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117 N Riata Street Gilbert, AZ 85234

4 Beds 3 Baths 3,425 sqft Built 1984

$849,900

List Price

$3,070

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

December 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $248.15
  • 7 Days on Market
  • MLS # : 6163678
  • Updated Date : 12/26/2020 at 11:58
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,425 sqft
  • Baths : 3 full
Listing Agent

Homesmart

Listing Agent's Description

Coming Soon minutes away from downtown Gilbert in the highly sought after custom home neighborhood, ''The Groves of Gilbert'' 4 bed/3 bath home with beautifully landscaped backyard & pool! Open spacious Great Room with vaulted ceiling, wood floors & fireplace. Eat-in kitchen with stainless steel island, breakfast bar, walk-in pantry & LG stainless steel refrigerator. Large office/den with window seat. Split Master bedroom with cozy fireplace, French doors to outside & ensuite with double sinks, separate shower, free-standing tub & generous walk-in closet. Additional split bedroom with adjacent bath in hall would make a great guest quarters. Third & Fourth bedrooms are connected with a Jack & Jill bath & Fourth bedroom features a large sitting area. Pella windows, doors & plantation

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Groves of Gilbert

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650kPrice in $122k684k

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

Neighborhood: Groves of Gilbert

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $10362804

* 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
Burk Elementary School Primary Regular 471 32 7
Burk Elementary School Middle Regular 471 32 7
Gilbert High School High Regular 2,470 113 7

Burk Elementary School

  • Education Level: Primary
  • # of students: 471
  • # of teachers: 32
7
GreatSchools Rating

Burk Elementary School

  • Education Level: Middle
  • # of students: 471
  • # of teachers: 32
7
GreatSchools Rating

Gilbert High School

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

$764,910$934,890$849,900

PURCHASE PRICE

$2,763$3,377$3,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,070
EXPENSES Loan Payment -$3,136
Property Tax -$500
Property Insurance -$94
HOA -$7
Property Management Fees -$99
CASH FLOW
-$765

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.

$849,900

PROJECTED PRICE

$3,070

PROJECTED RENT

0.36%

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$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$230,974

INVESTMENT

$230,974

Down Payment
$212,475
Rehab Estimate
$5,750
Closing Costs
$12,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,136

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $212,475
Loan Amount $637,425
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$7,092

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,070

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,749

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$2,275
1$2,2752$2,8003$2,8004$2,9005$3,070
$3,070
RENT COMPS ANALYSIS
  • 117 N Riata Street Gilbert, AZ 5
    • 4 beds 3 baths ∙ 3,425 Sqft ∙ Built 1984 4 beds 3 baths ∙ 3,425 Sqft ∙ Built 1984
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,070
    • $0.90
    •  
  • 484 E Ranch Road Gilbert, AZ 1
    • 5 beds 4 baths ∙ 3,435 Sqft ∙ Built 1998 5 beds 4 baths ∙ 3,435 Sqft ∙ Built 1998
    property image
    LEASED 10/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,275
    • $0.66
    •  
  • 645 E Desert Lane Gilbert, AZ 2
    • 4 beds 4 baths ∙ 3,170 Sqft ∙ Built 1980 4 beds 4 baths ∙ 3,170 Sqft ∙ Built 1980
    property image
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.88
    •  
  • 345 N Date Palm Drive Gilbert, AZ 3
    • 5 beds 4 baths ∙ 3,541 Sqft ∙ Built 1999 5 beds 4 baths ∙ 3,541 Sqft ∙ Built 1999
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.79
    •  
  • 230 E Appaloosa Court Gilbert, AZ 4
    • 5 beds 3 baths ∙ 3,300 Sqft ∙ Built 1994 5 beds 3 baths ∙ 3,300 Sqft ∙ Built 1994
    property image
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.88
    •  
PROPERTY LISTING DETAILS
Phyllis Heiden
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6163678
Last Updated: 12/26/2020
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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