Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

34981 N Open Range Drive Queen Creek, AZ 85142

3 Beds 2 Baths 1,899 sqft Built 2014

INVESTimate

$299,000

List Price

$1,580

$1,422 - $1,738

Rent Est.

$318,973  ( +6.68%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 2014
  • Price/Sqft : $157.45
  • 7 Days on Market
  • MLS # : 6117545
  • Updated Date : 08/25/2020 at 17:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,899 sqft
  • Baths : 2 full
Listing Agent

Realty One Group

Listing Agent's Description

Be the first to see this perfect 3+ bedroom/ 2 bathroom, split floor plan home. This one is move in ready with tons of upgrades (see upgrade list in doc section). The great room is perfect for entertaining with a large island, walk in pantry and tons of extra storage in the laundry room. The master bedroom fits an extended King size bed with plenty of extra room. The master closet has been upgraded with extra shelving. The backyard is a perfect little paradise for enjoying the fresh air with an extended paver patio and lots of trees. Hurry this one will go fast!!!

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
 

$269,100$328,900$299,000

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$1,103
Property Tax -$155
Property Insurance -$64
HOA -$62
Property Management Fees -$99
CASH FLOW
$97

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.

$299,000

PROJECTED PRICE

$1,580

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.68%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,103

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

7.17

YEARS SAVED

$30,088

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,595

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,5803$1,6004$1,6155$1,650
$1,650
RENT COMPS ANALYSIS
  • 34981 N Open Range Drive Queen Creek, 2
    • 3 beds 2 baths ∙ 1,899 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,899 Sqft ∙ Built 2014
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.83
    •  
  • 1732 W Desert Spring Way Queen Creek, 1
    • 4 beds 2 baths ∙ 1,899 Sqft ∙ Built 2013 4 beds 2 baths ∙ 1,899 Sqft ∙ Built 2013
    property image
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.83
    •  
  • 987 W Deoni Trail San Tan Valley, 3
    • 3 beds 2 baths ∙ 2,025 Sqft ∙ Built 2012 3 beds 2 baths ∙ 2,025 Sqft ∙ Built 2012
    property image
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.79
    •  
  • 1640 W Gold Mine Way Queen Creek, 4
    • 3 beds 3 baths ∙ 1,904 Sqft ∙ Built 2011 3 beds 3 baths ∙ 1,904 Sqft ∙ Built 2011
    property image
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,615
    • $0.85
    •  
  • 35233 N Thurber Road Queen Creek, 5
    • 3 beds 2 baths ∙ 1,863 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,863 Sqft ∙ Built 2012
    property image
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.89
    •  
PROPERTY LISTING DETAILS
Keith Stevens
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6117545
Last Updated: 08/25/2020
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.

BESbswy