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701 N Central Drive Chandler, AZ 85224

5 Beds 3 Baths 2,018 sqft Built 1973

$399,000

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

December 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $197.72
  • 7 Days on Market
  • MLS # : 6165030
  • Updated Date : 12/17/2020 at 17:13
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,018 sqft
  • Baths : 3 full
Listing Agent

Homesmart Lifestyles

Listing Agent's Description

Beautiful home in a highly desired Chandler neighborhood. NO HOA!! White picket fence charmer with ivy and covered front porch patio to enjoy our AZ sunsets on. Renovated kitchen features farm style sink, decorative trim, chandelier lighting, and solid wood butcher block countertops. Kitchen has ceiling to floor stainless steel built in solid refrigerator. Private pool with water feature is accented by outdoor built in BBQ with searing station. Garage has been converted into a 520 sq ft casita/studio apartment, complete with 3/4 bathroom, kitchenette with full size refrigerator/freezer, and separate side entrance from main house. Tenants in place in casita through 10/31/2021. Great income producing opportunity! DO NOT miss this home, you are sure to fall in love! Home is sold AS-IS.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Karen Manor

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k320k

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

Neighborhood: Karen Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8781780

* 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
Hartford Sylvia Encinas Elementary School Primary Regular 756 40 3
Andersen Junior High School Middle Regular 924 47 6
Chandler High School High Regular 3,176 153 5

Hartford Sylvia Encinas Elementary School

  • Education Level: Primary
  • # of students: 756
  • # of teachers: 40
3
GreatSchools Rating

Andersen Junior High School

  • Education Level: Middle
  • # of students: 924
  • # of teachers: 47
6
GreatSchools Rating

Chandler High School

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

$359,100$438,900$399,000

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$1,472
Property Tax -$232
Property Insurance -$67
Property Management Fees -$99
CASH FLOW
-$10

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.

$399,000

PROJECTED PRICE

$1,860

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 7.3%
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$111,485

INVESTMENT

$111,485

Down Payment
$99,750
Rehab Estimate
$5,750
Closing Costs
$5,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,472

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,750
Loan Amount $299,250
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$29,127

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $2,018

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8603$2,0004$2,0505$2,200
$2,200
RENT COMPS ANALYSIS
  • 701 N Central Drive Chandler, AZ 2
    • 5 beds 3 baths ∙ 2,018 Sqft ∙ Built 1973 5 beds 3 baths ∙ 2,018 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.92
    •  
  • 966 N Dakota Street Chandler, AZ 1
    • 4 beds 2 baths ∙ 1,754 Sqft ∙ Built 1958 4 beds 2 baths ∙ 1,754 Sqft ∙ Built 1958
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.02
    •  
  • 1180 W Gary Court Chandler, AZ 3
    • 4 beds 3 baths ∙ 1,936 Sqft ∙ Built 1993 4 beds 3 baths ∙ 1,936 Sqft ∙ Built 1993
    LEASED 12/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.03
    •  
  • 1601 W Corona Drive Chandler, AZ 4
    • 4 beds 2 baths ∙ 2,186 Sqft ∙ Built 1991 4 beds 2 baths ∙ 2,186 Sqft ∙ Built 1991
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.94
    •  
  • 1591 W Ironwood Drive Chandler, AZ 5
    • 4 beds 2 baths ∙ 2,186 Sqft ∙ Built 1992 4 beds 2 baths ∙ 2,186 Sqft ∙ Built 1992
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.01
    •  
PROPERTY LISTING DETAILS
Jamie L Knight
Homesmart Lifestyles
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6165030
Last Updated: 12/17/2020
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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