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PROPERTY INFO
FACTS
- Single Family
- Built In 1998
- Price/Sqft : $231.71
- 5 Days on Market
- MLS # : 6164573
- Updated Date : 11/24/2020 at 18:50
CONSTRUCTION
- Beds : 3
- Floor Size : 1,640 sqft
- Baths : 2 full
Listing Agent
Brokers Only, Llc
Listing Agent's Description
This is wonderful 1 story 1640 square foot single family home for sale in a beautiful neighborhood. This home is located at Gilbert Road and Ray Roadat Millet Ranch. Perfect to live in or as an investment home. It has 3 bedrooms, 2 full bathrooms, full kitchen, 2 living rooms, 2 car attached garage, pavedcement front driveway and side driveway with gates that lead to a paved cement and pavered backyard. Currently fully occupied by month to month tenantsbut they will move out within 30 days if needed upon sale of property.
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PRICE & RENT TRENDS
Neighborhood: Dave Brown Lamoreaux Farms
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Dave Brown Lamoreaux Farms
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,670 |
| EXPENSES | Loan Payment | -$1,402 |
| Property Tax | -$223 | |
| Property Insurance | -$59 | |
| HOA | -$19 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$132
|
||
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.
$380,000
PROJECTED PRICE
$1,670
PROJECTED RENT
0.44%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.17% |
| Appreciation Year (1-5) | 5.2% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.60% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$106,450
LOAN DETAILS
$1,402
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $95,000 |
| Loan Amount | $285,000 |
3.67
YEARS SAVED
$15,181
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
-
$1,665
COMP ESTIMATED VALUE -
$1.02
COMP AVG. RENT PER SQFT
Comps Range
-
159 W Gail Drive Gilbert, AZ 1
- 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 1998
- Rent
- Rent Per SQFT
- $0
- $0.00
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1427 S Spartan Street Gilbert, AZ 2
- 3 beds 2 baths ∙ 1,548 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,548 Sqft ∙ Built 1999
LEASED 04/18/20- Rent
- Rent Per SQFT
- $1,475
- $0.95
-
39 W Gail Drive Gilbert, AZ 3
- 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 1999
LEASED 12/16/19- Rent
- Rent Per SQFT
- $1,525
- $0.93
-
1529 S Sahuaro Drive Gilbert, AZ 4
- 3 beds 2 baths ∙ 1,464 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,464 Sqft ∙ Built 1998
LEASED 06/02/20- Rent
- Rent Per SQFT
- $1,595
- $1.09
-
1571 S Dove Street Gilbert, AZ 5
- 3 beds 2 baths ∙ 1,548 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,548 Sqft ∙ Built 1999
LEASED 06/15/20- Rent
- Rent Per SQFT
- $1,695
- $1.09
PROPERTY LISTING DETAILS
Brokers Only, Llc
1.866.250.5610
Mynd Property Management
LC664597000
MLS #: 6164573
Last Updated: 11/24/2020
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.
