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1418 W Emerald Key Court Gilbert, AZ 85233

3 Beds 3 Baths 2,798 sqft Built 1986

$650,000

List Price

$2,480

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $232.31
  • 3 Days on Market
  • MLS # : 6167989
  • Updated Date : 12/05/2020 at 12:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,798 sqft
  • Baths : 3 full
Listing Agent

The Manz Group

Listing Agent's Description

LAKE FRONT HOME in Cul-de-sac!! This is a 2800 sq. foot home with a pool!! Beautiful location on the point with 3 lake channels views in the sought-after ''Island'' community In Gilbert. There are 2 master suits, an additional setting room area, and have amazing lake views!! Master is one wing of the home, split, with 2 exits to the pool, lake and patio area!! Awesome backyard with incredible views, cover patio, boat dock, artificial grass, mature landscaping. Kitchen has granite, lots of counter space, gas cook top, duel ovens, stainless appliances and lots of cabinets. Eat in kitchen with great views!! Formal living/dining room, huge family room, 2-way fireplace, 2 upgraded 16 seer AC units, great community, walking, biking, volleyball and a lot more!!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: The Islands

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $122k367k

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

Neighborhood: The Islands

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10201981

* 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
Islands Elementary School Primary Regular 598 39 7
Islands Elementary School Middle Regular 598 39 7
Mesquite High School High Regular 2,000 82 6

Islands Elementary School

  • Education Level: Primary
  • # of students: 598
  • # of teachers: 39
7
GreatSchools Rating

Islands Elementary School

  • Education Level: Middle
  • # of students: 598
  • # of teachers: 39
7
GreatSchools Rating

Mesquite High School

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

$585,000$715,000$650,000

PURCHASE PRICE

$2,232$2,728$2,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,480
EXPENSES Loan Payment -$2,398
Property Tax -$382
Property Insurance -$82
HOA -$8
Property Management Fees -$99
CASH FLOW
-$490

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.

$650,000

PROJECTED PRICE

$2,480

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 7.3%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$178,000

INVESTMENT

$178,000

Down Payment
$162,500
Rehab Estimate
$5,750
Closing Costs
$9,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,398

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $162,500
Loan Amount $487,500
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$9,371

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
  • $2,770

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,2003$2,6004$2,6955$2,950
$2,950
RENT COMPS ANALYSIS
  • 1418 W Emerald Key Court Gilbert, AZ 1
    • 3 beds 3 baths ∙ 2,798 Sqft ∙ Built 1986 3 beds 3 baths ∙ 2,798 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1228 W Bruce Avenue Gilbert, AZ 2
    • 4 beds 2 baths ∙ 2,518 Sqft ∙ Built 1994 4 beds 2 baths ∙ 2,518 Sqft ∙ Built 1994
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.87
    •  
  • 1357 W Straford Avenue Gilbert, AZ 3
    • 4 beds 3 baths ∙ 2,518 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,518 Sqft ∙ Built 1995
    LEASED 06/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.03
    •  
  • 1426 W Key Largo Court Gilbert, AZ 4
    • 4 beds 3 baths ∙ 2,740 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,740 Sqft ∙ Built 1986
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.98
    •  
  • 773 S Ocean Drive Gilbert, AZ 5
    • 4 beds 3 baths ∙ 2,719 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,719 Sqft ∙ Built 1994
    LEASED 04/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.08
    •  
PROPERTY LISTING DETAILS
Larry Manzanarez
The Manz Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6167989
Last Updated: 12/05/2020
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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