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61 N Rush Street Chandler, AZ 85226

3 Beds 2 Baths 1,627 sqft Built 1995

$389,900

List Price

$1,840

$1.7K - $2K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $239.64
  • 2 Days on Market
  • MLS # : 6165587
  • Updated Date : 11/28/2020 at 12:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,627 sqft
  • Baths : 2 full
Listing Agent

West Usa Realty

Listing Agent's Description

Beautifully updated single level home in highly sought - after Twelve Oaks! Open kitchen family room concept. The 2015 remodeled kitchen boasts granite slab counter tops, refinished cabinets with brushed nickel hardware, upgraded black appliances, pantry and eat-in kitchen dining area. 2019 garbage disposal. 2015 kitchen appliance package. New HVAC return added in kitchen. All appliances convey including the refrigerators in the kitchen and garage and the 2018 front load washer and dryer! Soaring vaulted ceilings! Formal combination living and dining rooms; tons of living space! Newer trendy gray tone porcelain tile throughout with carpet (2020) only in the bedrooms. Newer bushed nickel hardware on all interior doors. Newer lights and ceiling fans throughout.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: North Commonwealth

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k320k

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

Neighborhood: North Commonwealth

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9881780

* 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 Paloma School Primary Regular 502 30 8
Kyrene Del Pueblo Middle School Middle Regular 829 50 8
Corona Del Sol High School High Regular 2,781 114 7

Kyrene De La Paloma School

  • Education Level: Primary
  • # of students: 502
  • # of teachers: 30
8
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
 

$350,910$428,890$389,900

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,840
EXPENSES Loan Payment -$1,439
Property Tax -$242
Property Insurance -$59
HOA -$15
Property Management Fees -$99
CASH FLOW
-$13

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.

$389,900

PROJECTED PRICE

$1,840

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 5.7%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
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$0.0$5.0k$10k$15k

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$109,074

INVESTMENT

$109,074

Down Payment
$97,475
Rehab Estimate
$5,750
Closing Costs
$5,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,439

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $97,475
Loan Amount $292,425
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$27,738

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,840

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $1,834

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7953$1,8004$1,8405$2,050
$2,050
RENT COMPS ANALYSIS
  • 61 N Rush Street Chandler, AZ 4
    • 3 beds 2 baths ∙ 1,627 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,627 Sqft ∙ Built 1995
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $1.13
    •  
  • 5454 W Venus Way Chandler, AZ 1
    • 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
    •  
  • 5469 W Milky Way Chandler, AZ 2
    • 3 beds 2 baths ∙ 1,676 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,676 Sqft ∙ Built 1996
    property image
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.07
    •  
  • 150 N Bradley Drive Chandler, AZ 3
    • 3 beds 2 baths ∙ 1,627 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,627 Sqft ∙ Built 1995
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.11
    •  
  • 90 S Pineview Place Chandler, AZ 5
    • 3 beds 2 baths ∙ 1,676 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,676 Sqft ∙ Built 1997
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.22
    •  
PROPERTY LISTING DETAILS
Lisa Miguel
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6165587
Last Updated: 11/28/2020
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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