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1525 W Lobster Trap Drive Gilbert, AZ 85233

2 Beds 2 Baths 1,284 sqft Built 1987

$329,900

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $256.93
  • 2 Days on Market
  • MLS # : 6170612
  • Updated Date : 12/12/2020 at 10:51
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,284 sqft
  • Baths : 2 full
Listing Agent

Sgi Property Mngmnt/real Estate

Listing Agent's Description

Amazing home in Harbor Cove at the Islands! Completely updated throughout including bathrooms, & kitchen, fresh paint & new carpet. Open floor plan with great room w/vaulted ceilings and dramatic floor to ceiling stone fireplace. Living room overlooks a large sitting backyard w/view fencing & walking area w/no neighbors behind. Beautiful 16in diagonal tile in walkways, kitchen & bathroom. Eat in kitchen has a lot of storage & double door pantry. Large master bedroom w/sliding glass door to backyard. Classy Closet organizers in both bedrooms. AZ reflective window tint, sunscreens. Community includes pool/spa & jogging trails with access to the lake. A must see.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: The Islands

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $122k367k

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

Neighborhood: The Islands

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10201981

* 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
Shumway Elementary School Primary Regular 535 34 5
Willis Junior High School Middle Regular 947 51 6
Chandler High School High Regular 3,176 153 5

Shumway Elementary School

  • Education Level: Primary
  • # of students: 535
  • # of teachers: 34
5
GreatSchools Rating

Willis Junior High School

  • Education Level: Middle
  • # of students: 947
  • # of teachers: 51
6
GreatSchools Rating

Chandler High School

  • Education Level: High
  • # of students: 3,176
  • # of teachers: 153
5
GreatSchools Rating
 

$296,910$362,890$329,900

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$1,217
Property Tax -$209
Property Insurance -$52
HOA -$18
Property Management Fees -$99
CASH FLOW
-$105

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.

$329,900

PROJECTED PRICE

$1,490

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 7.3%
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$93,174

INVESTMENT

$93,174

Down Payment
$82,475
Rehab Estimate
$5,750
Closing Costs
$4,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,217

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,475
Loan Amount $247,425
See What Happens When You Reinvest Cash Flow

3.83

YEARS SAVED

$13,839

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
  • $1,355

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,2503$1,2504$1,3955$1,400
$1,400
RENT COMPS ANALYSIS
  • 1525 W Lobster Trap Drive Gilbert, AZ 1
    • 2 beds 2 baths ∙ 1,284 Sqft ∙ Built 1987 2 beds 2 baths ∙ 1,284 Sqft ∙ Built 1987
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1600 N Saba Street #119 Chandler, AZ 2
    • 2 beds 2 baths ∙ 1,200 Sqft ∙ Built 1984 2 beds 2 baths ∙ 1,200 Sqft ∙ Built 1984
    property image
    LEASED 08/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.04
    •  
  • 1601 N Saba Street #332 Chandler, AZ 3
    • 2 beds 2 baths ∙ 1,200 Sqft ∙ Built 1985 2 beds 2 baths ∙ 1,200 Sqft ∙ Built 1985
    property image
    LEASED 12/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.04
    •  
  • 1056 W Sunward Drive Gilbert, AZ 4
    • 2 beds 2 baths ∙ 1,262 Sqft ∙ Built 1986 2 beds 2 baths ∙ 1,262 Sqft ∙ Built 1986
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.11
    •  
  • 955 E Knox Road #251 Chandler, AZ 5
    • 2 beds 2 baths ∙ 1,360 Sqft ∙ Built 2006 2 beds 2 baths ∙ 1,360 Sqft ∙ Built 2006
    property image
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.03
    •  
PROPERTY LISTING DETAILS
Rebekah Delerme
Sgi Property Mngmnt/real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6170612
Last Updated: 12/12/2020
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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