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34929 N Open Range Drive Queen Creek, AZ 85142

3 Beds 2 Baths 1,605 sqft Built 2014

$325,000

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $202.49
  • 6 Days on Market
  • MLS # : 6210591
  • Updated Date : 03/26/2021 at 19:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,605 sqft
  • Baths : 2 full
Listing Agent

Southwest Mountain Realty, Llc

Listing Agent's Description

Move in ready 2014 built home with many updates! Great room floor plan. Split bedrooms. Kitchen has thick granite counter tops, beautiful staggered cabinets, lots of counter space, gleaming stainless steel appliances (refrigerator is included), large dining area. Tile throughout home except the bedrooms. Master suite with attached bath has walk-in closet, dual sinks, separate tub and shower. Other 2 bedrooms share a bathroom. Nice big laundry room. Fabulous Plantation Shutters. Gorgeous landscaped yard with turf, palms, pavers, covered patio and no rear neighbor. Close to lots of shopping and dining.

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
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$1,129
Property Tax -$162
Property Insurance -$58
HOA -$62
Property Management Fees -$99
CASH FLOW
$40

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.

$325,000

PROJECTED PRICE

$1,550

PROJECTED RENT

0.48%

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

5.83

YEARS SAVED

$21,568

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,553

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,525
1$1,5252$1,5503$1,5954$1,5955$1,860
$1,860
RENT COMPS ANALYSIS
  • 34929 N Open Range Drive Queen Creek, AZ 2
    • 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.97
    •  
  • 35571 N Donovan Drive Queen Creek, AZ 1
    • 3 beds 2 baths ∙ 1,733 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,733 Sqft ∙ Built 2016
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.88
    •  
  • 1737 W Stephanie Lane Queen Creek, AZ 3
    • 4 beds 2 baths ∙ 1,600 Sqft ∙ Built 2009 4 beds 2 baths ∙ 1,600 Sqft ∙ Built 2009
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.00
    •  
  • 2117 W Garland Drive Queen Creek, AZ 4
    • 3 beds 2 baths ∙ 1,733 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,733 Sqft ∙ Built 2018
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.92
    •  
  • 2117 W Bennett Way Queen Creek, AZ 5
    • 3 beds 2 baths ∙ 1,733 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,733 Sqft ∙ Built 2017
    LEASED 02/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $1.07
    •  
PROPERTY LISTING DETAILS
Robin M. Drew
Southwest Mountain Realty, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6210591
Last Updated: 03/26/2021
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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