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1463 E Redfield Road Gilbert, AZ 85234

4 Beds 2 Baths 1,642 sqft Built 1992

INVESTimate

$355,000

List Price

$1,690

$1,521 - $1,859

Rent Est.

$374,703  ( +5.55%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1992
  • Price/Sqft : $216.20
  • 7 Days on Market
  • MLS # : 6119812
  • Updated Date : 08/22/2020 at 19:29
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,642 sqft
  • Baths : 2 full
Listing Agent

Haz Realty, Llc

Listing Agent's Description

Very nice, clean, move in ready home. This 4 bedroom 2 bath home has pride of ownership ( can add closet to office to make 4th bedroom). Open floor plan with separate living and family room. Kitchen features kitchen island, breakfast bar, built in micro wave, stainless steel appliances, bay window, lots of cabinets and over looks family room. Large master bedroom with bay window and nice size walk in closet. Inside laundry room with shelves. Good size backyard with extended covered patio Less the 2 miles to all of the arts, nightlife, restaurants, and activities of downtown Gilbert. Walking distance to Freestone Park and all it has to offer( rec center, playing fields and courts, mini amusement park, fishing and skate park. Subdivision also has a park with community pool .

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
 

$319,500$390,500$355,000

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

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$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$1,310
Property Tax -$209
Property Insurance -$59
HOA -$55
Property Management Fees -$99
CASH FLOW
-$42

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.

$355,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.55%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$99,825

INVESTMENT

$99,825

Down Payment
$88,750
Rehab Estimate
$5,750
Closing Costs
$5,325

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,310

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $88,750
Loan Amount $266,250
See What Happens When You Reinvest Cash Flow

4.83

YEARS SAVED

$20,403

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
  • $1.03

    LIST RENT PER SQFT
  • $1,782

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6903$1,6954$1,8505$1,850
$1,850
RENT COMPS ANALYSIS
  • 1463 E Redfield Road Gilbert, 2
    • 4 beds 2 baths ∙ 1,642 Sqft ∙ Built 1992 4 beds 2 baths ∙ 1,642 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $1.03
    •  
  • 1419 E San Remo Avenue Gilbert, 1
    • 3 beds 2 baths ∙ 1,489 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,489 Sqft ∙ Built 1991
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.07
    •  
  • 1739 E Olive Avenue Gilbert, 3
    • 3 beds 2 baths ∙ 1,542 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,542 Sqft ∙ Built 1995
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.10
    •  
  • 837 N Sailors Way Gilbert, 4
    • 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 1991
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.11
    •  
  • 1232 E Scott Avenue Gilbert, 5
    • 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 1991
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.06
    •  
PROPERTY LISTING DETAILS
Randy S Abdin
Haz Realty, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6119812
Last Updated: 08/22/2020
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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