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126 E Palo Blanco Way Gilbert, AZ 85296

3 Beds 2 Baths 1,620 sqft Built 1998

$374,500

List Price

$1,460

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $231.17
  • 2 Days on Market
  • MLS # : 6163589
  • Updated Date : 11/21/2020 at 18:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,620 sqft
  • Baths : 2 full
Listing Agent

Arizona Experience Realty, Llc

Listing Agent's Description

This beautifully remodeled home right in the heart of downtown Gilbert won't last long! Enter the home thru the covered front porch with new tile. Stunning new Quartz counters throughout. The kitchen boasts a waterfall edge, floating shelves, new backsplash, plus a new fridge. Beautiful plank wood look tile throughout except the bedrooms. New carpet in the bedrooms. New fixtures, mirrors, shower tile & a barn door highlight the master bathroom. New fixtures & shiplap in the 2nd bath. Fresh neutral paint. Relax on your covered back patio overlooking the mature landscaped backyard & tons of cool decking perfect for adding your personal touch with furnishings & this is a fantastic entertaining backyard! Fantastic location! Close to all the local downtown Gilbert restaurants & shopping galore!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Farmhouse Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Farmhouse Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9471981

* 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
Gilbert High School High Regular 2,470 113 7

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

Gilbert High School

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

$337,050$411,950$374,500

PURCHASE PRICE

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$1,382
Property Tax -$220
Property Insurance -$59
HOA -$3
Property Management Fees -$99
CASH FLOW
-$303

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.

$374,500

PROJECTED PRICE

$1,460

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.6%
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

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$104,993

INVESTMENT

$104,993

Down Payment
$93,625
Rehab Estimate
$5,750
Closing Costs
$5,618

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,382

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,625
Loan Amount $280,875
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$4,767

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,616

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,460
1$1,4602$1,5503$1,5504$1,5955$1,650
$1,650
RENT COMPS ANALYSIS
  • 126 E Palo Blanco Way Gilbert, AZ 1
    • 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $0.90
    •  
  • 104 E Catclaw Street Gilbert, AZ 2
    • 3 beds 3 baths ∙ 1,564 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,564 Sqft ∙ Built 2007
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.99
    •  
  • 150 E Catclaw Street Gilbert, AZ 3
    • 3 beds 3 baths ∙ 1,564 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,564 Sqft ∙ Built 2008
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.99
    •  
  • 92 E Catclaw Street Gilbert, AZ 4
    • 3 beds 3 baths ∙ 1,564 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,564 Sqft ∙ Built 2007
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.02
    •  
  • 107 W Tumbleweed Court Gilbert, AZ 5
    • 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 1996
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.99
    •  
PROPERTY LISTING DETAILS
Ben Leeson
Arizona Experience Realty, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6163589
Last Updated: 11/21/2020
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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