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1249 W Islandia Drive Gilbert, AZ 85233

5 Beds 3 Baths 2,719 sqft Built 1994

$500,000

List Price

$2,560

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $183.89
  • 2 Days on Market
  • MLS # : 6189831
  • Updated Date : 02/06/2021 at 07:22
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,719 sqft
  • Baths : 3 full
Listing Agent

Homesmart

Listing Agent's Description

Popular Del Mar floorplan on oversized lot in sought after Islands community. 2 Story home w/ solar offers curb appeal w/ mature landscape, front patio & 3 car garage w/ lots of storage. Enter this open & spacious floorplan w/ lots of natural light at the living & dining room w/ beautiful wood staircase. A large family room w/brick fireplace leads to eat-in kitchen, w/ bay window, stainless steel appliances, plenty of cabinet space & island! This home features 5 large bedrooms, one of the bedroom down w/ access to a bathroom w/ shower. Huge master suite on second level: lake views from garden tub, separate shower & his/hers closet. Sliding doors lead to private backyard w/large covered patio, spacious back yard & a sparkling pool w/ rock water feature.Check out www.islandscommunity.com

SEE MORE

PRICE & RENT TRENDS

Neighborhood: The Islands

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $122k367k

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

Neighborhood: The Islands

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10201981

* 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
Mesquite High School High Regular 2,000 82 6
Mesquite Jr High School Middle Unknown NA

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

Mesquite Jr High School

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

$450,000$550,000$500,000

PURCHASE PRICE

$2,304$2,816$2,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,560
EXPENSES Loan Payment -$1,737
Property Tax -$294
Property Insurance -$80
HOA -$9
Property Management Fees -$99
CASH FLOW
$341

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.

$500,000

PROJECTED PRICE

$2,560

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 7.3%
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$1.8M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,250

INVESTMENT

$138,250

Down Payment
$125,000
Rehab Estimate
$5,750
Closing Costs
$7,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,737

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $125,000
Loan Amount $375,000
See What Happens When You Reinvest Cash Flow

9.08

YEARS SAVED

$62,149

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $2,814

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,4953$2,6004$2,6955$2,950
$2,950
RENT COMPS ANALYSIS
  • 1249 W Islandia Drive Gilbert, AZ 1
    • 5 beds 3 baths ∙ 2,719 Sqft ∙ Built 1994 5 beds 3 baths ∙ 2,719 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1118 W Newport Beach Drive Gilbert, AZ 2
    • 4 beds 3 baths ∙ 2,493 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,493 Sqft ∙ Built 1987
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.00
    •  
  • 1024 W Starward Court Gilbert, AZ 3
    • 4 beds 2 baths ∙ 2,413 Sqft ∙ Built 1992 4 beds 2 baths ∙ 2,413 Sqft ∙ Built 1992
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.08
    •  
  • 1426 W Key Largo Court Gilbert, AZ 4
    • 4 beds 3 baths ∙ 2,740 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,740 Sqft ∙ Built 1986
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.98
    •  
  • 773 S Ocean Drive Gilbert, AZ 5
    • 4 beds 3 baths ∙ 2,719 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,719 Sqft ∙ Built 1994
    LEASED 04/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.08
    •  
PROPERTY LISTING DETAILS
Patricia Miller
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6189831
Last Updated: 02/06/2021
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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