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1209 W Royal Palms Court Gilbert, AZ 85233

4 Beds 3 Baths 2,277 sqft Built 1989

$470,000

List Price

$2,120

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $206.41
  • 2 Days on Market
  • MLS # : 6184002
  • Updated Date : 01/23/2021 at 18:54
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,277 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty East Valley

Listing Agent's Description

Stunning, updated, move-in ready, semi-custom home on cul-de-sac lot in The Islands Lake Community in Gilbert. You'll love this single story 4 bed, 2.5 bath home in one of the best communities in Gilbert. Enter to formal living room w wood fireplace and dining room. Adjacent is convenient office/4th bedroom w closet. Step into kitchen and family room w gas fireplace at the back of the house overlooking backyard and pool. Spacious Master Bedroom w Patio doors to patio. Master Bath features luxurious tub and shower. Bathroom vanities recently updated. Pebble tec pool, cool deck & pump updated in 2017/18. New roof in 2018. See list of updates in doc tab. You'll truly love this home and all that it has to offer... plus living in The Islands community w 3 lakes & community park

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Harbor Point

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $122k493k

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

Neighborhood: Harbor Point

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10362215

* 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
Islands Elementary School Primary Regular 598 39 7
Islands Elementary School Middle Regular 598 39 7
Mesquite High School High Regular 2,000 82 6

Islands Elementary School

  • Education Level: Primary
  • # of students: 598
  • # of teachers: 39
7
GreatSchools Rating

Islands Elementary School

  • Education Level: Middle
  • # of students: 598
  • # of teachers: 39
7
GreatSchools Rating

Mesquite High School

  • Education Level: High
  • # of students: 2,000
  • # of teachers: 82
6
GreatSchools Rating
 

$423,000$517,000$470,000

PURCHASE PRICE

$1,908$2,332$2,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,120
EXPENSES Loan Payment -$1,632
Property Tax -$276
Property Insurance -$72
HOA -$9
Property Management Fees -$99
CASH FLOW
$32

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.

$470,000

PROJECTED PRICE

$2,120

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.4%
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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$130,300

INVESTMENT

$130,300

Down Payment
$117,500
Rehab Estimate
$5,750
Closing Costs
$7,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,632

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $117,500
Loan Amount $352,500
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$29,602

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,120

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,146

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9503$2,1204$2,2505$2,300
$2,300
RENT COMPS ANALYSIS
  • 1209 W Royal Palms Court Gilbert, AZ 3
    • 4 beds 3 baths ∙ 2,277 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,277 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $2,120
    • $0.93
    •  
  • 1256 W Atlantic Drive Gilbert, AZ 1
    • 4 beds 3 baths ∙ 2,255 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,255 Sqft ∙ Built 1987
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.84
    •  
  • 38 S Sundial Drive Gilbert, AZ 2
    • 3 beds 3 baths ∙ 2,147 Sqft ∙ Built 1991 3 beds 3 baths ∙ 2,147 Sqft ∙ Built 1991
    LEASED 08/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.91
    •  
  • 1517 W Islandia Drive Gilbert, AZ 4
    • 4 beds 2 baths ∙ 2,204 Sqft ∙ Built 1988 4 beds 2 baths ∙ 2,204 Sqft ∙ Built 1988
    LEASED 12/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.02
    •  
  • 1413 W Coral Reef Drive Gilbert, AZ 5
    • 4 beds 3 baths ∙ 2,289 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,289 Sqft ∙ Built 1988
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.00
    •  
PROPERTY LISTING DETAILS
Lorraine A. Moller
Keller Williams Realty East Valley
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6184002
Last Updated: 01/23/2021
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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