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1476 E Comstock Drive Gilbert, AZ 85296

4 Beds 3 Baths 2,039 sqft Built 1995

$425,000

List Price

$2,020

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 25, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $208.44
  • 3 Days on Market
  • MLS # : 6168694
  • Updated Date : 12/24/2020 at 18:02
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,039 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty Sonoran Living

Listing Agent's Description

Welcome home to this amazing home in Val Vista just minutes from the park, Gilbert High School,Mesquite ElementarySchool, shopping, dining and all the best features of Gilbert. From the minute you walk into this home you can see pride of ownership. The home features a formal living room/dining room, kitchen open to Family room with lots of light looking out to the backyard with sparkling pool and covered patio. You will fall in love with the master suite and its soaring ceilings, balcony that overlooks the backyard and spa like bathroom that was just updated in 2020. What are you waiting for, come and take a look, fall in love and make this beautiful house your next home.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Val Vista

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Val Vista

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10362074

* 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
Mesquite Elementary School Primary Regular 612 34 8
Greenfield Junior High School Middle Regular 917 44 9
Gilbert High School High Regular 2,470 113 7

Mesquite Elementary School

  • Education Level: Primary
  • # of students: 612
  • # of teachers: 34
8
GreatSchools Rating

Greenfield Junior High School

  • Education Level: Middle
  • # of students: 917
  • # of teachers: 44
9
GreatSchools Rating

Gilbert High School

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

$382,500$467,500$425,000

PURCHASE PRICE

$1,818$2,222$2,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,020
EXPENSES Loan Payment -$1,568
Property Tax -$250
Property Insurance -$67
HOA -$13
Property Management Fees -$99
CASH FLOW
$23

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.

$425,000

PROJECTED PRICE

$2,020

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 7.1%
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$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$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,568

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$32,050

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,020

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $2,003

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9753$1,9954$2,0205$2,199
$2,199
RENT COMPS ANALYSIS
  • 1476 E Comstock Drive Gilbert, AZ 4
    • 4 beds 3 baths ∙ 2,039 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,039 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $2,020
    • $0.99
    •  
  • 1520 E Park Avenue Gilbert, AZ 1
    • 3 beds 2 baths ∙ 2,004 Sqft ∙ Built 1994 3 beds 2 baths ∙ 2,004 Sqft ∙ Built 1994
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.92
    •  
  • 1694 E Cotton Court Gilbert, AZ 2
    • 4 beds 3 baths ∙ 2,054 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,054 Sqft ∙ Built 2001
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.96
    •  
  • 34 S Sandstone Street Gilbert, AZ 3
    • 4 beds 3 baths ∙ 2,039 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,039 Sqft ∙ Built 1994
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.98
    •  
  • 1233 E Washington Avenue Gilbert, AZ 5
    • 4 beds 3 baths ∙ 2,050 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,050 Sqft ∙ Built 1998
    LEASED 11/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,199
    • $1.07
    •  
PROPERTY LISTING DETAILS
Barbara Woyak
Keller Williams Realty Sonoran Living
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6168694
Last Updated: 12/24/2020
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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