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$320,000

For Sale - Active
860 N Mc Queen Rd Unit 1079, Chandler, AZ 85225
2 Beds
2 Baths
1,055 Square Feet
0.02 Acres Lot
Built in 1985
For Sale - Active
Units n/a
Checked: 21 hours ago
Updated: Sep 01, 2025 at 02:59AM

Investment Summary


Monthly Cash Flow
-$571
Cap Rate
3.5%
Cash-on-Cash Return
-9.3%
Debt Coverage Ratio
0.62
Internal Rate of Return (5 years)
-5.0%

Property Description


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

Don't miss this beautifully updated townhome in a PRIME location, overlooking a serene greenbelt and just steps from the sparkling community pool. With vaulted ceilings and abundant natural light, the home feels open and inviting. The living room, featuring a cozy wood-burning fireplace, is perfect for relaxing or entertaining. The large eat-in kitchen provides plenty of cabinet and counter space, with a lovely view of the private back patio. Downstairs also includes a convenient half bath and a stackable washer/dryer. Upstairs, the spacious bedrooms offer generous storage, while the master bath has been fully renovated with modern finishes. The back patio, enhanced with low-maintenance turf, is peaceful and private - an ideal spot for outdoor enjoyment. Residents also enjoy two assigned covered parking spots plus excellent community amenities: two pools, a spa, a basketball court, walking paths, open grassy areas, and lush landscaping throughout. Best of all, this home is just minutes from downtown Chandler, where you'll find an array of popular restaurants, cafes, and boutique shops. Whether you're looking for a quick bite, a night out, or unique local shopping, it's all right nearby. This townhome is the perfect blend of comfort, convenience, and lifestyle!

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Location


Property Details


Parking

  • Description: Assigned
  • Details: Assigned
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

  • # of Baths (Total): 2.0

Interior Features

  • # of Stories: 2
  • Fireplace: Yes

Exterior Features

  • Exterior Walls Materials: Wood
  • Roof Material: Tile
  • Pool Community: Yes

HOA

  • Has HOA: Yes
  • Association: Townhouses at New Ca
  • HOA Fee: $208/monthly
  • Additional Association: Provinces Master
  • Additional HOA Fee: $368/annually

Land Information

  • Land Use: Residential
  • Land Use Subtype: Townhouse

Lot Information

  • Parcel ID: 30269269
  • Lot Size: 1012 sqft

Property Information

  • Property Type: Townhouse
  • Year Built: 1985

Tax Information

  • Annual Tax: $716

Utilities

  • Water & Sewer: Public
  • Heating: Electric
  • Cooling: Central Air

Location

  • County: Maricopa

Listing Details


Listed by:
Chandler Lippincott
Axen Realty, LLC
(480) 490-1660

Source:
Arizona Regional Multiple Listing Service (ARMLS)
MLS#: 6909270
Arizona Regional Multiple Listing Service (ARMLS)

Investment Summary


Monthly Cash Flow
-$571
Cap Rate
3.5%
Cash-on-Cash Return
-9.3%
Debt Coverage Ratio
0.62
Internal Rate of Return (5 years)
-5.0%

Purchase Details

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Purchase price:
$320,000
Amount financed:
-$256,000
Down payment:
$64,000
Closing costs:
$9,600
Rehab costs:
$0
Initial cash invested:
$73,600
Square feet:
1,055
Cost per square foot:
$303
Monthly rent per square foot:
$1.71

Financing Details

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Loan amount:
$256,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$1,514
Property tax:
$60
Insurance:
$126
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,700

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,800 $21,600
Vacancy loss: (6%)
6% -$108 -$1,296
Operating income:
$1,692 $20,304

Operating Expenses


% Rent Monthly Yearly
Property taxes: (3%)
3%-$60-$716
Insurance: (7%)
7%-$126-$1,512
Property management: (8%)
8%-$144-$1,728
Repairs & maintenance: (5%)
5%-$90-$1,080
Capital expenditures: (5%)
5%-$90-$1,080
HOA fees: (13%)
13%-$239-$2,868
Total operating expenses: (42%)
42%-$749-$8,984

Cash Flow


Monthly Yearly
Net operating income:
$943 $11,316
Mortgage payments:
-$1,514 -$18,168
Cash flow:
$571 $6,852