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PROPERTY INFO
FACTS
- Single Family
- Built In 1974
- Price/Sqft : $300.53
- 4 Days on Market
- MLS # : 6186781
- Updated Date : 01/30/2021 at 16:11
CONSTRUCTION
- Beds : 3
- Floor Size : 2,246 sqft
- Baths : 2 full
Listing Agent
Keller Williams Integrity First
Listing Agent's Description
The Farmhouse You Have Been Waiting For!!! A MUST See! Completely remodeled IRRIGATED horse property in the heart of Gilbert. This fantastic piece of property sits on 1+ acres, with a DETACHED GARAGE, Covered RV PARKING, and 2 Stall Horse Facility w/ Pasture. Inside, you will find a beautifully remodeled open concept floor plan, complete with a Gourmet Kitchen, 42in White Cabinetry, Marble Countertops, Flat Cooktop Stove and Built in Ovens. Home has oversized wood-look tile, upgraded bathrooms, and fresh paint throughout. Enjoy the mature trees, NEW extended patio, and Wood Plank fencing in your peaceful backyard. All with NO HOA. Make your appointment today!
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PRICE & RENT TRENDS
Neighborhood: Porter Acres
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Porter Acres
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,010 |
| EXPENSES | Loan Payment | -$2,345 |
| Property Tax | -$397 | |
| Property Insurance | -$71 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$901
|
||
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.
$675,000
PROJECTED PRICE
$2,010
PROJECTED RENT
0.30%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.17% |
| Appreciation Year (1-5) | 6.1% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.60% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$184,625
LOAN DETAILS
$2,345
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $168,750 |
| Loan Amount | $506,250 |
0.25
YEARS SAVED
$135
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,010
LIST RENT -
$0.89
LIST RENT PER SQFT
-
$2,263
COMP ESTIMATED VALUE -
$1.01
COMP AVG. RENT PER SQFT
Comps Range
-
1000 E Houston Avenue Gilbert, AZ 1
- 3 beds 2 baths ∙ 2,246 Sqft ∙ Built 1974 3 beds 2 baths ∙ 2,246 Sqft ∙ Built 1974
- Rent
- Rent Per SQFT
- $2,010
- $0.89
-
1410 E Beacon Drive Gilbert, AZ 2
- 4 beds 3 baths ∙ 2,067 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,067 Sqft ∙ Built 1992
LEASED 10/09/20- Rent
- Rent Per SQFT
- $2,100
- $1.02
-
1510 E Beacon Drive Gilbert, AZ 3
- 3 beds 3 baths ∙ 2,067 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,067 Sqft ∙ Built 1992
LEASED 11/10/20- Rent
- Rent Per SQFT
- $2,100
- $1.02
-
361 E Aspen Way Gilbert, AZ 4
- 4 beds 3 baths ∙ 2,302 Sqft ∙ Built 1984 4 beds 3 baths ∙ 2,302 Sqft ∙ Built 1984
LEASED 11/01/20- Rent
- Rent Per SQFT
- $2,295
- $1.00
-
1419 E Encinas Avenue Gilbert, AZ 5
- 4 beds 3 baths ∙ 2,370 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,370 Sqft ∙ Built 1992
LEASED 08/28/20- Rent
- Rent Per SQFT
- $2,350
- $0.99
PROPERTY LISTING DETAILS
Keller Williams Integrity First
1.866.250.5610
Mynd Property Management
LC664597000
MLS #: 6186781
Last Updated: 01/30/2021
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. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.
