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

1323 E Linda Lane Gilbert, AZ 85234

5 Beds 3 Baths 2,474 sqft Built 1995

$475,000

List Price

$2,260

$2K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $192.00
  • 12 Days on Market
  • MLS # : 6198196
  • Updated Date : 03/06/2021 at 02:54
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,474 sqft
  • Baths : 3 full
Listing Agent

Balboa Realty, Llc

Listing Agent's Description

This move-in ready home is conveniently located close to downtown Gilbert. Inside you will find new carpet and fresh paint throughout. Downstairs is a living room, family room, office/den, bedroom, guest bath and a bonus room off of backyard. Upstairs is master bed/bath, hall bath and 3 more bedrooms. Out back is nice sized grass area and pool. The master features separate shower and tub, private toilet room, dual sinks and a walk-in closet. One of the bedrooms upstairs features hardwood flooring and would make a perfect game room or man cave.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Lakeview Terrace at Wind Drift

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Lakeview Terrace at Wind Drift

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9911981

* 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
Greenfield Junior High School Middle Regular 917 44 9
Gilbert High School High Regular 2,470 113 7
Greenfield Junior High School Middle Unknown NA

Greenfield Junior High School

  • Education Level: Middle
  • # of students: 917
  • # of teachers: 44
9
GreatSchools Rating

Gilbert High School

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

Greenfield Junior High School

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

$427,500$522,500$475,000

PURCHASE PRICE

$2,034$2,486$2,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,260
EXPENSES Loan Payment -$1,650
Property Tax -$279
Property Insurance -$75
HOA -$48
Property Management Fees -$99
CASH FLOW
$108

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.

$475,000

PROJECTED PRICE

$2,260

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.1%
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

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$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,650

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$36,235

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
  • $2,412

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,9003$2,3504$2,4505$2,595
$2,595
RENT COMPS ANALYSIS
  • 1323 E Linda Lane Gilbert, AZ 1
    • 5 beds 3 baths ∙ 2,474 Sqft ∙ Built 1995 5 beds 3 baths ∙ 2,474 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 844 N Granite Street Gilbert, AZ 2
    • 4 beds 2 baths ∙ 2,166 Sqft ∙ Built 1992 4 beds 2 baths ∙ 2,166 Sqft ∙ Built 1992
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.88
    •  
  • 320 N Corrine Drive Gilbert, AZ 3
    • 4 beds 2 baths ∙ 2,357 Sqft ∙ Built 1989 4 beds 2 baths ∙ 2,357 Sqft ∙ Built 1989
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.00
    •  
  • 1625 E Heather Avenue Gilbert, AZ 4
    • 5 beds 3 baths ∙ 2,382 Sqft ∙ Built 1995 5 beds 3 baths ∙ 2,382 Sqft ∙ Built 1995
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.03
    •  
  • 1107 E Cullumber Street Gilbert, AZ 5
    • 4 beds 3 baths ∙ 2,617 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,617 Sqft ∙ Built 1988
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.99
    •  
PROPERTY LISTING DETAILS
Wyley Brown
Balboa Realty, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6198196
Last Updated: 03/06/2021
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.

BESbswy