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1668 E Tremaine Avenue Gilbert, AZ 85234

3 Beds 2 Baths 1,248 sqft Built 1985

$330,000

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $264.42
  • 3 Days on Market
  • MLS # : 6166774
  • Updated Date : 12/04/2020 at 12:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,248 sqft
  • Baths : 2 full
Listing Agent

Re/max Solutions

Listing Agent's Description

**LOCATION** This Upgraded 3 bed, 2 bath, located in Gilbert's Desirable Sonoma Ranch is now on the market! Featuring Desert Front Landscaping with a 2 car garage. Inside you will find Elegant Dining, Large Great Room with vaulted ceilings, Wood laminate flooring, Tile and carpet in all the right places. Beautiful neutral paint throughout. Kitchen offers ample cabinetry, pantry, Granite Countertops with backsplash, stainless steel appliances, and a charming island. You'll love the stunning master bedroom with its private bath and spacious walk-in closet. Newer Roof. NEW Exterior and Interior Paint. Finally, the expansive backyard with its cozy patio and lush grassy landscaping, the perfect place for spending quality time with friends and loved ones! Schedule a showing now!!!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Sonoma Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Sonoma Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10361981

* 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
Sonoma Ranch Elementary School Primary Regular 510 36 8
Greenfield Junior High School Middle Regular 917 44 9
Gilbert High School High Regular 2,470 113 7

Sonoma Ranch Elementary School

  • Education Level: Primary
  • # of students: 510
  • # of teachers: 36
8
GreatSchools Rating

Greenfield Junior High School

  • Education Level: Middle
  • # of students: 917
  • # of teachers: 44
9
GreatSchools Rating

Gilbert High School

  • Education Level: High
  • # of students: 2,470
  • # of teachers: 113
7
GreatSchools Rating
 

$297,000$363,000$330,000

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$1,218
Property Tax -$194
Property Insurance -$52
HOA -$8
Property Management Fees -$99
CASH FLOW
-$60

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.

$330,000

PROJECTED PRICE

$1,510

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.5%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$93,200

INVESTMENT

$93,200

Down Payment
$82,500
Rehab Estimate
$5,750
Closing Costs
$4,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,218

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,500
Loan Amount $247,500
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$17,760

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $1.21

    LIST RENT PER SQFT
  • $1,501

    COMP ESTIMATED VALUE
  • $1.2

    COMP AVG. RENT PER SQFT
Comps Range
$1,475
1$1,4752$1,5103$1,5754$1,7005$1,725
$1,725
RENT COMPS ANALYSIS
  • 1668 E Tremaine Avenue Gilbert, AZ 2
    • 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1985
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $1.21
    •  
  • 1344 E Tradewind Drive Gilbert, AZ 1
    • 3 beds 2 baths ∙ 1,262 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,262 Sqft ∙ Built 1994
    property image
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $1.17
    •  
  • 1703 E Tremaine Avenue Gilbert, AZ 3
    • 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1995
    property image
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.21
    •  
  • 1835 E Marquette Drive Gilbert, AZ 4
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1994
    property image
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.21
    •  
  • 1048 N Columbus Drive Gilbert, AZ 5
    • 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1995
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $1.22
    •  
PROPERTY LISTING DETAILS
Maryann M Alonso
Re/max Solutions
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6166774
Last Updated: 12/04/2020
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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