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$525,000

For Sale - Active
1638 N Longmore St, Chandler, AZ 85224
3 Beds
2 Baths
1,525 Square Feet
0.18 Acres Lot
Built in 1985
For Sale - Active
Units n/a
Checked: 5 hours ago
Updated: Aug 31, 2025 at 10:13AM

Investment Summary


Monthly Cash Flow
-$1,018
Cap Rate
3.4%
Cash-on-Cash Return
-10.1%
Debt Coverage Ratio
0.59
Internal Rate of Return (5 years)
-5.8%

Property Description


0.18 Acres Lot
Built in 1985
For Sale - Active
Units n/a

Beautifully updated 3bed/2 bath home located near the heart of Chandler with NO HOA! Gorgeous new wood laminate flooring throughout! The Eat-in kitchen offers a welcoming space for casual dining, highlighted by beautiful new Quartz Countertops. Enjoy peace of mind with a newer roof (2022), AC (2025) and Hot water heater (2025). Relax in the AZ room or retreat to your private backyard under a new covered patio, surrounded by mature landscaping, a huge grassy area and sparkling pool with removable fence. This home has it all and is move-in ready!

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Location


Property Details


Parking

  • Description: Dir Entry frm Garage, Electric Door Opener
  • Details: Garage Door Opener, Direct Access
  • Garage Spaces: 2
  • Spaces Total: 2

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Total): 2.0

Interior Features

  • # of Rooms: 5
  • # of Stories: 1
  • Fireplace: Yes

Exterior Features

  • Exterior Walls Materials: Wood
  • Roof Material: Composition
  • Pool: Yes

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 30281665
  • Lot Size: 7806 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Ranch
  • Year Built: 1985

Tax Information

  • Annual Tax: $1,446

Utilities

  • Water & Sewer: Public
  • Heating: Electric
  • Cooling: Central Air, Ceiling Fan(s)

Location

  • County: Maricopa

Listing Details


Listed by:
Tricia Bonlender
West USA Realty
(480) 231-9268

Source:
Arizona Regional Multiple Listing Service (ARMLS)
MLS#: 6908324
Arizona Regional Multiple Listing Service (ARMLS)

Investment Summary


Monthly Cash Flow
-$1,018
Cap Rate
3.4%
Cash-on-Cash Return
-10.1%
Debt Coverage Ratio
0.59
Internal Rate of Return (5 years)
-5.8%

Purchase Details

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Purchase price:
$525,000
Amount financed:
-$420,000
Down payment:
$105,000
Closing costs:
$15,750
Rehab costs:
$0
Initial cash invested:
$120,750
Square feet:
1,525
Cost per square foot:
$344
Monthly rent per square foot:
$1.51

Financing Details

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Loan amount:
$420,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$2,484
Property tax:
$121
Insurance:
$161
Private mortgage insurance (PMI):
$0
Monthly payment:
$2,766

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,300 $27,600
Vacancy loss: (6%)
6% -$138 -$1,656
Operating income:
$2,162 $25,944

Operating Expenses


% Rent Monthly Yearly
Property taxes: (5%)
5%-$121-$1,446
Insurance: (7%)
7%-$161-$1,932
Property management: (8%)
8%-$184-$2,208
Repairs & maintenance: (5%)
5%-$115-$1,380
Capital expenditures: (5%)
5%-$115-$1,380
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (30%)
30%-$696-$8,346

Cash Flow


Monthly Yearly
Net operating income:
$1,466 $17,592
Mortgage payments:
-$2,484 -$29,808
Cash flow:
$1,018 $12,216