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

1384 N Quail Lane Gilbert, AZ 85233

3 Beds 2 Baths 2,443 sqft Built 1996

$500,000

List Price

$2,110

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 29, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $204.67
  • 1 Days on Market
  • MLS # : 6165684
  • Updated Date : 11/28/2020 at 21:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,443 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

Don't miss this beautifully updated home in the heart of Gilbert! Updates include NEW wood-look ceramic tile throughout, NEW LED recessed lighting, and NEW interior paint! Kitchen features all NEW appliances, newly painted cabinets, and there are sparkling white quartz counters in the kitchen AND the bathrooms! Home also features a formal living and dining space, bright and open family room with fireplace, and sizeable guest rooms. Spacious master suite includes HUGE walk-in closet, dual vanities and NEW shower and tub surround. Sparkling pool, large covered patio and 3 car garage round out this incredible home. Fantastic location just minutes from the US-60, 101 and 202 freeways, and close to plenty of retail, restaurants, parks, golf and Water Tower Plaza!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Stonehenge

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $122k423k

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

Neighborhood: Stonehenge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10362164

* 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
Oak Tree Elementary School Primary Regular 675 40 6
Oak Tree Elementary School Middle Regular 675 40 6
Mesquite High School High Regular 2,000 82 6

Oak Tree Elementary School

  • Education Level: Primary
  • # of students: 675
  • # of teachers: 40
6
GreatSchools Rating

Oak Tree Elementary School

  • Education Level: Middle
  • # of students: 675
  • # of teachers: 40
6
GreatSchools Rating

Mesquite High School

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

$450,000$550,000$500,000

PURCHASE PRICE

$1,899$2,321$2,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,110
EXPENSES Loan Payment -$1,845
Property Tax -$294
Property Insurance -$75
HOA -$17
Property Management Fees -$99
CASH FLOW
-$220

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.

$500,000

PROJECTED PRICE

$2,110

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.7%
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-$5.0k$0.0$5.0k$10k$15k

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$138,250

INVESTMENT

$138,250

Down Payment
$125,000
Rehab Estimate
$5,750
Closing Costs
$7,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,845

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $125,000
Loan Amount $375,000
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$16,672

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
  • $2,241

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,2503$2,2954$2,3005$2,450
$2,450
RENT COMPS ANALYSIS
  • 1384 N Quail Lane Gilbert, AZ 1
    • 3 beds 2 baths ∙ 2,443 Sqft ∙ Built 1996 3 beds 2 baths ∙ 2,443 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 908 W Juanita Avenue Gilbert, AZ 2
    • 4 beds 3 baths ∙ 2,426 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,426 Sqft ∙ Built 1994
    LEASED 08/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.93
    •  
  • 396 W Gary Avenue Gilbert, AZ 3
    • 4 beds 3 baths ∙ 2,647 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,647 Sqft ∙ Built 1997
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.87
    •  
  • 1465 N Quail Lane Gilbert, AZ 4
    • 4 beds 3 baths ∙ 2,647 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,647 Sqft ∙ Built 1996
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.87
    •  
  • 732 W Merrill Avenue Gilbert, AZ 5
    • 4 beds 2 baths ∙ 2,443 Sqft ∙ Built 1996 4 beds 2 baths ∙ 2,443 Sqft ∙ Built 1996
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.00
    •  
PROPERTY LISTING DETAILS
Annette Sharp
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6165684
Last Updated: 11/28/2020
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