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1015 E Constitution Drive Gilbert, AZ 85296

4 Beds 2 Baths 2,470 sqft Built 1997

$495,000

List Price

$2,090

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $200.40
  • 2 Days on Market
  • MLS # : 6162764
  • Updated Date : 11/20/2020 at 21:27
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,470 sqft
  • Baths : 2 full
Listing Agent

United Brokers Group

Listing Agent's Description

Welcome Home! This single level home is spacious with an inviting office/sitting room as you enter and large formal dining. Continue through the home to 4 bedrooms and 2 bathrooms. The owner's suite has an upgraded shower, large over-sized closet and an exit to the back patio.As you enter the living space of the home you will notice surround sound, a cozy fireplace and plantation shutters. The kitchen has granite counters and lots of cabinets along with stainless steel appliances. Take a walk out the back door to your oasis that includes covered patio, built in rotisserie propane grill, heated pool, spa, brand new pergola and new shed. Gas stub-out available off back patio.Enjoy the oversized 3 car garage to do projects and park your toys. Lots of storage space in the built in

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Lindsay Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Lindsay Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9871981

* 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
Mesquite Elementary School Primary Regular 612 34 8
South Valley Jr. High School Middle Regular 1,193 53 9
Campo Verde High School High Regular 2,094 86 8

Mesquite Elementary School

  • Education Level: Primary
  • # of students: 612
  • # of teachers: 34
8
GreatSchools Rating

South Valley Jr. High School

  • Education Level: Middle
  • # of students: 1,193
  • # of teachers: 53
9
GreatSchools Rating

Campo Verde High School

  • Education Level: High
  • # of students: 2,094
  • # of teachers: 86
8
GreatSchools Rating
 

$445,500$544,500$495,000

PURCHASE PRICE

$1,881$2,299$2,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,090
EXPENSES Loan Payment -$1,826
Property Tax -$291
Property Insurance -$75
HOA -$15
Property Management Fees -$99
CASH FLOW
-$216

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.

$495,000

PROJECTED PRICE

$2,090

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.0%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

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$136,925

INVESTMENT

$136,925

Down Payment
$123,750
Rehab Estimate
$5,750
Closing Costs
$7,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,826

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $123,750
Loan Amount $371,250
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$16,582

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,090

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,149

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,0003$2,0904$2,1505$2,450
$2,450
RENT COMPS ANALYSIS
  • 1015 E Constitution Drive Gilbert, AZ 3
    • 4 beds 2 baths ∙ 2,470 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,470 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $0.85
    •  
  • 2164 S Southwind Drive Gilbert, AZ 1
    • 4 beds 3 baths ∙ 2,493 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,493 Sqft ∙ Built 1999
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.78
    •  
  • 1115 E Sheffield Avenue Gilbert, AZ 2
    • 4 beds 3 baths ∙ 2,324 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,324 Sqft ∙ Built 1997
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.86
    •  
  • 298 E Jasper Court Gilbert, AZ 4
    • 4 beds 3 baths ∙ 2,443 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,443 Sqft ∙ Built 1998
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.88
    •  
  • 1240 E Sheffield Court Gilbert, AZ 5
    • 3 beds 3 baths ∙ 2,554 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,554 Sqft ∙ Built 1998
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.96
    •  
PROPERTY LISTING DETAILS
Drew Guarneri
United Brokers Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6162764
Last Updated: 11/20/2020
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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