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1017 E Boston Street Gilbert, AZ 85295

4 Beds 3 Baths 2,549 sqft Built 2017

$590,000

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $231.46
  • 4 Days on Market
  • MLS # : 6205181
  • Updated Date : 03/11/2021 at 08:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,549 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homesmart

Listing Agent's Description

Beautiful 4 bed, 2.5 bath home now for sale in Gilbert! This model has a bonus room instead of a three car garage bringing square footage to 2796 ($211/sf). The home has great curb appeal featuring desert landscaping and a gated front patio. The interior is bright and inviting with a separate formal dining area as well as a large living space that is open to the kitchen. The gourmet kitchen is comprised of beautiful dark wood cabinetry with crown molding, a walk-in pantry, stainless steel appliances, and a large island with bar seating. The master bedroom has a spacious walk-in closet, double sinks, and a separate tub and shower. The well-manicured backyard is perfect for entertaining with an ample seating area and relaxing water feature. Come see your future home today!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Gilbert

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Gilbert

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10361987

* 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
South Valley Jr. High School Middle Regular 1,193 53 9
Campo Verde High School High Regular 2,094 86 8
South Valley Jr. High School Middle Unknown NA

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

South Valley Jr. High School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$531,000$649,000$590,000

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$2,049
Property Tax -$347
Property Insurance -$77
HOA -$30
Property Management Fees -$99
CASH FLOW
-$662

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.

$590,000

PROJECTED PRICE

$1,940

PROJECTED RENT

0.33%

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$1.6M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$162,100

INVESTMENT

$162,100

Down Payment
$147,500
Rehab Estimate
$5,750
Closing Costs
$8,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,049

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $147,500
Loan Amount $442,500
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$800

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,918

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8503$1,8504$1,8955$1,940
$1,940
RENT COMPS ANALYSIS
  • 1017 E Boston Street Gilbert, AZ 5
    • 4 beds 3 baths ∙ 2,549 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,549 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.76
    •  
  • 2733 S Southwind Drive Gilbert, AZ 1
    • 4 beds 3 baths ∙ 2,430 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,430 Sqft ∙ Built 2004
    property image
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.72
    •  
  • 2660 S Sailors Way Gilbert, AZ 2
    • 4 beds 3 baths ∙ 2,430 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,430 Sqft ∙ Built 2005
    property image
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.76
    •  
  • 2697 S Sailors Way Gilbert, AZ 3
    • 3 beds 3 baths ∙ 2,460 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,460 Sqft ∙ Built 2004
    property image
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.75
    •  
  • 2663 S Sailors Way Gilbert, AZ 4
    • 4 beds 3 baths ∙ 2,430 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,430 Sqft ∙ Built 2004
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.78
    •  
PROPERTY LISTING DETAILS
Cynthia A Kelsey
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6205181
Last Updated: 03/11/2021
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. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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