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3331 W South Butte Road Queen Creek, AZ 85142

3 Beds 3 Baths 2,364 sqft Built 2005

$465,000

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $196.70
  • 4 Days on Market
  • MLS # : 6189660
  • Updated Date : 02/05/2021 at 18:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,364 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Integrity First

Listing Agent's Description

Welcome to your humble abode situated inside the highly desired San Tan Heights community. This 2 story, 3 bedroom (plus a loft), 2.5 bathroom home is 2,364 sqft of impressive living space. Upon stepping into the home you will notice the massive well-thought out floorplan, plantation shutters, soaring ceilings, and a neutral paint color. The kitchen is equipped with ample cabinet space, a breakfast bar, upgraded refrigerator, recessed lighting, and it overlooks the formal dining space. The master suite is the ideal size and the bathroom has dual sinks and a separate tub and shower. The best part of this master suite is that it features its own entrance onto the balcony that overlooks the backyard of your dreams. (CLICK TO READ MORE)

SEE MORE

PRICE & RENT TRENDS

Zip Code: 85142

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Zip Code: 85142

ZipNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9801981

* 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
San Tan Heights Elementary School Primary Regular 583 33 2
Mountain Vista Middle School Middle Regular 331 16 1
San Tan Foothills High School High Regular 521 27 2

San Tan Heights Elementary School

  • Education Level: Primary
  • # of students: 583
  • # of teachers: 33
2
GreatSchools Rating

Mountain Vista Middle School

  • Education Level: Middle
  • # of students: 331
  • # of teachers: 16
1
GreatSchools Rating

San Tan Foothills High School

  • Education Level: High
  • # of students: 521
  • # of teachers: 27
2
GreatSchools Rating
 

$418,500$511,500$465,000

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$1,615
Property Tax -$232
Property Insurance -$73
HOA -$25
Property Management Fees -$99
CASH FLOW
-$554

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.

$465,000

PROJECTED PRICE

$1,490

PROJECTED RENT

0.32%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.7%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$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$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$128,975

INVESTMENT

$128,975

Down Payment
$116,250
Rehab Estimate
$5,750
Closing Costs
$6,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,615

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $116,250
Loan Amount $348,750
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$435

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $0.63

    LIST RENT PER SQFT
  • $1,655

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,490
1$1,4902$1,5653$1,5754$1,5855$1,660
$1,660
RENT COMPS ANALYSIS
  • 3331 W South Butte Road Queen Creek, AZ 1
    • 3 beds 3 baths ∙ 2,364 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,364 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.63
    •  
  • 33198 N Roadrunner Lane Queen Creek, AZ 2
    • 4 beds 2 baths ∙ 2,311 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,311 Sqft ∙ Built 2004
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,565
    • $0.68
    •  
  • 2892 W Goldmine Mountain Drive Queen Creek, AZ 3
    • 4 beds 2 baths ∙ 2,188 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,188 Sqft ∙ Built 2004
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.72
    •  
  • 33460 N Madison Way Drive Queen Creek, AZ 4
    • 4 beds 3 baths ∙ 2,192 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,192 Sqft ∙ Built 2005
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,585
    • $0.72
    •  
  • 3300 W Carlos Lane Queen Creek, AZ 5
    • 4 beds 3 baths ∙ 2,439 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,439 Sqft ∙ Built 2004
    LEASED 05/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.68
    •  
PROPERTY LISTING DETAILS
Michelle Rae Colbert
Keller Williams Integrity First
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6189660
Last Updated: 02/05/2021
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. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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