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5617 W Monterey Street Chandler, AZ 85226

3 Beds 2 Baths 1,381 sqft Built 1986

$340,000

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1986
  • Price/Sqft : $246.20
  • 5 Days on Market
  • MLS # : 6142027
  • Updated Date : 10/29/2020 at 19:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,381 sqft
  • Baths : 2 full
Listing Agent

West Usa Realty

Listing Agent's Description

This 3 bedroom, 2 bath home is beautiful! Tall, vaulted ceilings makes the home feel open and airy. Tons of natural light throughout. Formal Living room/dining room with cozy fireplace. Large great room/Kitchen area. Laminate & tile in all the right places. Stainless steel appliances. Updates include: New Dishwasher; New interior paint on walls, cabinets, ceilings, doors, trim; New bath fixtures; New Carpet; New Ceiling Fans & new window treatments throughout; New backyard landscaping; New Exterior paint. HVAC system replaced in 2016. Washer, Dryer & Refrigerator included! Located on a Corner lot on a quiet, interior street. Within walking distance to Gila Springs Park! Located near shopping, dining, freeways & more!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Pineridge

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Pineridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10081981

* 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
 

$306,000$374,000$340,000

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$1,254
Property Tax -$211
Property Insurance -$54
HOA -$12
Property Management Fees -$99
CASH FLOW
-$101

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.

$340,000

PROJECTED PRICE

$1,530

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.7%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$14,952

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
  • $1.11

    LIST RENT PER SQFT
  • $1,633

    COMP ESTIMATED VALUE
  • $1.18

    COMP AVG. RENT PER SQFT
Comps Range
$1,530
1$1,5302$1,6503$1,6504$1,7505$1,795
$1,795
RENT COMPS ANALYSIS
  • 5617 W Monterey Street Chandler, AZ 1
    • 3 beds 2 baths ∙ 1,381 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,381 Sqft ∙ Built 1986
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $1.11
    •  
  • 5454 W Venus Way Chandler, AZ 2
    • 3 beds 2 baths ∙ 1,488 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,488 Sqft ∙ Built 1997
    property image
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.11
    •  
  • 5665 W Galveston Street #64 Chandler, AZ 3
    • 3 beds 3 baths ∙ 1,411 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,411 Sqft ∙ Built 1996
    property image
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.17
    •  
  • 5766 W Commonwealth Place Chandler, AZ 4
    • 3 beds 2 baths ∙ 1,407 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,407 Sqft ∙ Built 1988
    property image
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.24
    •  
  • 609 N Sunflower Circle Chandler, AZ 5
    • 3 beds 2 baths ∙ 1,481 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,481 Sqft ∙ Built 1986
    property image
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.21
    •  
PROPERTY LISTING DETAILS
Pamela M. Brewer
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6142027
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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