Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1027 N Columbus Drive Gilbert, AZ 85234

5 Beds 4 Baths 2,866 sqft Built 1998

$576,500

List Price

$2,490

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $201.15
  • 4 Days on Market
  • MLS # : 6192612
  • Updated Date : 02/12/2021 at 21:53
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,866 sqft
  • Baths : 3 full , 1 half
Listing Agent

Penfield Properties

Listing Agent's Description

Have you been searching for a large family home in that perfect location? This is it**Charming home in a gated community at the end of the cul de sac with access to the greenbelt and playground within yards of your front door**Large master suite features a separate tub and shower and a walk in closet and an office with French doors leading to your private jacuzzi and yard with fruit trees and loads of grass and play area, plus a very large covered patio**Big loft upstairs, four bedrooms and two bathrooms**Eating area in the kitchen with all built in appliances**Val Vista Lakes consists of four lakes, 8 tennis courts and pickleball court, heated swimming pool and jacuzzi, a sandy beach, a lookout mountain, workout rooms, weight room, indoor racquetball courts and a beautiful banquet room**

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Castaway Bay

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Castaway Bay

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10361981

* 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
Highland Jr High School Middle Regular 1,269 59 8
Highland High School High Regular 3,065 123 8
Greenfield Junior High School Middle Unknown NA

Highland Jr High School

  • Education Level: Middle
  • # of students: 1,269
  • # of teachers: 59
8
GreatSchools Rating

Highland High School

  • Education Level: High
  • # of students: 3,065
  • # of teachers: 123
8
GreatSchools Rating

Greenfield Junior High School

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

$518,850$634,150$576,500

PURCHASE PRICE

$2,241$2,739$2,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,490
EXPENSES Loan Payment -$2,002
Property Tax -$339
Property Insurance -$83
HOA -$128
Property Management Fees -$99
CASH FLOW
-$161

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.

$576,500

PROJECTED PRICE

$2,490

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

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$158,523

INVESTMENT

$158,523

Down Payment
$144,125
Rehab Estimate
$5,750
Closing Costs
$8,648

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,002

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $144,125
Loan Amount $432,375
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$19,244

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,490

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,651

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,4903$2,5004$2,6005$2,800
$2,800
RENT COMPS ANALYSIS
  • 1027 N Columbus Drive Gilbert, AZ 2
    • 5 beds 4 baths ∙ 2,866 Sqft ∙ Built 1998 5 beds 4 baths ∙ 2,866 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,490
    • $0.87
    •  
  • 2262 E Beachcomber Drive Gilbert, AZ 1
    • 4 beds 3 baths ∙ 2,807 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,807 Sqft ∙ Built 1992
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.84
    •  
  • 1008 N Plymouth Court Gilbert, AZ 3
    • 4 beds 3 baths ∙ 2,527 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,527 Sqft ∙ Built 1986
    LEASED 09/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.99
    •  
  • 1758 E Marquette Drive Gilbert, AZ 4
    • 5 beds 3 baths ∙ 2,983 Sqft ∙ Built 1996 5 beds 3 baths ∙ 2,983 Sqft ∙ Built 1996
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.87
    •  
  • 1326 E Catamaran Drive Gilbert, AZ 5
    • 4 beds 3 baths ∙ 2,788 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,788 Sqft ∙ Built 2005
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.00
    •  
PROPERTY LISTING DETAILS
Maggie Diamond
Penfield Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6192612
Last Updated: 02/12/2021
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.

BESbswy