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1040 W Windhaven Avenue Gilbert, AZ 85233

4 Beds 3 Baths 2,118 sqft Built 1999

$449,900

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $212.42
  • 2 Days on Market
  • MLS # : 6170748
  • Updated Date : 12/12/2020 at 13:55
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,118 sqft
  • Baths : 3 full
Listing Agent

Phoenix Urban Spaces

Listing Agent's Description

Total renovation in Gilbert - 85233! This 4 Bedroom + Loft has 3 Full Bathrooms and a Master Suite on the 1st floor. Everything in this home is NEW. Spacious kitchen with an abundance of white, soft close cabinets, Quartz counters and new stainless appliances. Bathrooms all have new cabinets, hardware, fixtures and lighting. New LVT Flooring in living and wet areas with carpet and upgraded pad in the bedrooms. New interior paint throughout. All lighting, fans and fixtures updated. North facing backyard with mature landscaping boasts lemon and orange trees and even a putting green!. Oversized 2 car garage with storage. Ignore days on market, home has been under renovation. Seller adding finishing touches today!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Summer Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Summer Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10181981

* 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
Playa Del Rey Elementary School Primary Regular 500 37 7
Mesquite Jr High School Middle Regular 715 34 7
Mesquite High School High Regular 2,000 82 6

Playa Del Rey Elementary School

  • Education Level: Primary
  • # of students: 500
  • # of teachers: 37
7
GreatSchools Rating

Mesquite Jr High School

  • Education Level: Middle
  • # of students: 715
  • # of teachers: 34
7
GreatSchools Rating

Mesquite High School

  • Education Level: High
  • # of students: 2,000
  • # of teachers: 82
6
GreatSchools Rating
 

$404,910$494,890$449,900

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$1,660
Property Tax -$265
Property Insurance -$68
HOA -$41
Property Management Fees -$99
CASH FLOW
-$253

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.

$449,900

PROJECTED PRICE

$1,880

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 7.2%
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$124,974

INVESTMENT

$124,974

Down Payment
$112,475
Rehab Estimate
$5,750
Closing Costs
$6,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,475
Loan Amount $337,425
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$11,223

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,869

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,725
1$1,7252$1,8753$1,8804$1,9505$1,995
$1,995
RENT COMPS ANALYSIS
  • 1040 W Windhaven Avenue Gilbert, AZ 3
    • 4 beds 3 baths ∙ 2,118 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,118 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $0.89
    •  
  • 646 W Silver Creek Road Gilbert, AZ 1
    • 4 beds 2 baths ∙ 2,068 Sqft ∙ Built 1990 4 beds 2 baths ∙ 2,068 Sqft ∙ Built 1990
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.83
    •  
  • 1087 W Windhaven Avenue Gilbert, AZ 2
    • 5 beds 3 baths ∙ 2,118 Sqft ∙ Built 1999 5 beds 3 baths ∙ 2,118 Sqft ∙ Built 1999
    LEASED 12/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.89
    •  
  • 38 S Sundial Drive Gilbert, AZ 4
    • 3 beds 3 baths ∙ 2,147 Sqft ∙ Built 1991 3 beds 3 baths ∙ 2,147 Sqft ∙ Built 1991
    LEASED 08/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.91
    •  
  • 626 W Palo Verde Street Gilbert, AZ 5
    • 4 beds 3 baths ∙ 2,210 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,210 Sqft ∙ Built 1988
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.90
    •  
PROPERTY LISTING DETAILS
Roberta Candelaria
Phoenix Urban Spaces
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6170748
Last Updated: 12/12/2020
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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