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1510 E Commerce Avenue Gilbert, AZ 85234

3 Beds 2 Baths 1,383 sqft Built 1987

$379,900

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $274.69
  • 2 Days on Market
  • MLS # : 6206977
  • Updated Date : 03/13/2021 at 17:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,383 sqft
  • Baths : 2 full
Listing Agent

Delex Realty

Listing Agent's Description

Beautiful fully remodeled home. New Laminate Flooring, New Drywall with New Texture Finish throughout. Light Gray Tone Paint, Soft close New Kitchen Cabinets with Quartz Countertops, Stainless Steel Appliances, New L.E.D. Lighting and Ceiling Fans. Complete Electrical Rewiring. New Bathrooms with Quartz Vanity Tops.Master Walk-in Closet, Laundry Room off Kitchen, Roof Insulation, Rock Landscape with Walkway, Irrigation System. New tankless water heater.Exterior paint and New AC unit 1 year old.Bring your Buyers over, this one will not last long.

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
Mesquite Jr High School Middle Regular 715 34 7
Gilbert High School High Regular 2,470 113 7
Mesquite Jr High School Middle Unknown NA

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

Mesquite Jr High School

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

$341,910$417,890$379,900

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$1,320
Property Tax -$223
Property Insurance -$54
HOA -$55
Property Management Fees -$99
CASH FLOW
-$171

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.

$379,900

PROJECTED PRICE

$1,580

PROJECTED RENT

0.42%

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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$106,424

INVESTMENT

$106,424

Down Payment
$94,975
Rehab Estimate
$5,750
Closing Costs
$5,699

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,320

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $94,975
Loan Amount $284,925
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$9,282

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
  • $1,670

    COMP ESTIMATED VALUE
  • $1.21

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,5753$1,5904$1,8005$1,874
$1,874
RENT COMPS ANALYSIS
  • 1510 E Commerce Avenue Gilbert, AZ 1
    • 3 beds 2 baths ∙ 1,383 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,383 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1703 E Tremaine Avenue Gilbert, AZ 2
    • 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1995
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.21
    •  
  • 172 N Rock Street Gilbert, AZ 3
    • 3 beds 2 baths ∙ 1,262 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,262 Sqft ∙ Built 1995
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $1.26
    •  
  • 1918 E Marquette Drive Gilbert, AZ 4
    • 3 beds 2 baths ∙ 1,578 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,578 Sqft ∙ Built 1994
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.14
    •  
  • 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
Tony Charkchyan
Delex Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6206977
Last Updated: 03/13/2021
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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