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683 E Shannon Street Chandler, AZ 85225

3 Beds 2 Baths 1,861 sqft Built 1997

$359,900

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $193.39
  • 2 Days on Market
  • MLS # : 6181740
  • Updated Date : 01/17/2021 at 04:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,861 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

Beautiful, Move-in Ready 3 Bedroom 2 Bathroom just minutes from Downtown Chandler! Fantastic Floor Plan. Brand new carpet. Vaulted Ceilings. Backyard is a an oasis with gorgeous orange and lemon trees, large patio covered by a ramada. Home is conveniently located close to shopping and essentials. This is a MUST SEE.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Ray Manor

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k320k

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

Neighborhood: Ray Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9021780

* 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
Galveston Elementary School Primary Regular 699 47 3
Willis Junior High School Middle Regular 947 51 6
Chandler High School High Regular 3,176 153 5

Galveston Elementary School

  • Education Level: Primary
  • # of students: 699
  • # of teachers: 47
3
GreatSchools Rating

Willis Junior High School

  • Education Level: Middle
  • # of students: 947
  • # of teachers: 51
6
GreatSchools Rating

Chandler High School

  • Education Level: High
  • # of students: 3,176
  • # of teachers: 153
5
GreatSchools Rating
 

$323,910$395,890$359,900

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,250
Property Tax -$210
Property Insurance -$63
HOA -$44
Property Management Fees -$99
CASH FLOW
$134

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.

$359,900

PROJECTED PRICE

$1,800

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 8.2%
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$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$101,124

INVESTMENT

$101,124

Down Payment
$89,975
Rehab Estimate
$5,750
Closing Costs
$5,399

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,250

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $89,975
Loan Amount $269,925
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$34,104

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,908

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,794
1$1,7942$1,8003$1,8004$1,8005$1,900
$1,900
RENT COMPS ANALYSIS
  • 683 E Shannon Street Chandler, AZ 4
    • 3 beds 2 baths ∙ 1,861 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,861 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.97
    •  
  • 836 E Harrison Street Chandler, AZ 1
    • 3 beds 2 baths ∙ 1,701 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,701 Sqft ∙ Built 2011
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,794
    • $1.05
    •  
  • 898 E Del Rio Street Chandler, AZ 2
    • 3 beds 2 baths ∙ 1,701 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,701 Sqft ∙ Built 2010
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.06
    •  
  • 627 E Shannon Street Chandler, AZ 3
    • 3 beds 2 baths ∙ 1,861 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,861 Sqft ∙ Built 1995
    LEASED 07/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.97
    •  
  • 723 E Shannon Street Chandler, AZ 5
    • 3 beds 2 baths ∙ 1,861 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,861 Sqft ∙ Built 1996
    LEASED 01/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.02
    •  
PROPERTY LISTING DETAILS
Soral Karim
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6181740
Last Updated: 01/17/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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