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824 W Azalea Drive Chandler, AZ 85248

5 Beds 3 Baths 3,076 sqft Built 1998

$521,000

List Price

$2,750

$2.5K - $3K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 1998
  • Price/Sqft : $169.38
  • 3 Days on Market
  • MLS # : 6150617
  • Updated Date : 11/01/2020 at 09:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,076 sqft
  • Baths : 3 full
Listing Agent

North & Co

Listing Agent's Description

LOCATION, LOCATION, LOCATION and your chance to own in the highly sought after Ocotillo Lakes area! Welcome home and step inside your beautiful 5bd/3bth home. Large chef's kitchen that is complete with walk in pantry, double ovens, cabinets redone, big island that is perfect for entertaining and a work desk area. Bright and open floor plan with vaulted ceilings, lots of storage, large bedrooms and a bedroom downstairs that could be used as an office or guest suite. Master bedroom has a huge closet that will not disappoint. Backyard oasis with pool and mature landscaping. 2 miles to the 202 freeway and close to shopping, restaurants, and downtown Chandler.

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
 

$468,900$573,100$521,000

PURCHASE PRICE

$2,475$3,025$2,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,750
EXPENSES Loan Payment -$1,922
Property Tax -$303
Property Insurance -$87
HOA -$20
Property Management Fees -$99
CASH FLOW
$318

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.

$521,000

PROJECTED PRICE

$2,750

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k

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$143,815

INVESTMENT

$143,815

Down Payment
$130,250
Rehab Estimate
$5,750
Closing Costs
$7,815

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $130,250
Loan Amount $390,750
See What Happens When You Reinvest Cash Flow

8.58

YEARS SAVED

$71,528

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,750

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,938

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,7503$2,9954$3,0005$3,000
$3,000
RENT COMPS ANALYSIS
  • 824 W Azalea Drive Chandler, AZ 2
    • 5 beds 3 baths ∙ 3,076 Sqft ∙ Built 1998 5 beds 3 baths ∙ 3,076 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.89
    •  
  • 823 W Aster Drive Chandler, AZ 1
    • 5 beds 3 baths ∙ 3,076 Sqft ∙ Built 1998 5 beds 3 baths ∙ 3,076 Sqft ∙ Built 1998
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.88
    •  
  • 755 W Hemlock Way Chandler, AZ 3
    • 5 beds 3 baths ∙ 2,932 Sqft ∙ Built 1999 5 beds 3 baths ∙ 2,932 Sqft ∙ Built 1999
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $1.02
    •  
  • 643 W Honeysuckle Drive Chandler, AZ 4
    • 4 beds 3 baths ∙ 3,128 Sqft ∙ Built 1997 4 beds 3 baths ∙ 3,128 Sqft ∙ Built 1997
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.96
    •  
  • 3281 S Vine Street Chandler, AZ 5
    • 4 beds 3 baths ∙ 3,128 Sqft ∙ Built 1998 4 beds 3 baths ∙ 3,128 Sqft ∙ Built 1998
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.96
    •  
PROPERTY LISTING DETAILS
Elizabeth H. Muehlhausen
North & Co
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6150617
Last Updated: 11/01/2020
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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