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1400 E Sierra Madre Avenue Gilbert, AZ 85296

3 Beds 2 Baths 1,655 sqft Built 1995

$369,900

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 1995
  • Price/Sqft : $223.50
  • 4 Days on Market
  • MLS # : 6154253
  • Updated Date : 10/31/2020 at 09:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,655 sqft
  • Baths : 2 full
Listing Agent

Homesmart Lifestyles

Listing Agent's Description

Come see this beautiful home nestled in the desired neighborhood of Gilbert. Located near a large community park and lots of shopping! This home features wood tile throughout, a center island with a breakfast bar. The large master has a walk in closet, separate shower and tub and dual sinks. Walk out to the back where you will find your own private pool, RV gate (10 ft) and a side garage entry. Hurry- it won't last long!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Val Vista

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Val Vista

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10362074

* 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
Mesquite Elementary School Primary Regular 612 34 8
Greenfield Junior High School Middle Regular 917 44 9
Gilbert High School High Regular 2,470 113 7

Mesquite Elementary School

  • Education Level: Primary
  • # of students: 612
  • # of teachers: 34
8
GreatSchools Rating

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
 

$332,910$406,890$369,900

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$1,365
Property Tax -$218
Property Insurance -$59
HOA -$13
Property Management Fees -$99
CASH FLOW
-$203

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.

$369,900

PROJECTED PRICE

$1,550

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 7.1%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,774

INVESTMENT

$103,774

Down Payment
$92,475
Rehab Estimate
$5,750
Closing Costs
$5,549

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,365

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $92,475
Loan Amount $277,425
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$9,877

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,550

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,672

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5953$1,5954$1,6005$1,750
$1,750
RENT COMPS ANALYSIS
  • 1400 E Sierra Madre Avenue Gilbert, AZ 1
    • 3 beds 2 baths ∙ 1,655 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,655 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.94
    •  
  • 1108 E Harbor View Drive Gilbert, AZ 2
    • 3 beds 2 baths ∙ 1,521 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,521 Sqft ∙ Built 1992
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.05
    •  
  • 1768 E Palomino Drive Gilbert, AZ 3
    • 3 beds 2 baths ∙ 1,629 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,629 Sqft ∙ Built 1995
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.98
    •  
  • 1413 E Linda Lane Gilbert, AZ 4
    • 3 beds 2 baths ∙ 1,549 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,549 Sqft ∙ Built 1994
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.03
    •  
  • 1442 E Bruce Avenue Gilbert, AZ 5
    • 4 beds 2 baths ∙ 1,785 Sqft ∙ Built 1994 4 beds 2 baths ∙ 1,785 Sqft ∙ Built 1994
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.98
    •  
PROPERTY LISTING DETAILS
Britney M Thorne
Homesmart Lifestyles
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6154253
Last Updated: 10/31/2020
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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