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118 W Smoke Tree Road Gilbert, AZ 85233

4 Beds 3 Baths 1,872 sqft Built 1993

$380,000

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $202.99
  • 2 Days on Market
  • MLS # : 6160426
  • Updated Date : 11/14/2020 at 17:33
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,872 sqft
  • Baths : 2 full , 1 half
Listing Agent

Gentry Real Estate

Listing Agent's Description

Welcome home to Lago Estancia! This gorgeous home is just a short drive to Downtown Gilbert (Heritage District), undoubtedly fun and vibrant with plenty of dining, shopping, arts and culture. Upon entering you are greeted by soaring ceilings, a sweeping staircase, and the spacious great room with a fireplace. The beautiful kitchen offers Quartz countertops, white cabinets, upgraded fixtures, pantry, and separate dining room with bay window. The downstairs master suite offers private exit, dual sinks and a stunning tile shower. Upstairs, the 3 additional bedrooms are generously sized and offer flexibility for how you want to live. Backyard with covered and extended patio allows you to relax or play, and enjoy the Arizona lifestyle year round. You don't want to miss out on this awesome home!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Lago Estancia

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Lago Estancia

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9751981

* 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
Gilbert Elementary School Primary Regular 592 39 6
Mesquite Jr High School Middle Regular 715 34 7
Mesquite High School High Regular 2,000 82 6

Gilbert Elementary School

  • Education Level: Primary
  • # of students: 592
  • # of teachers: 39
6
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
 

$342,000$418,000$380,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$1,402
Property Tax -$223
Property Insurance -$64
HOA -$68
Property Management Fees -$99
CASH FLOW
-$226

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.

$380,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.2%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$106,450

INVESTMENT

$106,450

Down Payment
$95,000
Rehab Estimate
$5,750
Closing Costs
$5,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,402

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $95,000
Loan Amount $285,000
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$8,460

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,732

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,630
1$1,6302$1,6953$1,6954$1,6955$1,700
$1,700
RENT COMPS ANALYSIS
  • 118 W Smoke Tree Road Gilbert, AZ 1
    • 4 beds 3 baths ∙ 1,872 Sqft ∙ Built 1993 4 beds 3 baths ∙ 1,872 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.87
    •  
  • 501 W Mesquite Street Gilbert, AZ 2
    • 3 beds 2 baths ∙ 1,856 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,856 Sqft ∙ Built 1998
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.91
    •  
  • 344 S Bronco Lane Gilbert, AZ 3
    • 4 beds 2 baths ∙ 1,874 Sqft ∙ Built 1988 4 beds 2 baths ∙ 1,874 Sqft ∙ Built 1988
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.90
    •  
  • 255 E Rawhide Avenue Gilbert, AZ 4
    • 4 beds 2 baths ∙ 1,868 Sqft ∙ Built 1997 4 beds 2 baths ∙ 1,868 Sqft ∙ Built 1997
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.91
    •  
  • 39 N Pueblo Street Gilbert, AZ 5
    • 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 1994
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.98
    •  
PROPERTY LISTING DETAILS
Miquel A Cardenas
Gentry Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6160426
Last Updated: 11/14/2020
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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