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1100 S Palomino Creek Drive Gilbert, AZ 85296

3 Beds 2 Baths 2,131 sqft Built 1995

$410,000

List Price

$1,840

$1.7K - $2K

Rent Est.

PROPERTY INFO

November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $192.40
  • 5 Days on Market
  • MLS # : 6146172
  • Updated Date : 11/13/2020 at 17:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,131 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

WOW! Great home that's right on the golf course, Beautiful spacious home with vaulted ceilings, all the bedrooms are big with plenty of closet storage, home is bright and open, lots of cabinets in the kitchen, kitchen island, plantation shutters, exceptional views of the golf course, large covered patio, perfect for entertaining out back, AC is 4 years old, tankless water heater less then a year old, Home has so much to offer, come see before it's too late.

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
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
 

$369,000$451,000$410,000

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,840
EXPENSES Loan Payment -$1,513
Property Tax -$241
Property Insurance -$69
HOA -$11
Property Management Fees -$99
CASH FLOW
-$92

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.

$410,000

PROJECTED PRICE

$1,840

PROJECTED RENT

0.45%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$114,400

INVESTMENT

$114,400

Down Payment
$102,500
Rehab Estimate
$5,750
Closing Costs
$6,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,513

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $102,500
Loan Amount $307,500
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$20,469

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,840

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,918

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8253$1,8404$1,9005$2,195
$2,195
RENT COMPS ANALYSIS
  • 1100 S Palomino Creek Drive Gilbert, AZ 3
    • 3 beds 2 baths ∙ 2,131 Sqft ∙ Built 1995 3 beds 2 baths ∙ 2,131 Sqft ∙ Built 1995
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $0.86
    •  
  • 1142 E San Tan Drive Gilbert, AZ 1
    • 4 beds 3 baths ∙ 2,041 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,041 Sqft ∙ Built 1999
    property image
    LEASED 02/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.88
    •  
  • 1148 S Roca Street Gilbert, AZ 2
    • 4 beds 2 baths ∙ 2,094 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,094 Sqft ∙ Built 2000
    property image
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.87
    •  
  • 1062 S Butte Lane Gilbert, AZ 4
    • 3 beds 3 baths ∙ 2,185 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,185 Sqft ∙ Built 1996
    property image
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.87
    •  
  • 1346 S Palomino Creek Drive Gilbert, AZ 5
    • 3 beds 3 baths ∙ 2,237 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,237 Sqft ∙ Built 1998
    property image
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.98
    •  
PROPERTY LISTING DETAILS
Tina Barton
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6146172
Last Updated: 11/13/2020
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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