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

1456 S Colt Drive Gilbert, AZ 85296

3 Beds 3 Baths 1,549 sqft Built 2007

$315,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $203.36
  • 3 Days on Market
  • MLS # : 6165185
  • Updated Date : 11/27/2020 at 15:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,549 sqft
  • Baths : 2 full , 1 half
Listing Agent

Caliber Realty Group, Llc

Listing Agent's Description

Put this one at the top of your list! Located within just minutes of shopping, restaurants, schools, post office, dining, the 202 freeway and so much more!. Former model home boasts upgraded tile, 42'' kitchen cabinets, Corian counter tops and stainless steel appliances. Enjoy the beautiful AZ weather utilizing the oversized balcony, front porch and/or covered patio. Schedule a showing today - this one won't last!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Higley Park

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Higley Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9471981

* 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
Gateway Pointe Elementary School Primary Regular 755 36 7
Gateway Pointe Elementary School Middle Regular 755 36 7
Williams Field High School High Regular 1,705 64 7

Gateway Pointe Elementary School

  • Education Level: Primary
  • # of students: 755
  • # of teachers: 36
7
GreatSchools Rating

Gateway Pointe Elementary School

  • Education Level: Middle
  • # of students: 755
  • # of teachers: 36
7
GreatSchools Rating

Williams Field High School

  • Education Level: High
  • # of students: 1,705
  • # of teachers: 64
7
GreatSchools Rating
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$1,162
Property Tax -$215
Property Insurance -$57
HOA -$25
Property Management Fees -$99
CASH FLOW
$131

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.

$315,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.1%
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$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,162

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$34,920

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $1,688

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,6503$1,6904$1,7305$1,795
$1,795
RENT COMPS ANALYSIS
  • 1456 S Colt Drive Gilbert, AZ 3
    • 3 beds 3 baths ∙ 1,549 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,549 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $1.09
    •  
  • 3344 E Franklin Avenue Gilbert, AZ 1
    • 3 beds 3 baths ∙ 1,488 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,488 Sqft ∙ Built 2008
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.06
    •  
  • 3644 E Orchid Lane Gilbert, AZ 2
    • 3 beds 3 baths ∙ 1,576 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,576 Sqft ∙ Built 2002
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.05
    •  
  • 1380 S Ponderosa Drive Gilbert, AZ 4
    • 3 beds 3 baths ∙ 1,562 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,562 Sqft ∙ Built 2013
    LEASED 07/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $1.11
    •  
  • 1498 S Colt Drive Gilbert, AZ 5
    • 3 beds 3 baths ∙ 1,576 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,576 Sqft ∙ Built 2013
    LEASED 09/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.14
    •  
PROPERTY LISTING DETAILS
Jennifer Bouchal
Caliber Realty Group, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6165185
Last Updated: 11/27/2020
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