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1361 S Swallow Lane Gilbert, AZ 85296

4 Beds 3 Baths 2,035 sqft Built 2004

INVESTimate

$340,000

List Price

$1,700

$1,530 - $1,870

Rent Est.

$355,742  ( +4.63%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $167.08
  • 6 Days on Market
  • MLS # : 6120729
  • Updated Date : 08/24/2020 at 09:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,035 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Integrity First

Listing Agent's Description

Beautiful home in a highly desirable Gilbert neighborhood with 7kw owned solar! This 4 bedroom, 2.5 bathroom home features granite countertops and maple cabinets, two car garage, living room, formal dining room, and family room. A beautiful park is located right outside your front door and this community features 3 community pools, 11 parks, basketball courts, volleyball courts, & greenbelts throughout the development. The subdivision has easy access to the San Tan Freeway, San Tan Mall Area, Phoenix-Mesa Gateway Airport, and is only a short distance from the I-60. It's difficult to find homes at this price point so act fast before this home is gone.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Gardens

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $107k337k

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

Neighborhood: Gardens

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9261866

* 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
Gateway Pointe Elementary School Primary Regular 755 36 7
Gateway Pointe Elementary School Middle Regular 755 36 7
Williams Field High School High Regular 1,705 64 7

Gateway Pointe Elementary School

  • Education Level: Primary
  • # of students: 755
  • # of teachers: 36
7
GreatSchools Rating

Gateway Pointe Elementary School

  • Education Level: Middle
  • # of students: 755
  • # of teachers: 36
7
GreatSchools Rating

Williams Field High School

  • Education Level: High
  • # of students: 1,705
  • # of teachers: 64
7
GreatSchools Rating
 

$306,000$374,000$340,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,254
Property Tax -$232
Property Insurance -$67
HOA -$58
Property Management Fees -$99
CASH FLOW
-$10

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$340,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 4.63%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$23,238

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
  • $1,837

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,5993$1,6004$1,8005$1,900
$1,900
RENT COMPS ANALYSIS
  • 1361 S Swallow Lane Gilbert, 1
    • 4 beds 3 baths ∙ 2,035 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,035 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1354 S Longspur Lane Gilbert, 2
    • 3 beds 3 baths ∙ 1,874 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,874 Sqft ∙ Built 2003
    LEASED 11/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $0.85
    •  
  • 1069 S Hawk Lane Gilbert, 3
    • 4 beds 3 baths ∙ 2,036 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,036 Sqft ∙ Built 2010
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.79
    •  
  • 4163 E Windsor Drive Gilbert, 4
    • 3 beds 3 baths ∙ 1,874 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,874 Sqft ∙ Built 2004
    LEASED 10/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.96
    •  
  • 4139 E Windsor Drive Gilbert, 5
    • 3 beds 3 baths ∙ 1,874 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,874 Sqft ∙ Built 2004
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.01
    •  
PROPERTY LISTING DETAILS
Jed A Gray
Keller Williams Integrity First
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6120729
Last Updated: 08/24/2020
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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