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159 W Gail Drive Gilbert, AZ 85233

3 Beds 2 Baths 1,640 sqft Built 1998

$380,000

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 25, 2020 RECENTLY ADDED
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

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Dave Brown Lamoreaux Farms

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9261981

* 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
Settlers Point Elementary School Primary Regular 638 38 8
South Valley Jr. High School Middle Regular 1,193 53 9
Mesquite High School High Regular 2,000 82 6

Settlers Point Elementary School

  • Education Level: Primary
  • # of students: 638
  • # of teachers: 38
8
GreatSchools Rating

South Valley Jr. High School

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

Mesquite High School

  • Education Level: High
  • # of students: 2,000
  • # of teachers: 82
6
GreatSchools Rating
 

$342,000$418,000$380,000

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k$1.0M

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,450

INVESTMENT

$106,450

Down Payment
$95,000
Rehab Estimate
$5,750
Closing Costs
$5,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,402

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $95,000
Loan Amount $285,000
See What Happens When You Reinvest Cash Flow

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
$0
1$02$1,4753$1,5254$1,5955$1,695
$1,695
RENT COMPS ANALYSIS
  • 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
    •  
  • 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
Alayna E Kowaleski
Brokers Only, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6164573
Last Updated: 11/24/2020
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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