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1511 S Cole Drive Gilbert, AZ 85296

4 Beds 2 Baths 2,167 sqft Built 2003

$549,900

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $253.76
  • 3 Days on Market
  • MLS # : 6195280
  • Updated Date : 02/20/2021 at 15:42
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,167 sqft
  • Baths : 2 full
Listing Agent

Exp Realty

Listing Agent's Description

Uber-Unique Ray Ranch Gem! This one-of-a-kind single level residence features a light, bright & open floor plan with 4BR/2BA that is loaded w/ elegant designer touches throughout. This fully-remodeled residence features wood look plank tile throughout, two-tone interior paint, newer complete HVAC & soft water system. In the chef's grade kitchen, you'll find extended length luxury soft close cabinetry, an enormous kitchen island, matte-finished marble countertops, a beautiful backsplash & stainless steel appliances including a wine fridge. Palatial master suite continues the elegance of the home w/ custom shower tiling, dual vanities and an amazing master closet! Low maintenance backyard w/ private sparkling play pool, BBQ station & fire pit makes entertaining a breeze... Welcome Home!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Ray Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $121k358k

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

Neighborhood: Ray Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9161981

* 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
Cooley Middle School Middle Unknown 915 39 NA
Williams Field High School High Regular 1,705 64 7

Cooley Middle School

  • Education Level: Middle
  • # of students: 915
  • # of teachers: 39
NA
GreatSchools Rating

Williams Field High School

  • Education Level: High
  • # of students: 1,705
  • # of teachers: 64
7
GreatSchools Rating
 

$494,910$604,890$549,900

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$1,910
Property Tax -$375
Property Insurance -$69
HOA -$70
Property Management Fees -$99
CASH FLOW
-$594

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.

$549,900

PROJECTED PRICE

$1,930

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.7%
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$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,474

INVESTMENT

$151,474

Down Payment
$137,475
Rehab Estimate
$5,750
Closing Costs
$8,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,910

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $137,475
Loan Amount $412,425
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$851

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,930

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,156

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9303$2,0004$2,2005$2,300
$2,300
RENT COMPS ANALYSIS
  • 1511 S Cole Drive Gilbert, AZ 2
    • 4 beds 2 baths ∙ 2,167 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,167 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $0.89
    •  
  • 1332 S Loback Lane Gilbert, AZ 1
    • 5 beds 3 baths ∙ 2,037 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,037 Sqft ∙ Built 2005
    LEASED 09/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.93
    •  
  • 1551 S Cole Drive Gilbert, AZ 3
    • 3 beds 2 baths ∙ 2,167 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,167 Sqft ∙ Built 2004
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.92
    •  
  • 1697 S Follett Way Gilbert, AZ 4
    • 3 beds 3 baths ∙ 2,084 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,084 Sqft ∙ Built 2020
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.06
    •  
  • 3921 E Megan Street Gilbert, AZ 5
    • 4 beds 3 baths ∙ 2,147 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,147 Sqft ∙ Built 2020
    LEASED 01/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.07
    •  
PROPERTY LISTING DETAILS
Vincent Fiore
Exp Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6195280
Last Updated: 02/20/2021
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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