Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1181 S Larkspur Street Gilbert, AZ 85296

3 Beds 2 Baths 1,861 sqft Built 1995

INVESTimate

$415,000

List Price

$1,780

$1,602 - $1,958

Rent Est.

$435,709  ( +4.99%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1995
  • Price/Sqft : $223.00
  • 5 Days on Market
  • MLS # : 6121144
  • Updated Date : 08/24/2020 at 10:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,861 sqft
  • Baths : 2 full
Listing Agent

Real Property Management Private Wealth

Listing Agent's Description

Gorgeous completely remodeled home located in the Settlers Ranch neighborhood of Gilbert. Vaulted ceilings and separate dining room. Completely opened floor plan kitchen. Oversized island with quartz countertops and brand new cabinets throughout the property. This 3/2 has brand new patterned contessa carpet in every bedroom. Master bathroom was completely remodeled from top to bottom with a beautiful glass walk-in shower equipped with a dry seating area. All of the fixtures in the bathrooms are brand new. .Garage was freshly painted and sealed with speckled epoxy. Separate laundry room perfect for storage and folding clothes.. Exterior and Interior Painted. New French doors in the living room. Don't forget the pool. Be the first person to live in this stunningly remodeled home.

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
Settlers Point Elementary School Primary Regular 638 38 8
South Valley Jr. High School Middle Regular 1,193 53 9
Campo Verde High School High Regular 2,094 86 8

Settlers Point Elementary School

  • Education Level: Primary
  • # of students: 638
  • # of teachers: 38
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
 

$373,500$456,500$415,000

PURCHASE PRICE

$1,602$1,958$1,780

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,780
EXPENSES Loan Payment -$1,531
Property Tax -$244
Property Insurance -$63
HOA -$58
Property Management Fees -$99
CASH FLOW
-$216

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.

$415,000

PROJECTED PRICE

$1,780

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.99%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,725

INVESTMENT

$115,725

Down Payment
$103,750
Rehab Estimate
$5,750
Closing Costs
$6,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,531

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $103,750
Loan Amount $311,250
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$11,330

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,780

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,861

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7003$1,7604$1,7805$2,195
$2,195
RENT COMPS ANALYSIS
  • 1181 S Larkspur Street Gilbert, 4
    • 3 beds 2 baths ∙ 1,861 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,861 Sqft ∙ Built 1995
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $0.96
    •  
  • 869 E Kyle Court Gilbert, 1
    • 3 beds 2 baths ∙ 1,683 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,683 Sqft ∙ Built 2001
    property image
    LEASED 10/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.98
    •  
  • 330 E Constitution Drive Gilbert, 2
    • 3 beds 2 baths ∙ 1,716 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,716 Sqft ∙ Built 1996
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.99
    •  
  • 760 E Windsor Drive Gilbert, 3
    • 3 beds 2 baths ∙ 1,825 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,825 Sqft ∙ Built 1996
    property image
    LEASED 12/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.96
    •  
  • 469 E Sherri Drive Gilbert, 5
    • 4 beds 3 baths ∙ 2,049 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,049 Sqft ∙ Built 1998
    property image
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.07
    •  
PROPERTY LISTING DETAILS
Jonah Coe
Real Property Management Private Wealth
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6121144
Last Updated: 08/24/2020
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.

BESbswy