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1543 S Longspur Lane Gilbert, AZ 85296

3 Beds 3 Baths 1,450 sqft Built 2003

$315,000

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $217.24
  • 4 Days on Market
  • MLS # : 6193098
  • Updated Date : 02/12/2021 at 00:39
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,450 sqft
  • Baths : 2 full , 1 half
Listing Agent

O48 Realty

Listing Agent's Description

Stop searching! Move-in ready two-story home with 2 car garage in highly desirable Gardens Community is now for sale! Step inside to be greeted by a bright and light interior that features neutral paint throughout, cozy living & dining areas, roomy bedrooms, and big windows that bring in natural light. The efficient kitchen boasts ample-white cabinetry, dual sink, and SS appliances needed to prepare your daily meal. Upstairs, you will find a loft perfect for the study/game area. The charming master bedroom includes a walk-in closet and a full bathroom with track lighting and a shower & tub combo. The perfectly sized side yard with a paved patio is great for customization. Great location close to schools, shopping, entertainment, and so much more! Book a showing before it's gone! Call now!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Gardens

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $107k337k

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

Neighborhood: Gardens

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9261866

* 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
 

$283,500$346,500$315,000

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 -$1,094
Property Tax -$215
Property Insurance -$55
HOA -$107
Property Management Fees -$99
CASH FLOW
-$81

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$315,000

PROJECTED PRICE

$1,490

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 4.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
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-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,094

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$11,598

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,483

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4503$1,4904$1,5005$1,650
$1,650
RENT COMPS ANALYSIS
  • 1543 S Longspur Lane Gilbert, AZ 3
    • 3 beds 3 baths ∙ 1,450 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,450 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $1.03
    •  
  • 1531 S Avocet Street Gilbert, AZ 1
    • 3 beds 3 baths ∙ 1,375 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,375 Sqft ∙ Built 2003
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.01
    •  
  • 4180 E Megan Court Gilbert, AZ 2
    • 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 2001
    LEASED 06/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.00
    •  
  • 4081 E Windsor Drive Gilbert, AZ 4
    • 3 beds 2 baths ∙ 1,463 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,463 Sqft ∙ Built 2006
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.03
    •  
  • 4099 E Jasper Drive Gilbert, AZ 5
    • 3 beds 3 baths ∙ 1,576 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,576 Sqft ∙ Built 2005
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.05
    •  
PROPERTY LISTING DETAILS
Shane Anderson
O48 Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6193098
Last Updated: 02/12/2021
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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