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1308 E Flamingo Court Gilbert, AZ 85297

6 Beds 5 Baths 4,778 sqft Built 2005

$780,000

List Price

$3,060

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $163.25
  • 6 Days on Market
  • MLS # : 6198027
  • Updated Date : 02/25/2021 at 20:24
CONSTRUCTION
  • Beds : 6
  • Floor Size : 4,778 sqft
  • Baths : 4 full , 1 half
Listing Agent

Realty One Group

Listing Agent's Description

This gorgeous, luxury style home includes many features and amenities highly appealing for all buyers. The home features a 4 car garage with plenty of parking space in the driveway and a private, lush front yard with a covered front porch seating area. Every detail is unique, such as the beautiful stone entrance, the detailed tile mosaic on the ceramic tile, the European styled bathroom, and the beautiful light fixtures. This lovely home has hard wood floors with ceramic tiles in high traffic areas. Other charming features are the stone fireplace, the staggered kitchen cabinets with crown molding and plenty of storage, and the formal dining room surrounded by windows, providing natural light...The second master suite with its own private bathroom is included in this elegant 6 bedroom

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PRICE & RENT TRENDS

Neighborhood: Estates at the Spectrum

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $122k414k

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

Neighborhood: Estates at the Spectrum

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10362166

* 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
Payne Junior High School Middle Regular 1,518 70 9
Perry High School High Regular 3,194 142 7
Perry High School High Unknown NA

Payne Junior High School

  • Education Level: Middle
  • # of students: 1,518
  • # of teachers: 70
9
GreatSchools Rating

Perry High School

  • Education Level: High
  • # of students: 3,194
  • # of teachers: 142
7
GreatSchools Rating

Perry High School

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

$702,000$858,000$780,000

PURCHASE PRICE

$2,754$3,366$3,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,060
EXPENSES Loan Payment -$2,709
Property Tax -$564
Property Insurance -$120
HOA -$23
Property Management Fees -$99
CASH FLOW
-$455

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.

$780,000

PROJECTED PRICE

$3,060

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.5%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$212,450

INVESTMENT

$212,450

Down Payment
$195,000
Rehab Estimate
$5,750
Closing Costs
$11,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,709

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $195,000
Loan Amount $585,000
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$12,325

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
  • $3,153

    COMP ESTIMATED VALUE
  • $0.66

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,000
$3,000
RENT COMPS ANALYSIS
  • 1308 E Flamingo Court Gilbert, AZ 1
    • 6 beds 5 baths ∙ 4,778 Sqft ∙ Built 2005 6 beds 5 baths ∙ 4,778 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 531 E Elgin Court Gilbert, AZ 2
    • 5 beds 5 baths ∙ 4,523 Sqft ∙ Built 2003 5 beds 5 baths ∙ 4,523 Sqft ∙ Built 2003
    LEASED 09/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.66
    •  
PROPERTY LISTING DETAILS
Zoran Gajanovic
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6198027
Last Updated: 02/25/2021
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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