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709 N May Street Chandler, AZ 85226

3 Beds 3 Baths 1,968 sqft Built 1985

$399,900

List Price

$2,120

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $203.20
  • 3 Days on Market
  • MLS # : 6178567
  • Updated Date : 01/08/2021 at 22:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,968 sqft
  • Baths : 3 full
Listing Agent

Venture Rei, Llc

Listing Agent's Description

Beautiful courtyard entry for this charming 3 bed, 3 bath home. Diagonally tiled floors in the main traffic areas. Plantation Shutters. Family room has a cozy fireplace. The kitchen has oak cabinets, tiled countertops, SS appliances. Walk-in pantry & storage. All bedrooms have laminate wood floors and a full bath. One bedroom upstairs. The master downstairs has a private entrance, full bath to include a double vanity, jetted tub, step-in shower and walk-in closet. The backyard has a brick paver patio and sparkling pool. Community pool, indoor racquetball court by pool, walking/biking paths, children's playground. Close to schools, shopping and major freeways.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: May's Pond

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: May's Pond

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10131981

* 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
Kyrene De La Mirada School Primary Regular 556 36 9
Kyrene Del Pueblo Middle School Middle Regular 829 50 8
Corona Del Sol High School High Regular 2,781 114 7

Kyrene De La Mirada School

  • Education Level: Primary
  • # of students: 556
  • # of teachers: 36
9
GreatSchools Rating

Kyrene Del Pueblo Middle School

  • Education Level: Middle
  • # of students: 829
  • # of teachers: 50
8
GreatSchools Rating

Corona Del Sol High School

  • Education Level: High
  • # of students: 2,781
  • # of teachers: 114
7
GreatSchools Rating
 

$359,910$439,890$399,900

PURCHASE PRICE

$1,908$2,332$2,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,120
EXPENSES Loan Payment -$1,389
Property Tax -$249
Property Insurance -$66
HOA -$73
Property Management Fees -$99
CASH FLOW
$245

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.

$399,900

PROJECTED PRICE

$2,120

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.7%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,724

INVESTMENT

$111,724

Down Payment
$99,975
Rehab Estimate
$5,750
Closing Costs
$5,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,975
Loan Amount $299,925
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$45,018

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,120

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $2,135

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$2,1203$2,2954$2,2955$2,395
$2,395
RENT COMPS ANALYSIS
  • 709 N May Street Chandler, AZ 2
    • 3 beds 3 baths ∙ 1,968 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,968 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $2,120
    • $1.08
    •  
  • 569 N Aspen Drive Chandler, AZ 1
    • 3 beds 3 baths ∙ 2,013 Sqft ∙ Built 1987 3 beds 3 baths ∙ 2,013 Sqft ∙ Built 1987
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.94
    •  
  • 690 N May Street Chandler, AZ 3
    • 4 beds 3 baths ∙ 2,024 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,024 Sqft ∙ Built 1991
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.13
    •  
  • 982 N Bradley Drive Chandler, AZ 4
    • 3 beds 3 baths ∙ 2,071 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,071 Sqft ∙ Built 1994
    LEASED 01/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.11
    •  
  • 5759 W Drake Court Chandler, AZ 5
    • 4 beds 3 baths ∙ 2,062 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,062 Sqft ∙ Built 1993
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.16
    •  
PROPERTY LISTING DETAILS
Jason Krupa
Venture Rei, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6178567
Last Updated: 01/08/2021
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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