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1365 S Spartan Street Gilbert, AZ 85233

5 Beds 3 Baths 3,009 sqft Built 1997

INVESTimate

$489,000

List Price

$2,200

$1,980 - $2,420

Rent Est.

$520,736  ( +6.49%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1997
  • Price/Sqft : $162.51
  • 6 Days on Market
  • MLS # : 6120905
  • Updated Date : 08/21/2020 at 18:01
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,009 sqft
  • Baths : 3 full
Listing Agent

Realty Executives

Listing Agent's Description

GORGEOUS GILBERT HOME* 3009 SQ FT* 5 BEDROOMS* 3 BATHROOMS* 3 CAR GARAGE* LARGE CUL DE SAC LOT* HOME HAS A GUEST DOWNSTAIRS BEDROOM WITH A FULL BATHROOM* ALL WHITE KITCHEN CABINETS* ALL STAINLESS STEEL KITCHEN APPLIANCES* KITCHEN ISLAND* VAULTED CEILINGS* WOOD BURNING FIREPLACE IN COZY FAMILY ROOM* LARGE MASTER UPSTAIRS BEDROOM & WALK IN CLOSET* MASTER BATHROOM HAS DOUBLE SINKS, GARDEN TUB AND SHOWER* FULL LENGTH BACK PATIO WITH A MISTER SYSTEM* SPORTS COURT WITH PAVERS IN BACKYARD* LARGE GREEN GRASS BACKYARD READY FOR YOUR NEW POOL* SECURITY SYSTEM* GREAT LOCATION* CLOSE TO GILBERT TOWN SQUARE* GILBERT CIVIC CENTER* LOTS OF GREAT RESTAURANTS* SHOPPING* SCHOOLS* GOLF* AND MUCH MORE* FANTASTIC HOME!!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Dave Brown Millett Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Dave Brown Millett Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9731981

* 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
Settlers Point Elementary School Primary Regular 638 38 8
South Valley Jr. High School Middle Regular 1,193 53 9
Mesquite High School High Regular 2,000 82 6

Settlers Point Elementary School

  • Education Level: Primary
  • # of students: 638
  • # of teachers: 38
8
GreatSchools Rating

South Valley Jr. High School

  • Education Level: Middle
  • # of students: 1,193
  • # of teachers: 53
9
GreatSchools Rating

Mesquite High School

  • Education Level: High
  • # of students: 2,000
  • # of teachers: 82
6
GreatSchools Rating
 

$440,100$537,900$489,000

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

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-$5.0k$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$1.4M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$1,804
Property Tax -$288
Property Insurance -$86
HOA -$56
Property Management Fees -$99
CASH FLOW
-$133

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.

$489,000

PROJECTED PRICE

$2,200

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.49%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$135,335

INVESTMENT

$135,335

Down Payment
$122,250
Rehab Estimate
$5,750
Closing Costs
$7,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,804

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $122,250
Loan Amount $366,750
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$21,854

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
  • $2,309

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,1953$2,2004$2,3955$2,395
$2,395
RENT COMPS ANALYSIS
  • 1365 S Spartan Street Gilbert, 1
    • 5 beds 3 baths ∙ 3,009 Sqft ∙ Built 1997 5 beds 3 baths ∙ 3,009 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2912 E Galveston Street Chandler, 2
    • 4 beds 3 baths ∙ 2,899 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,899 Sqft ∙ Built 2008
    property image
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.76
    •  
  • 353 W Dublin Street Gilbert, 3
    • 4 beds 3 baths ∙ 2,682 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,682 Sqft ∙ Built 1998
    property image
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.82
    •  
  • 454 E Baylor Lane Gilbert, 4
    • 4 beds 3 baths ∙ 3,321 Sqft ∙ Built 1997 4 beds 3 baths ∙ 3,321 Sqft ∙ Built 1997
    property image
    LEASED 04/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.72
    •  
  • 533 N Kimberlee Way Chandler, 5
    • 5 beds 3 baths ∙ 3,097 Sqft ∙ Built 1999 5 beds 3 baths ∙ 3,097 Sqft ∙ Built 1999
    property image
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.77
    •  
PROPERTY LISTING DETAILS
Steve Williams
Realty Executives
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6120905
Last Updated: 08/21/2020
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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