  ( +5.61%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $221.24
  • 7 Days on Market
  • MLS # : 6120101
  • Updated Date : 08/23/2020 at 12:49
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,164 sqft
  • Baths : 3 full
Listing Agent

Prosmart Realty

Listing Agent's Description

GORGEOUS TW LEWIS HOME!!! This beauty has it from the time you walk in through the dramatic circular foyer and see the open concept split floor plan layout with fresh paint and an urban white fireplace. 4 bedrooms and 3 bathrooms with shutters on the windows leading you out to the resort style backyard including fantastic private pool with water feature, pergolas, and pavered entertainment space. Granite, Travertine, and wood tile can be found through all the main living spaces. There is a 3 car garage for extra vehicles and storage. Large master bath and huge walk in closet. Large open kitchen with island and gas stove. If you want to live in a luxurious gated lake community, in an amazing home..this one is for you. It wont last long.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Chandler

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $122k403k

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

Neighborhood: Chandler

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10392090

* 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
Carlson Elementary School Primary Unknown 726 39 NA
Payne Junior High School Middle Regular 1,518 70 9
Basha High School High Regular 2,646 125 8

Carlson Elementary School

  • Education Level: Primary
  • # of students: 726
  • # of teachers: 39
NA
GreatSchools Rating

Payne Junior High School

  • Education Level: Middle
  • # of students: 1,518
  • # of teachers: 70
9
GreatSchools Rating

Basha High School

  • Education Level: High
  • # of students: 2,646
  • # of teachers: 125
8
GreatSchools Rating
 

$629,999$769,999$699,999

PURCHASE PRICE

$2,394$2,926$2,660

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,660
EXPENSES Loan Payment -$2,583
Property Tax -$498
Property Insurance -$89
HOA -$183
Property Management Fees -$99
CASH FLOW
-$792

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.

$699,999

PROJECTED PRICE

$2,660

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.61%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$191,250

INVESTMENT

$191,250

Down Payment
$175,000
Rehab Estimate
$5,750
Closing Costs
$10,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,583

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $175,000
Loan Amount $524,999
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,183

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,660

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,666

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,4003$2,6604$2,7955$3,200
$3,200
RENT COMPS ANALYSIS
  • 3310 E Cherrywood Place Chandler, 3
    • 4 beds 3 baths ∙ 3,164 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,164 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,660
    • $0.84
    •  
  • 3093 E San Carlos Place Chandler, 1
    • 4 beds 3 baths ∙ 2,964 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,964 Sqft ∙ Built 2009
    LEASED 09/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.71
    •  
  • 3297 E Blue Ridge Place Chandler, 2
    • 4 beds 4 baths ∙ 3,046 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,046 Sqft ∙ Built 2004
    LEASED 07/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.79
    •  
  • 3173 E Canyon Way Chandler, 4
    • 4 beds 4 baths ∙ 3,150 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,150 Sqft ∙ Built 2005
    LEASED 05/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $0.89
    •  
  • 3333 E Nolan Drive Chandler, 5
    • 4 beds 3 baths ∙ 3,254 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,254 Sqft ∙ Built 2006
    LEASED 03/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.98
    •  
PROPERTY LISTING DETAILS
Tina A Lee Schoenborn
Prosmart Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6120101
Last Updated: 08/23/2020
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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