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741 N Madrid Lane Chandler, AZ 85226

4 Beds 3 Baths 2,524 sqft Built 1992

$534,900

List Price

$2,240

$2K - $2.5K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $211.93
  • 3 Days on Market
  • MLS # : 6172856
  • Updated Date : 12/18/2020 at 16:24
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,524 sqft
  • Baths : 2 full , 1 half
Listing Agent

Meka Realty

Listing Agent's Description

Fantastic 4 bed, 2.5 bath Chandler home in a prime location. Beautiful inside and out, this gem features great curb appeal leading into a spacious fluid floor plan with dramatic soaring ceilings and high windows for an abundance of natural light throughout. Kitchen will delight any chef with stainless steel appliances, granite counter tops, gorgeous cabinetry and an island with breakfast bar seating. Perfect for gathering with friends and family. Master retreat includes first floor private en-suite with dual sinks. Amazing backyard entertaining space is complete with a covered patio and sparkling pool. Its the perfect spot to enjoy Arizona outdoors. Don't miss out! Schedule your private showing today.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Sunrise

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $122k390k

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

Neighborhood: Sunrise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10451981

* 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 Traditional Academy - Sure����o Campus Primary Regular 504 25 8
Kyrene Aprende Middle School Middle Regular 1,040 56 9
Corona Del Sol High School High Regular 2,781 114 7

Kyrene Traditional Academy - Sure����o Campus

  • Education Level: Primary
  • # of students: 504
  • # of teachers: 25
8
GreatSchools Rating

Kyrene Aprende Middle School

  • Education Level: Middle
  • # of students: 1,040
  • # of teachers: 56
9
GreatSchools Rating

Corona Del Sol High School

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

$481,410$588,390$534,900

PURCHASE PRICE

$2,016$2,464$2,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,240
EXPENSES Loan Payment -$1,974
Property Tax -$332
Property Insurance -$76
Property Management Fees -$99
CASH FLOW
-$241

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.

$534,900

PROJECTED PRICE

$2,240

PROJECTED RENT

0.42%

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$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$147,499

INVESTMENT

$147,499

Down Payment
$133,725
Rehab Estimate
$5,750
Closing Costs
$8,024

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,974

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $133,725
Loan Amount $401,175
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$17,410

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,240

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,278

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$2,095
1$2,0952$2,1003$2,1004$2,2405$2,400
$2,400
RENT COMPS ANALYSIS
  • 741 N Madrid Lane Chandler, AZ 4
    • 4 beds 3 baths ∙ 2,524 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,524 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $2,240
    • $0.89
    •  
  • 932 N Hazelton Court Chandler, AZ 1
    • 3 beds 3 baths ∙ 2,481 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,481 Sqft ∙ Built 1992
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.84
    •  
  • 3199 W Stephens Place Chandler, AZ 2
    • 4 beds 2 baths ∙ 2,421 Sqft ∙ Built 1996 4 beds 2 baths ∙ 2,421 Sqft ∙ Built 1996
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.87
    •  
  • 3912 W Rene Drive Chandler, AZ 3
    • 5 beds 3 baths ∙ 2,329 Sqft ∙ Built 1991 5 beds 3 baths ∙ 2,329 Sqft ∙ Built 1991
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.90
    •  
  • 832 N Sicily Drive Chandler, AZ 5
    • 4 beds 3 baths ∙ 2,393 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,393 Sqft ∙ Built 1994
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.00
    •  
PROPERTY LISTING DETAILS
Michael E Scheidt
Meka Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6172856
Last Updated: 12/18/2020
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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