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1500 N Sunview Parkway #83 Gilbert, AZ 85234

3 Beds 2 Baths 1,342 sqft Built 1985

$245,000

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $182.56
  • 5 Days on Market
  • MLS # : 6182482
  • Updated Date : 01/24/2021 at 03:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,342 sqft
  • Baths : 2 full
Listing Agent

Century 21 Arizona Foothills

Listing Agent's Description

Tenant occupied, please do not disturb. Current lease is month to month. Home features first floor master bedroom, open family/dinning room. Good size corner lot with 2 car garage. Two bedrooms up plus loft area overlooking the living room. Excellent location across from grassy play area and huge community pool. Close to freeway, shopping, and restaurants. Home has not been updated in many, many years. Photos are from 2010

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Sun View Patio Homes

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $75k358k

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

Neighborhood: Sun View Patio Homes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8631981

* 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
Houston Elementary School Primary Regular 482 39 6
Mesquite Jr High School Middle Regular 715 34 7
Gilbert High School High Regular 2,470 113 7

Houston Elementary School

  • Education Level: Primary
  • # of students: 482
  • # of teachers: 39
6
GreatSchools Rating

Mesquite Jr High School

  • Education Level: Middle
  • # of students: 715
  • # of teachers: 34
7
GreatSchools Rating

Gilbert High School

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

$220,500$269,500$245,000

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$851
Property Tax -$144
Property Insurance -$53
HOA -$130
Property Management Fees -$99
CASH FLOW
$293

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.

$245,000

PROJECTED PRICE

$1,570

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.1%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$851

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

11.17

YEARS SAVED

$41,083

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $1,798

    COMP ESTIMATED VALUE
  • $1.34

    COMP AVG. RENT PER SQFT
Comps Range
$1,570
1$1,5702$1,6493$1,7654$1,7955$1,995
$1,995
RENT COMPS ANALYSIS
  • 1500 N Sunview Parkway #83 Gilbert, AZ 1
    • 3 beds 2 baths ∙ 1,342 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,342 Sqft ∙ Built 1985
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $1.17
    •  
  • 232 E Merrill Avenue Gilbert, AZ 2
    • 3 beds 2 baths ∙ 1,172 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,172 Sqft ∙ Built 1983
    property image
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,649
    • $1.41
    •  
  • 1426 N Birch Street Gilbert, AZ 3
    • 3 beds 2 baths ∙ 1,349 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,349 Sqft ∙ Built 1991
    property image
    LEASED 12/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,765
    • $1.31
    •  
  • 1429 N Dana Street Gilbert, AZ 4
    • 3 beds 3 baths ∙ 1,336 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,336 Sqft ∙ Built 1990
    property image
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.34
    •  
  • 421 E San Angelo Avenue Gilbert, AZ 5
    • 3 beds 2 baths ∙ 1,538 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,538 Sqft ∙ Built 1986
    property image
    LEASED 01/31/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.30
    •  
PROPERTY LISTING DETAILS
April Peterson
Century 21 Arizona Foothills
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6182482
Last Updated: 01/24/2021
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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