Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1309 E Cassia Lane Gilbert, AZ 85298

4 Beds 3 Baths 2,418 sqft Built 2004

$425,000

List Price

$2,040

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $175.77
  • 2 Days on Market
  • MLS # : 6146029
  • Updated Date : 11/07/2020 at 11:25
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,418 sqft
  • Baths : 3 full
Listing Agent

Heart And Home Realty

Listing Agent's Description

Beautiful home in a highly sought after Gilbert neighborhood. 4 bedrooms, 3 baths and a den along with a fully landscaped yard and an RV gate. One bedroom, a den and full bath downstairs with Master and 2 more bedrooms upstairs with a jack and jill bath. NEW stainless steel appliances, NEW A/C unit, extra large front porch, wonderful backyard, 3 car extra deep tandem garage with additional outlets and a 220v outlet.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Vista Dorada

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $122k366k

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

Neighborhood: Vista Dorada

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10362013

* 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
Weinberg Elementary School Primary Regular 846 42 8
Payne Junior High School Middle Regular 1,518 70 9
Perry High School High Regular 3,194 142 7

Weinberg Elementary School

  • Education Level: Primary
  • # of students: 846
  • # of teachers: 42
8
GreatSchools Rating

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
 

$382,500$467,500$425,000

PURCHASE PRICE

$1,836$2,244$2,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,040
EXPENSES Loan Payment -$1,568
Property Tax -$298
Property Insurance -$74
HOA -$23
Property Management Fees -$99
CASH FLOW
-$22

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.

$425,000

PROJECTED PRICE

$2,040

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.8%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,568

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$26,708

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
  • $2,134

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,9853$2,1004$2,3255$2,395
$2,395
RENT COMPS ANALYSIS
  • 1309 E Cassia Lane Gilbert, AZ 1
    • 4 beds 3 baths ∙ 2,418 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,418 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1441 E Thornton Avenue #0 Gilbert, AZ 2
    • 3 beds 3 baths ∙ 2,350 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,350 Sqft ∙ Built 2005
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,985
    • $0.84
    •  
  • 1331 E Strawberry Drive Gilbert, AZ 3
    • 4 beds 3 baths ∙ 2,610 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,610 Sqft ∙ Built 2005
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.80
    •  
  • 1263 E Walnut Road Gilbert, AZ 4
    • 4 beds 3 baths ∙ 2,418 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,418 Sqft ∙ Built 2005
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,325
    • $0.96
    •  
  • 1133 E Buckingham Avenue Gilbert, AZ 5
    • 4 beds 3 baths ∙ 2,571 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,571 Sqft ∙ Built 2013
    LEASED 11/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.93
    •  
PROPERTY LISTING DETAILS
Judie Tunny
Heart And Home Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6146029
Last Updated: 11/07/2020
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.

BESbswy