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1426 E Clark Drive Gilbert, AZ 85297

4 Beds 3 Baths 2,350 sqft Built 2004

$440,000

List Price

$2,050

$1.8K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $187.23
  • 4 Days on Market
  • MLS # : 6202142
  • Updated Date : 03/04/2021 at 16:28
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,350 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group

Listing Agent's Description

THIS HOME IS FABULOUS! UPDATED AND ON A VIEW LOT WITH A SPLIT FLOOR PLAN. THE HOME HAS 4 BEDROOM, 2.5 BATHS WITH VAULTED CEILINGS,FAMILY ROOM AND LARGE GREAT ROOM THAT IS OPEN TO THE KITCHEN. THE KITCHEN HAS BEAUTIFUL SLAB GRANITE COUNTERS, UPGRADED CABINETS,STAINLESS APPLIANCES, LARGE ISLAND PERFECT FOR ENTERTAINING AND A PANTRY. THE LARGE MASTER SUITE IS DOWNSTAIRS AND INCLUDES DOUBLE SINKS, SEPARATE GARDEN TUB AND SHOWER, LARGE WALK-IN CLOSET AND PRIVATE TOILET ROOM. THE HOME IS FRESLY PAINTED AND HAS NEW CARPET. THERE IS ALSO LOTS OF STORAGE SPACE IN THE MODERN GARAGE CABINETS. IT EVEN HAS A DOG RUN IN THE BACK YARD. NORTH SOUTH EXPOSURE AND LOCATED ON THE GREENBELT SO NO NEIGHBORS BEHIND YOU! SCHEDULE A SHOWING TODAY!

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PRICE & RENT TRENDS

Neighborhood: Vista del Oro North

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Vista del Oro North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10361981

* 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
Payne Junior High School Middle Regular 1,518 70 9
Perry High School High Regular 3,194 142 7
Perry High School High Unknown NA

Payne Junior High School

  • Education Level: Middle
  • # of students: 1,518
  • # of teachers: 70
9
GreatSchools Rating

Perry High School

  • Education Level: High
  • # of students: 3,194
  • # of teachers: 142
7
GreatSchools Rating

Perry High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$396,000$484,000$440,000

PURCHASE PRICE

$1,845$2,255$2,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,050
EXPENSES Loan Payment -$1,528
Property Tax -$308
Property Insurance -$73
HOA -$22
Property Management Fees -$99
CASH FLOW
$19

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.

$440,000

PROJECTED PRICE

$2,050

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.2%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$122,350

INVESTMENT

$122,350

Down Payment
$110,000
Rehab Estimate
$5,750
Closing Costs
$6,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,528

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $110,000
Loan Amount $330,000
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$25,824

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,050

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,274

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$2,050
1$2,0502$2,1953$2,2504$2,3255$2,395
$2,395
RENT COMPS ANALYSIS
  • 1426 E Clark Drive Gilbert, AZ 1
    • 4 beds 3 baths ∙ 2,350 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,350 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.87
    •  
  • 1151 E Furness Drive Gilbert, AZ 2
    • 4 beds 2 baths ∙ 2,324 Sqft ∙ Built 2012 4 beds 2 baths ∙ 2,324 Sqft ∙ Built 2012
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.94
    •  
  • 1454 E Hummingbird Way Gilbert, AZ 3
    • 5 beds 3 baths ∙ 2,402 Sqft ∙ Built 2012 5 beds 3 baths ∙ 2,402 Sqft ∙ Built 2012
    LEASED 01/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.94
    •  
  • 1263 E Walnut Road Gilbert, AZ 4
    • 4 beds 3 baths ∙ 2,418 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,418 Sqft ∙ Built 2005
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,325
    • $0.96
    •  
  • 4240 S Summit Street Gilbert, AZ 5
    • 4 beds 3 baths ∙ 2,320 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,320 Sqft ∙ Built 2005
    LEASED 09/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.03
    •  
PROPERTY LISTING DETAILS
Sheryl L Del Col
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6202142
Last Updated: 03/04/2021
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. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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