Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

705 W Queen Creek Road #2218 Chandler, AZ 85248

3 Beds 2 Baths 1,509 sqft Built 2005

$274,900

List Price

$1,820

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $182.17
  • 3 Days on Market
  • MLS # : 6167925
  • Updated Date : 12/04/2020 at 16:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,509 sqft
  • Baths : 2 full
Listing Agent

Re/max Excalibur

Listing Agent's Description

This beautiful end unit is located in the gated Bridges of Ocotillo and offers 3 bedrooms, 2 bathrooms, and 1,509 square feet! The unit has a private balcony over seeing the gorgeous water views. There is a 2 unit garage with cabinets, vinyl wood like floors, a remodeled kitchen with quartz countertops, both bathrooms are remodeled with quartz counter tops and upgraded lighting. It is a MB Split floor plan with a walk-in closet and North/South exposures! This home also features 9ft ceilings and a 2nd walk-in closet! The community offers a pool/spa overlooking the water!! 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
 

$247,410$302,390$274,900

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$1,014
Property Tax -$160
Property Insurance -$57
HOA -$342
Property Management Fees -$99
CASH FLOW
$148

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.

$274,900

PROJECTED PRICE

$1,820

PROJECTED RENT

0.66%

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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$78,599

INVESTMENT

$78,599

Down Payment
$68,725
Rehab Estimate
$5,750
Closing Costs
$4,124

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,014

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,725
Loan Amount $206,175
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$28,662

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,820

    LIST RENT
  • $1.21

    LIST RENT PER SQFT
  • $1,667

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,6953$1,7004$1,8005$1,820
$1,820
RENT COMPS ANALYSIS
  • 705 W Queen Creek Road #2218 Chandler, AZ 5
    • 3 beds 2 baths ∙ 1,509 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,509 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $1.21
    •  
  • 1141 W Canary Way Chandler, AZ 1
    • 3 beds 2 baths ∙ 1,539 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,539 Sqft ∙ Built 1995
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.10
    •  
  • 1101 W Goldfinch Way Chandler, AZ 2
    • 3 beds 2 baths ∙ 1,539 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,539 Sqft ∙ Built 1995
    LEASED 08/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.10
    •  
  • 705 W Queen Creek Road #1135 Chandler, AZ 3
    • 3 beds 3 baths ∙ 1,708 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,708 Sqft ∙ Built 2005
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.00
    •  
  • 157 E Bluejay Drive Chandler, AZ 4
    • 3 beds 2 baths ∙ 1,477 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,477 Sqft ∙ Built 2017
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.22
    •  
PROPERTY LISTING DETAILS
Jason L Penrose
Re/max Excalibur
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6167925
Last Updated: 12/04/2020
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.

BESbswy