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1006 E Scott Avenue Gilbert, AZ 85234

3 Beds 2 Baths 1,353 sqft Built 1996

INVESTimate

$312,000

List Price

$1,490

$1,341 - $1,639

Rent Est.

$330,970  ( +6.08%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1996
  • Price/Sqft : $230.60
  • 8 Days on Market
  • MLS # : 6119784
  • Updated Date : 08/24/2020 at 19:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,353 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

This one story home located in Gilbert and with sweet curb appeal is looking for a new owner! Exquisite great room layout with vaulted ceilings, 3 bed, 2 bath, and designer paint. You will love the gorgeous kitchen equipped with maple cabinets, all matching white appliances, and spacious pantry. Fabulous master suite comes with a full bath comprised of double sinks, garden tub, and step-in shower. Grassy backyard with covered patio is perfect to spend a nice evening with friends. If you want an awesome home, this is it! Make an offer today before it is sold!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Val Vista Park Place

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k337k

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

Neighborhood: Val Vista Park Place

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9051866

* 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
Patterson Elementary School Primary Regular 584 34 9
Patterson Elementary School Middle Regular 584 34 9
Gilbert High School High Regular 2,470 113 7

Patterson Elementary School

  • Education Level: Primary
  • # of students: 584
  • # of teachers: 34
9
GreatSchools Rating

Patterson Elementary School

  • Education Level: Middle
  • # of students: 584
  • # of teachers: 34
9
GreatSchools Rating

Gilbert High School

  • Education Level: High
  • # of students: 2,470
  • # of teachers: 113
7
GreatSchools Rating
 

$280,800$343,200$312,000

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$1,151
Property Tax -$191
Property Insurance -$54
HOA -$44
Property Management Fees -$99
CASH FLOW
-$49

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$312,000

PROJECTED PRICE

$1,490

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.08%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$88,430

INVESTMENT

$88,430

Down Payment
$78,000
Rehab Estimate
$5,750
Closing Costs
$4,680

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,151

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,000
Loan Amount $234,000
See What Happens When You Reinvest Cash Flow

4.92

YEARS SAVED

$18,306

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $1,569

    COMP ESTIMATED VALUE
  • $1.16

    COMP AVG. RENT PER SQFT
Comps Range
$1,490
1$1,4902$1,5953$1,6504$1,6955$1,725
$1,725
RENT COMPS ANALYSIS
  • 1006 E Scott Avenue Gilbert, 1
    • 3 beds 2 baths ∙ 1,353 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,353 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $1.10
    •  
  • 1419 E San Remo Avenue Gilbert, 2
    • 3 beds 2 baths ∙ 1,489 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,489 Sqft ∙ Built 1991
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.07
    •  
  • 605 N Granite Street Gilbert, 3
    • 3 beds 2 baths ∙ 1,383 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,383 Sqft ∙ Built 1989
    LEASED 11/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.19
    •  
  • 1144 N Sailors Way Gilbert, 4
    • 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1989
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.20
    •  
  • 1454 E Beacon Drive Gilbert, 5
    • 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 1992
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $1.18
    •  
PROPERTY LISTING DETAILS
Amber Pennell
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6119784
Last Updated: 08/24/2020
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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