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1425 E Mineral Road Gilbert, AZ 85234

3 Beds 2 Baths 1,692 sqft Built 1991

$330,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $195.04
  • 2 Days on Market
  • MLS # : 6160477
  • Updated Date : 11/14/2020 at 00:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,692 sqft
  • Baths : 2 full
Listing Agent

Realty One Group

Listing Agent's Description

Beautiful 3 bedroom, 2 bath home in the heart of Gilbert with vaulted ceilings. Recent upgrades include turf grass in front and backyard with putting green, new water heater, new garage door, upgraded faucets and new thermostat. Enjoy the community pool, tennis and basketball courts. Freestone Park is only a few blocks away which boasts a community center, baseball fields and soccer fields. Restaurants, shopping and entertainment is all close by.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Stonecreek

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Stonecreek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9841981

* 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
Patterson Elementary School Primary Regular 584 34 9
Patterson Elementary School Middle Regular 584 34 9
Gilbert High School High Regular 2,470 113 7

Patterson Elementary School

  • Education Level: Primary
  • # of students: 584
  • # of teachers: 34
9
GreatSchools Rating

Patterson Elementary School

  • Education Level: Middle
  • # of students: 584
  • # of teachers: 34
9
GreatSchools Rating

Gilbert High School

  • Education Level: High
  • # of students: 2,470
  • # of teachers: 113
7
GreatSchools Rating
 

$297,000$363,000$330,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$1,218
Property Tax -$194
Property Insurance -$60
HOA -$55
Property Management Fees -$99
CASH FLOW
$14

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.

$330,000

PROJECTED PRICE

$1,640

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.6%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,200

INVESTMENT

$93,200

Down Payment
$82,500
Rehab Estimate
$5,750
Closing Costs
$4,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,218

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,500
Loan Amount $247,500
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$23,664

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,891

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6003$1,6404$1,8745$2,100
$2,100
RENT COMPS ANALYSIS
  • 1425 E Mineral Road Gilbert, AZ 3
    • 3 beds 2 baths ∙ 1,692 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,692 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.97
    •  
  • 1108 E Harbor View Drive Gilbert, AZ 1
    • 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
    •  
  • 1413 E Linda Lane Gilbert, AZ 2
    • 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
    •  
  • 1673 E Laurel Avenue Gilbert, AZ 4
    • 3 beds 2 baths ∙ 1,542 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,542 Sqft ∙ Built 1995
    LEASED 11/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,874
    • $1.22
    •  
  • 1249 E Artesian Way Gilbert, AZ 5
    • 4 beds 2 baths ∙ 1,802 Sqft ∙ Built 1989 4 beds 2 baths ∙ 1,802 Sqft ∙ Built 1989
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.17
    •  
PROPERTY LISTING DETAILS
Sarah Reiner
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6160477
Last Updated: 11/14/2020
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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