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537 N Fountain Circle Chandler, AZ 85226

2 Beds 2 Baths 1,537 sqft Built 1984

INVESTimate

$375,000

List Price

$1,530

$1,377 - $1,683

Rent Est.

$396,375  ( +5.70%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1984
  • Price/Sqft : $243.98
  • 7 Days on Market
  • MLS # : 6119994
  • Updated Date : 08/20/2020 at 16:48
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,537 sqft
  • Baths : 2 full
Listing Agent

Revinre

Listing Agent's Description

Convenient to all major highways I-10, 202 & 101, This larger 2 br, 2 bath patio home is waiting for new owners. Features a master bath spa shower with 4 wall jets and rain head, regular and hand shower heads. Well maintained and fully tiled throughout for easy cleaning. HOA provides front yard maintenance, pool, jacuzzi. Beautiful Gila Springs neighborhood with trails, parks and lakes. Has an oversized 2 car garage larger than most to provide extra storage.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Fountain Court

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k320k

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

Neighborhood: Fountain Court

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9501780

* 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
Kyrene De La Mirada School Primary Regular 556 36 9
Kyrene Del Pueblo Middle School Middle Regular 829 50 8
Corona Del Sol High School High Regular 2,781 114 7

Kyrene De La Mirada School

  • Education Level: Primary
  • # of students: 556
  • # of teachers: 36
9
GreatSchools Rating

Kyrene Del Pueblo Middle School

  • Education Level: Middle
  • # of students: 829
  • # of teachers: 50
8
GreatSchools Rating

Corona Del Sol High School

  • Education Level: High
  • # of students: 2,781
  • # of teachers: 114
7
GreatSchools Rating
 

$337,500$412,500$375,000

PURCHASE PRICE

$1,377$1,683$1,530

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-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$1,384
Property Tax -$233
Property Insurance -$57
HOA -$112
Property Management Fees -$99
CASH FLOW
-$355

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$375,000

PROJECTED PRICE

$1,530

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 5.70%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,384

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$2,837

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,679

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,3953$1,5304$1,5425$1,650
$1,650
RENT COMPS ANALYSIS
  • 537 N Fountain Circle Chandler, 3
    • 2 beds 2 baths ∙ 1,537 Sqft ∙ Built 1984 2 beds 2 baths ∙ 1,537 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $1.00
    •  
  • 5665 W Galveston Street #80 Chandler, 1
    • 2 beds 3 baths ∙ 1,221 Sqft ∙ Built 1995 2 beds 3 baths ∙ 1,221 Sqft ∙ Built 1995
    LEASED 09/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.14
    •  
  • 500 N Roosevelt Avenue #66 Chandler, 2
    • 2 beds 3 baths ∙ 1,272 Sqft ∙ Built 1987 2 beds 3 baths ∙ 1,272 Sqft ∙ Built 1987
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.10
    •  
  • 73 S Sunflower Court Chandler, 4
    • 2 beds 2 baths ∙ 1,407 Sqft ∙ Built 1988 2 beds 2 baths ∙ 1,407 Sqft ∙ Built 1988
    LEASED 12/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,542
    • $1.10
    •  
  • 5153 W Megan Street Chandler, 5
    • 2 beds 2 baths ∙ 1,600 Sqft ∙ Built 1993 2 beds 2 baths ∙ 1,600 Sqft ∙ Built 1993
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.03
    •  
PROPERTY LISTING DETAILS
Michael J Ellis
Revinre
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6119994
Last Updated: 08/20/2020
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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