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6703 S Mingus Drive Chandler, AZ 85249

3 Beds 2 Baths 2,185 sqft Built 2002

$535,000

List Price

$2,010

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $244.85
  • 2 Days on Market
  • MLS # : 6199733
  • Updated Date : 03/27/2021 at 18:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,185 sqft
  • Baths : 2 full
Listing Agent

Century 21 Arizona Foothills

Listing Agent's Description

Hurry to this popular Sedona model with three bedrooms plus an office and a three car garage waiting for a lucky new buyer to call home! Nestled in Solera gated 55+ community. Open living spaces with neutral colors and quality upgrades. Recently painted in and out and new carpet just installed. Desirable East facing back patio, golf course lot #6 tee box with views of the San Tan Mountains. Be sure to check out the photos and document section for more details of this home and community.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Solera Chandler

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $109k341k

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

Neighborhood: Solera Chandler

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700Rent in $10181780

* 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
Payne Junior High School Middle Regular 1,518 70 9
Basha High School High Regular 2,646 125 8

Payne Junior High School

  • Education Level: Middle
  • # of students: 1,518
  • # of teachers: 70
9
GreatSchools Rating

Basha High School

  • Education Level: High
  • # of students: 2,646
  • # of teachers: 125
8
GreatSchools Rating
 

$481,500$588,500$535,000

PURCHASE PRICE

$1,809$2,211$2,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,010
EXPENSES Loan Payment -$1,858
Property Tax -$381
Property Insurance -$70
HOA -$20
Property Management Fees -$99
CASH FLOW
-$418

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.

$535,000

PROJECTED PRICE

$2,010

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 4.6%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$147,525

INVESTMENT

$147,525

Down Payment
$133,750
Rehab Estimate
$5,750
Closing Costs
$8,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,858

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $133,750
Loan Amount $401,250
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$5,299

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,010

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $2,169

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,0103$2,1904$2,2955$2,295
$2,295
RENT COMPS ANALYSIS
  • 6703 S Mingus Drive Chandler, AZ 2
    • 3 beds 2 baths ∙ 2,185 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,185 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $2,010
    • $0.92
    •  
  • 4513 E County Down Drive Chandler, AZ 1
    • 4 beds 2 baths ∙ 2,082 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,082 Sqft ∙ Built 2004
    LEASED 03/20/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.94
    •  
  • 3121 E Doral Drive Chandler, AZ 3
    • 3 beds 2 baths ∙ 2,051 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,051 Sqft ∙ Built 2003
    LEASED 12/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $1.07
    •  
  • 4125 E Bellerive Drive Chandler, AZ 4
    • 4 beds 3 baths ∙ 2,336 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,336 Sqft ∙ Built 2007
    LEASED 03/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.98
    •  
  • 4155 E Bellerive Drive Chandler, AZ 5
    • 4 beds 3 baths ∙ 2,336 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,336 Sqft ∙ Built 2007
    LEASED 03/17/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.98
    •  
PROPERTY LISTING DETAILS
Jennifer Beveridge
Century 21 Arizona Foothills
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6199733
Last Updated: 03/27/2021
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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