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1492 N Rochester Drive Gilbert, AZ 85234

4 Beds 2 Baths 1,910 sqft Built 1999

$409,900

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $214.61
  • 2 Days on Market
  • MLS # : 6203467
  • Updated Date : 03/07/2021 at 03:36
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,910 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathaway Homeservices Arizona Properties

Listing Agent's Description

Incredible single story home centrally located in super location of Gilbert near shopping, dining, hospital, freeway, Riparian preserve, and so much more. This home features 3 bedroom PLUS DEN (could be 4th bedroom) and is a split floor plan. Upgrades throughout including travertine, shutters, crown molding, new lighting throughout, upgraded baseboards, and surround sound. Kitchen is upgraded with beautiful granite, stainless appliances, and upgraded cabinets. Both master and secondary bath feature granite counters. This resort like backyard features a covered patio, built in BBQ island, tons of travertine, recessed sitting area and fire pit, artificial turf, in ground trampoline, large side yard covered with pavers, and additional seating with pergola. Lush and mature landscaping!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Gilbert

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Gilbert

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10361987

* 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
Highland Jr High School Middle Regular 1,269 59 8
Highland High School High Regular 3,065 123 8
Highland Jr High School Middle Unknown NA

Highland Jr High School

  • Education Level: Middle
  • # of students: 1,269
  • # of teachers: 59
8
GreatSchools Rating

Highland High School

  • Education Level: High
  • # of students: 3,065
  • # of teachers: 123
8
GreatSchools Rating

Highland Jr High School

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

$368,910$450,890$409,900

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,424
Property Tax -$243
Property Insurance -$64
HOA -$159
Property Management Fees -$99
CASH FLOW
-$289

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.

$409,900

PROJECTED PRICE

$1,700

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.0%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$114,374

INVESTMENT

$114,374

Down Payment
$102,475
Rehab Estimate
$5,750
Closing Costs
$6,149

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,424

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $102,475
Loan Amount $307,425
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$4,040

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,886

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7003$1,7954$1,7955$1,999
$1,999
RENT COMPS ANALYSIS
  • 1492 N Rochester Drive Gilbert, AZ 2
    • 4 beds 2 baths ∙ 1,910 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,910 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.89
    •  
  • 1580 N Racine Court Gilbert, AZ 1
    • 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1999
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.92
    •  
  • 3285 E Ford Avenue Gilbert, AZ 3
    • 5 beds 2 baths ∙ 1,987 Sqft ∙ Built 2001 5 beds 2 baths ∙ 1,987 Sqft ∙ Built 2001
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.90
    •  
  • 3532 E Melody Lane Gilbert, AZ 4
    • 3 beds 3 baths ∙ 1,726 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,726 Sqft ∙ Built 2007
    LEASED 02/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.04
    •  
  • 2709 E Michelle Way Gilbert, AZ 5
    • 3 beds 2 baths ∙ 1,840 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,840 Sqft ∙ Built 2001
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,999
    • $1.09
    •  
PROPERTY LISTING DETAILS
Michelle Mazzola
Berkshire Hathaway Homeservices Arizona Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6203467
Last Updated: 03/07/2021
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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