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1501 E Mineral Road Gilbert, AZ 85234

3 Beds 3 Baths 1,508 sqft Built 1990

$359,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $238.06
  • 2 Days on Market
  • MLS # : 6170124
  • Updated Date : 12/11/2020 at 19:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,508 sqft
  • Baths : 2 full , 1 half
Listing Agent

North & Co

Listing Agent's Description

This adorable property sits on one of the largest lots in the neighborhood and has direct access to the walking path to Freestone Park. This home has been tastefully updated and is ready for immediate move in. This perfect floor plan boasts the owner's suite downstairs with direct access to the amazing shaded patio. With tons of storage, open floor plan and spacious 2 car garage, this home is perfect for any buyer.

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
 

$323,100$394,900$359,000

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 -$1,325
Property Tax -$211
Property Insurance -$57
HOA -$18
Property Management Fees -$99
CASH FLOW
-$10

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.

$359,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.6%
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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$100,885

INVESTMENT

$100,885

Down Payment
$89,750
Rehab Estimate
$5,750
Closing Costs
$5,385

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,325

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $89,750
Loan Amount $269,250
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$24,214

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,700

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,6003$1,6754$1,6955$1,874
$1,874
RENT COMPS ANALYSIS
  • 1501 E Mineral Road Gilbert, AZ 1
    • 3 beds 3 baths ∙ 1,508 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,508 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1413 E Linda Lane Gilbert, AZ 2
    • 3 beds 2 baths ∙ 1,549 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,549 Sqft ∙ Built 1994
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.03
    •  
  • 1362 E Cullumber Street Gilbert, AZ 3
    • 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1995
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.16
    •  
  • 1739 E Olive Avenue Gilbert, AZ 4
    • 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
    •  
  • 1673 E Laurel Avenue Gilbert, AZ 5
    • 3 beds 2 baths ∙ 1,542 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,542 Sqft ∙ Built 1995
    LEASED 11/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,874
    • $1.22
    •  
PROPERTY LISTING DETAILS
Ryan Martin
North & Co
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6170124
Last Updated: 12/11/2020
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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