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1575 E Black Diamond Drive Gilbert, AZ 85296

4 Beds 2 Baths 1,925 sqft Built 1996

$375,000

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $194.81
  • 5 Days on Market
  • MLS # : 6180134
  • Updated Date : 01/14/2021 at 17:24
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,925 sqft
  • Baths : 2 full
Listing Agent

Jk Realty

Listing Agent's Description

This lovely home is located on a North South lot, backing to the 12th Tee of Western Skies Golf Course. The landscape gives you views of the golf course but also provides some privacy. The home features multiple living spaces and eating areas. The Kitchen is open and and has a great island. Original owner has just had most of the inside and ALL of the outside painted. Newer AC. This house is barely used. Owner spent many of the years traveling or out of country.

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
 

$337,500$412,500$375,000

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$1,303
Property Tax -$221
Property Insurance -$65
HOA -$11
Property Management Fees -$99
CASH FLOW
$73

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.

$375,000

PROJECTED PRICE

$1,770

PROJECTED RENT

0.47%

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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,303

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$27,721

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
  • $1,853

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,7753$1,7954$1,8505$2,000
$2,000
RENT COMPS ANALYSIS
  • 1575 E Black Diamond Drive Gilbert, AZ 1
    • 4 beds 2 baths ∙ 1,925 Sqft ∙ Built 1996 4 beds 2 baths ∙ 1,925 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1054 E Jasper Drive Gilbert, AZ 2
    • 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 1997
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.95
    •  
  • 1142 E San Tan Drive Gilbert, AZ 3
    • 4 beds 3 baths ∙ 2,041 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,041 Sqft ∙ Built 1999
    LEASED 02/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.88
    •  
  • 1038 S Roca Street Gilbert, AZ 4
    • 3 beds 2 baths ∙ 1,888 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,888 Sqft ∙ Built 2000
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.98
    •  
  • 1506 E Sunrise Way Gilbert, AZ 5
    • 4 beds 2 baths ∙ 1,925 Sqft ∙ Built 1996 4 beds 2 baths ∙ 1,925 Sqft ∙ Built 1996
    LEASED 03/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.04
    •  
PROPERTY LISTING DETAILS
Jason Todd
Jk Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6180134
Last Updated: 01/14/2021
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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