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1086 E Bart Street Gilbert, AZ 85295

4 Beds 3 Baths 2,395 sqft Built 1998

$470,000

List Price

$2,120

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $196.24
  • 4 Days on Market
  • MLS # : 6188399
  • Updated Date : 02/04/2021 at 08:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,395 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homesmart

Listing Agent's Description

Welcome Home to this beautifully updated 2395sqft , 4 bedroom plus den, 3 bath home featuring a sparkling pool, owned solar and a double gate with gravel side yard!! Step inside and you will be greeted with new 12 x 24 almond tile flooring throughout the first floor, new baseboards, a sitting room/flex room with upgraded crown molding, a formal dining room and kitchen that opens to the great room. The eat in kitchen features stainless steel appliances, electric cooktop, built-in microwave, pot rack, updated lighting and a buffet for extra prep space with a built-in desk. Open den, updated bath with shower, laundry room with upper and lower cabinets and folding counter and under stair storage completes the downstairs. A white banister leads to the upstairs featuring updated gray wood

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Springtree

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $122k426k

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

Neighborhood: Springtree

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10362066

* 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
 

$423,000$517,000$470,000

PURCHASE PRICE

$1,908$2,332$2,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,120
EXPENSES Loan Payment -$1,632
Property Tax -$276
Property Insurance -$74
HOA -$17
Property Management Fees -$99
CASH FLOW
$22

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.

$470,000

PROJECTED PRICE

$2,120

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.2%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$130,300

INVESTMENT

$130,300

Down Payment
$117,500
Rehab Estimate
$5,750
Closing Costs
$7,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,632

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $117,500
Loan Amount $352,500
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$28,572

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,120

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,275

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,1203$2,1954$2,3505$2,450
$2,450
RENT COMPS ANALYSIS
  • 1086 E Bart Street Gilbert, AZ 2
    • 4 beds 3 baths ∙ 2,395 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,395 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,120
    • $0.89
    •  
  • 1115 E Sheffield Avenue Gilbert, AZ 1
    • 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
    •  
  • 1346 S Palomino Creek Drive Gilbert, AZ 3
    • 3 beds 3 baths ∙ 2,237 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,237 Sqft ∙ Built 1998
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.98
    •  
  • 1238 E Eli Court Gilbert, AZ 4
    • 4 beds 2 baths ∙ 2,350 Sqft ∙ Built 1999 4 beds 2 baths ∙ 2,350 Sqft ∙ Built 1999
    LEASED 06/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.00
    •  
  • 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
Richard T Stinebuck
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6188399
Last Updated: 02/04/2021
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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