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705 W Queen Creek Road #2042 Chandler, AZ 85248

2 Beds 2 Baths 1,618 sqft Built 2006

$289,500

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $178.92
  • 4 Days on Market
  • MLS # : 6159149
  • Updated Date : 11/13/2020 at 12:13
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,618 sqft
  • Baths : 2 full
Listing Agent

Stunning Homes Realty

Listing Agent's Description

This pristine 2 bed 2 bath townhouse is a corner unit and features one of the BEST views in the entire community! This home is nestled in the meticulously maintained gated Bridges at Ocotillo and has a DIRECT LAKEFRONT view! Two car garage with direct access to the entryway. This highly desirable open floor plan has split bedrooms and an extra den! Large great room that is open to dining, living and kitchen. The kitchen features cherry cabinets, recessed lighting, all appliances and pantry. Large master and secondary bedroom. Master has a separate tub and shower, with two closets! This community is very quiet with a luxurious private feel. Amenities include community spa and pool, clubhouse, fitness center. Ocotillo golf privileges including discounted green fees. Schedule a showing today

SEE MORE

PRICE & RENT TRENDS

Neighborhood: The Octotillo

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $122k459k

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

Neighborhood: The Octotillo

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000210022002300Rent in $10452356

* 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
Basha Elementary School Primary Regular 758 42 8
Basha Elementary School Middle Regular 758 42 8
Hamilton High School High Regular 3,740 190 8

Basha Elementary School

  • Education Level: Primary
  • # of students: 758
  • # of teachers: 42
8
GreatSchools Rating

Basha Elementary School

  • Education Level: Middle
  • # of students: 758
  • # of teachers: 42
8
GreatSchools Rating

Hamilton High School

  • Education Level: High
  • # of students: 3,740
  • # of teachers: 190
8
GreatSchools Rating
 

$260,550$318,450$289,500

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 -$1,068
Property Tax -$169
Property Insurance -$59
HOA -$338
Property Management Fees -$99
CASH FLOW
-$202

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.

$289,500

PROJECTED PRICE

$1,530

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.3%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,468

INVESTMENT

$82,468

Down Payment
$72,375
Rehab Estimate
$5,750
Closing Costs
$4,343

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,068

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,375
Loan Amount $217,125
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$2,919

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,525

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,3503$1,4954$1,5005$1,500
$1,500
RENT COMPS ANALYSIS
  • 705 W Queen Creek Road #2042 Chandler, AZ 1
    • 2 beds 2 baths ∙ 1,618 Sqft ∙ Built 2006 2 beds 2 baths ∙ 1,618 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 705 W Queen Creek Road #2092 Chandler, AZ 2
    • 2 beds 2 baths ∙ 1,509 Sqft ∙ Built 2006 2 beds 2 baths ∙ 1,509 Sqft ∙ Built 2006
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.89
    •  
  • 705 W Queen Creek Road #2162 Chandler, AZ 3
    • 2 beds 2 baths ∙ 1,618 Sqft ∙ Built 2003 2 beds 2 baths ∙ 1,618 Sqft ∙ Built 2003
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.92
    •  
  • 705 W Queen Creek Road #1046 Chandler, AZ 4
    • 2 beds 3 baths ∙ 1,551 Sqft ∙ Built 2006 2 beds 3 baths ∙ 1,551 Sqft ∙ Built 2006
    LEASED 12/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.97
    •  
  • 705 W Queen Creek Road #2020 Chandler, AZ 5
    • 2 beds 2 baths ∙ 1,509 Sqft ∙ Built 2006 2 beds 2 baths ∙ 1,509 Sqft ∙ Built 2006
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.99
    •  
PROPERTY LISTING DETAILS
William R Nager
Stunning Homes Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6159149
Last Updated: 11/13/2020
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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