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1270 N Ithica Street Gilbert, AZ 85233

5 Beds 3 Baths 2,737 sqft Built 1996

$430,000

List Price

$2,450

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

December 31, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $157.11
  • 4 Days on Market
  • MLS # : 6175486
  • Updated Date : 01/01/2021 at 19:25
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,737 sqft
  • Baths : 3 full
Listing Agent

Realty Executives

Listing Agent's Description

5 bedrooms and 3 full bathrooms with one bedroom downstairs, perfect for an in-law suite. Master bathroom boasts a separate tub and shower, separate vanities, two closets, Remodled kitchen with new stainless steel applicances Extended back patio with view fencing that looks out over a golf course . Community park includes tennis court, basketball court and children's playground.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: El Dorado Lakes Golf Community

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $122k397k

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

Neighborhood: El Dorado Lakes Golf Community

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10361991

* 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
Playa Del Rey Elementary School Primary Regular 500 37 7
Mesquite Jr High School Middle Regular 715 34 7
Mesquite High School High Regular 2,000 82 6

Playa Del Rey Elementary School

  • Education Level: Primary
  • # of students: 500
  • # of teachers: 37
7
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
 

$387,000$473,000$430,000

PURCHASE PRICE

$2,205$2,695$2,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,450
EXPENSES Loan Payment -$1,587
Property Tax -$253
Property Insurance -$81
HOA -$12
Property Management Fees -$99
CASH FLOW
$419

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.

$430,000

PROJECTED PRICE

$2,450

PROJECTED RENT

0.57%

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$1.2M$1.4M$1.6M

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$119,700

INVESTMENT

$119,700

Down Payment
$107,500
Rehab Estimate
$5,750
Closing Costs
$6,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,587

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $107,500
Loan Amount $322,500
See What Happens When You Reinvest Cash Flow

10.5

YEARS SAVED

$78,981

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
  • $2,716

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,2503$2,2954$2,8505$2,900
$2,900
RENT COMPS ANALYSIS
  • 1270 N Ithica Street Gilbert, AZ 1
    • 5 beds 3 baths ∙ 2,737 Sqft ∙ Built 1996 5 beds 3 baths ∙ 2,737 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 908 W Juanita Avenue Gilbert, AZ 2
    • 4 beds 3 baths ∙ 2,426 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,426 Sqft ∙ Built 1994
    property image
    LEASED 08/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.93
    •  
  • 1107 N Eldon Court Gilbert, AZ 3
    • 5 beds 3 baths ∙ 2,453 Sqft ∙ Built 1994 5 beds 3 baths ∙ 2,453 Sqft ∙ Built 1994
    property image
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.94
    •  
  • 1718 W Campbell Avenue Gilbert, AZ 4
    • 5 beds 3 baths ∙ 2,732 Sqft ∙ Built 1995 5 beds 3 baths ∙ 2,732 Sqft ∙ Built 1995
    property image
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.04
    •  
  • 1850 W Merrill Lane Gilbert, AZ 5
    • 5 beds 3 baths ∙ 2,732 Sqft ∙ Built 1996 5 beds 3 baths ∙ 2,732 Sqft ∙ Built 1996
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.06
    •  
PROPERTY LISTING DETAILS
Joanie M Mahar
Realty Executives
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6175486
Last Updated: 01/01/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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