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1560 S Western Skies Drive Gilbert, AZ 85296

5 Beds 3 Baths 2,740 sqft Built 1998

$560,000

List Price

$2,170

$2K - $2.4K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $204.38
  • 2 Days on Market
  • MLS # : 6179005
  • Updated Date : 01/09/2021 at 22:36
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,740 sqft
  • Baths : 3 full
Listing Agent

Delex Realty

Listing Agent's Description

This home has it all! This floorplan is amazing and well thought out! 5 Bedrooms and 3 full bathrooms on a golfcourse lot! There is a wall of windows that overllooks golfcourse lake with spectacular sunset views! Outdoor living at it's best! Single level home with upgraded ceiling heights and nice open concept floorplan! Huge kitchen w/ 42 inch maple cabinets with a HUGE pantry and plenty of storage.! Private suite with it's own bathroom. This home really shows the pride of ownership. New roof underlayment 2017. This subdivision has playgrounds, golf course and beautiful open areas. Close to San Tan shopping and freeways, Gilbert schools. This gem won't last long!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Gilbert

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Gilbert

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10361987

* 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 Elementary School Primary Regular 612 34 8
South Valley Jr. High School Middle Regular 1,193 53 9
Campo Verde High School High Regular 2,094 86 8

Mesquite Elementary School

  • Education Level: Primary
  • # of students: 612
  • # of teachers: 34
8
GreatSchools Rating

South Valley Jr. High School

  • Education Level: Middle
  • # of students: 1,193
  • # of teachers: 53
9
GreatSchools Rating

Campo Verde High School

  • Education Level: High
  • # of students: 2,094
  • # of teachers: 86
8
GreatSchools Rating
 

$504,000$616,000$560,000

PURCHASE PRICE

$1,953$2,387$2,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,170
EXPENSES Loan Payment -$1,945
Property Tax -$329
Property Insurance -$81
HOA -$9
Property Management Fees -$99
CASH FLOW
-$293

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.

$560,000

PROJECTED PRICE

$2,170

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.0%
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-$5.0k$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$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$154,150

INVESTMENT

$154,150

Down Payment
$140,000
Rehab Estimate
$5,750
Closing Costs
$8,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,945

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $140,000
Loan Amount $420,000
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$11,670

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,170

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,130

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,1703$2,1954$2,2455$2,500
$2,500
RENT COMPS ANALYSIS
  • 1560 S Western Skies Drive Gilbert, AZ 2
    • 5 beds 3 baths ∙ 2,740 Sqft ∙ Built 1998 5 beds 3 baths ∙ 2,740 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,170
    • $0.79
    •  
  • 2164 S Southwind Drive Gilbert, AZ 1
    • 4 beds 3 baths ∙ 2,493 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,493 Sqft ∙ Built 1999
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.78
    •  
  • 1924 E Bart Street Gilbert, AZ 3
    • 4 beds 3 baths ∙ 2,854 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,854 Sqft ∙ Built 2001
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.77
    •  
  • 1234 E Ivanhoe Court Gilbert, AZ 4
    • 4 beds 3 baths ∙ 2,987 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,987 Sqft ∙ Built 2003
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,245
    • $0.75
    •  
  • 1547 E Erie Street Gilbert, AZ 5
    • 5 beds 3 baths ∙ 3,082 Sqft ∙ Built 1998 5 beds 3 baths ∙ 3,082 Sqft ∙ Built 1998
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.81
    •  
PROPERTY LISTING DETAILS
Vicki Griffin-berglund
Delex Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6179005
Last Updated: 01/09/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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