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423 W Myrtle Drive Chandler, AZ 85248

5 Beds 3 Baths 3,026 sqft Built 2000

$525,000

List Price

$2,380

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $173.50
  • 6 Days on Market
  • MLS # : 6185682
  • Updated Date : 01/28/2021 at 01:34
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,026 sqft
  • Baths : 3 full
Listing Agent

Xcd Realty & Property Mgmt

Listing Agent's Description

Wow! 5-bedroom 3 Bathroom property in Chandler/ Ocotillo facing a lush green park. There is plenty of room for everyone, one full bedroom and bathroom downstairs is perfect for guests or in laws, then master bed/bath upstairs along with another 3 bedrooms and full bath. Kitchen has lots of maple cabinets, center island, Corian counters, gas range, and huge walk-in pantry.Enjoy your gatherings in this lovely grassy backyard with covered patio. Community offers play area, walking and biking paths. Excellent schools! Close to Chandler Mall, Ocotillo, Intel Campus, shopping, and freeway access.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Fox Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $122k438k

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

Neighborhood: Fox Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10452242

* 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
Bogle Junior High School Middle Regular 1,225 56 8
Hamilton High School High Regular 3,740 190 8

Bogle Junior High School

  • Education Level: Middle
  • # of students: 1,225
  • # of teachers: 56
8
GreatSchools Rating

Hamilton High School

  • Education Level: High
  • # of students: 3,740
  • # of teachers: 190
8
GreatSchools Rating
 

$472,500$577,500$525,000

PURCHASE PRICE

$2,142$2,618$2,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,380
EXPENSES Loan Payment -$1,824
Property Tax -$306
Property Insurance -$86
HOA -$55
Property Management Fees -$99
CASH FLOW
$11

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.

$525,000

PROJECTED PRICE

$2,380

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 2.4%
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$0.0$5.0k$10k$15k$20k

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$144,875

INVESTMENT

$144,875

Down Payment
$131,250
Rehab Estimate
$5,750
Closing Costs
$7,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,824

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $131,250
Loan Amount $393,750
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$30,178

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $2,549

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,4503$2,4954$2,5005$2,700
$2,700
RENT COMPS ANALYSIS
  • 423 W Myrtle Drive Chandler, AZ 1
    • 5 beds 3 baths ∙ 3,026 Sqft ∙ Built 2000 5 beds 3 baths ∙ 3,026 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 101 W Coconino Place Chandler, AZ 2
    • 4 beds 3 baths ∙ 2,956 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,956 Sqft ∙ Built 2007
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.83
    •  
  • 461 W Ebony Way Chandler, AZ 3
    • 4 beds 3 baths ∙ 3,007 Sqft ∙ Built 1999 4 beds 3 baths ∙ 3,007 Sqft ∙ Built 1999
    LEASED 11/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.83
    •  
  • 491 W Ebony Way Chandler, AZ 4
    • 4 beds 3 baths ∙ 3,026 Sqft ∙ Built 1999 4 beds 3 baths ∙ 3,026 Sqft ∙ Built 1999
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.83
    •  
  • 823 W Aster Drive Chandler, AZ 5
    • 5 beds 3 baths ∙ 3,076 Sqft ∙ Built 1998 5 beds 3 baths ∙ 3,076 Sqft ∙ Built 1998
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.88
    •  
PROPERTY LISTING DETAILS
Sital Mehul Dhruva
Xcd Realty & Property Mgmt
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6185682
Last Updated: 01/28/2021
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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