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3824 S Wayne Drive Chandler, AZ 85286

3 Beds 2 Baths 2,147 sqft Built 2004

$447,900

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2004
  • Price/Sqft : $208.62
  • 9 Days on Market
  • MLS # : 6149248
  • Updated Date : 10/29/2020 at 10:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,147 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

BEAUTIFUL CHANDLER HOME; 3 BEDROOMS, 2 1/2 BATH, WITH DESIGNATED OFFICE SPACE. OPEN CONCEPT KITCHEN/FAMILY ROOM; ALL KICHEN APPLIANCES INCLUDED AS WELL AS WASHER/DRYERSPACIOUS FORMAL LIVING / DINING ROOM WITH GORGEOUS WOOD FLOORING. THIS ROOM COULD BE A MULTI PURPOSE ROOM AND USED AS WHATEVER YOUR HEARTS DESIRE. BACKYARD OASIS WITH POOL AND STAND ALONE HOT TUB, TRULY AN ENTERTAINERS DELIGHTOPEN HOUSE OCT 29,30 FROM 4:00-6:00 AND OCT 31 10:00-1:00

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PRICE & RENT TRENDS

Neighborhood: Redwood Estates Markwood South

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $122k424k

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

Neighborhood: Redwood Estates Markwood South

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10452034

* 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
Haley Elementary School Primary Regular 850 49 9
Haley Elementary School Middle Regular 850 49 9
Perry High School High Regular 3,194 142 7

Haley Elementary School

  • Education Level: Primary
  • # of students: 850
  • # of teachers: 49
9
GreatSchools Rating

Haley Elementary School

  • Education Level: Middle
  • # of students: 850
  • # of teachers: 49
9
GreatSchools Rating

Perry High School

  • Education Level: High
  • # of students: 3,194
  • # of teachers: 142
7
GreatSchools Rating
 

$403,110$492,690$447,900

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$1,653
Property Tax -$319
Property Insurance -$69
HOA -$70
Property Management Fees -$99
CASH FLOW
-$269

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.

$447,900

PROJECTED PRICE

$1,940

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.1%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$124,444

INVESTMENT

$124,444

Down Payment
$111,975
Rehab Estimate
$5,750
Closing Costs
$6,719

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,653

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $111,975
Loan Amount $335,925
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$9,224

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,981

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,940
1$1,9402$1,9503$2,0004$2,0605$2,200
$2,200
RENT COMPS ANALYSIS
  • 3824 S Wayne Drive Chandler, AZ 1
    • 3 beds 3 baths ∙ 2,147 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,147 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.90
    •  
  • 2307 E Redwood Court Chandler, AZ 2
    • 4 beds 2 baths ∙ 2,188 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,188 Sqft ∙ Built 2005
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.89
    •  
  • 2270 E Aloe Place Chandler, AZ 3
    • 4 beds 2 baths ∙ 2,188 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,188 Sqft ∙ Built 2005
    property image
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.91
    •  
  • 2127 E Aloe Place Chandler, AZ 4
    • 4 beds 2 baths ∙ 2,188 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,188 Sqft ∙ Built 2004
    property image
    LEASED 06/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,060
    • $0.94
    •  
  • 3053 E Sunrise Place Chandler, AZ 5
    • 4 beds 3 baths ∙ 2,323 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,323 Sqft ∙ Built 2017
    property image
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.95
    •  
PROPERTY LISTING DETAILS
Donna A Marble
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6149248
Last Updated: 10/29/2020
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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