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1148 N Larkspur Court Gilbert, AZ 85234

6 Beds 4 Baths 2,753 sqft Built 1987

$675,000

List Price

$2,440

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $245.19
  • 3 Days on Market
  • MLS # : 6193648
  • Updated Date : 02/12/2021 at 19:09
CONSTRUCTION
  • Beds : 6
  • Floor Size : 2,753 sqft
  • Baths : 3 full , 1 half
Listing Agent

Tcb Realty

Listing Agent's Description

Location! Location! Location! These homes don't come up for sale often. Friendliest neighborhood where you can block off the cul-da-sac for the kids or barrow sugar from the neighbor. With Fresh paint, open floorplan, updated bathrooms and a pool to cool off during these great Arizona Summers! Just minutes from Down Town Gilbert, shopping and pretty much everything you want! This is a must see!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Vista Alegre

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k337k

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

Neighborhood: Vista Alegre

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9211866

* 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 Jr High School Middle Regular 715 34 7
Gilbert High School High Regular 2,470 113 7
Mesquite Jr High School Middle Unknown NA

Mesquite Jr High School

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

Gilbert High School

  • Education Level: High
  • # of students: 2,470
  • # of teachers: 113
7
GreatSchools Rating

Mesquite Jr High School

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

$607,500$742,500$675,000

PURCHASE PRICE

$2,196$2,684$2,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,440
EXPENSES Loan Payment -$2,345
Property Tax -$397
Property Insurance -$81
Property Management Fees -$99
CASH FLOW
-$481

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$675,000

PROJECTED PRICE

$2,440

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$184,625

INVESTMENT

$184,625

Down Payment
$168,750
Rehab Estimate
$5,750
Closing Costs
$10,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,345

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $168,750
Loan Amount $506,250
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$9,340

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,440

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,377

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,3953$2,4404$2,600
$2,600
RENT COMPS ANALYSIS
  • 1148 N Larkspur Court Gilbert, AZ 3
    • 6 beds 4 baths ∙ 2,753 Sqft ∙ Built 1987 6 beds 4 baths ∙ 2,753 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $2,440
    • $0.89
    •  
  • 1406 N Saddle Street Gilbert, AZ 1
    • 5 beds 3 baths ∙ 2,647 Sqft ∙ Built 1996 5 beds 3 baths ∙ 2,647 Sqft ∙ Built 1996
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.89
    •  
  • 747 W Desert Avenue Gilbert, AZ 2
    • 5 beds 3 baths ∙ 2,879 Sqft ∙ Built 1998 5 beds 3 baths ∙ 2,879 Sqft ∙ Built 1998
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.83
    •  
  • 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
    •  
PROPERTY LISTING DETAILS
Thomas C. Brown
Tcb Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6193648
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.

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