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170 W Primoroso Drive W Gilbert, AZ 85233

4 Beds 3 Baths 2,140 sqft Built 1993

$360,000

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $168.22
  • 5 Days on Market
  • MLS # : 6155919
  • Updated Date : 11/14/2020 at 14:54
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,140 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Alliance Group

Listing Agent's Description

Lago Estancia: lakes, parks, walking paths. Close to fwy.(60/202), shopping, dining, & downtown Gilbert. Granite counters. Premium corner lot. No 2 stories in back. Energy saving dual pane windows.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Lago Estancia

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Lago Estancia

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9751981

* 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
Gilbert Elementary School Primary Regular 592 39 6
Mesquite Jr High School Middle Regular 715 34 7
Mesquite High School High Regular 2,000 82 6

Gilbert Elementary School

  • Education Level: Primary
  • # of students: 592
  • # of teachers: 39
6
GreatSchools Rating

Mesquite Jr High School

  • Education Level: Middle
  • # of students: 715
  • # of teachers: 34
7
GreatSchools Rating

Mesquite High School

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

$324,000$396,000$360,000

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$1,328
Property Tax -$212
Property Insurance -$69
HOA -$64
Property Management Fees -$99
CASH FLOW
$38

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.

$360,000

PROJECTED PRICE

$1,810

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.2%
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$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$101,150

INVESTMENT

$101,150

Down Payment
$90,000
Rehab Estimate
$5,750
Closing Costs
$5,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,328

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $90,000
Loan Amount $270,000
See What Happens When You Reinvest Cash Flow

5.83

YEARS SAVED

$27,952

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,996

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,810
1$1,8102$1,8953$1,9954$2,0505$2,375
$2,375
RENT COMPS ANALYSIS
  • 170 W Primoroso Drive W Gilbert, AZ 1
    • 4 beds 3 baths ∙ 2,140 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,140 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $0.85
    •  
  • 629 S Burk Street Gilbert, AZ 2
    • 4 beds 2 baths ∙ 2,134 Sqft ∙ Built 1994 4 beds 2 baths ∙ 2,134 Sqft ∙ Built 1994
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.89
    •  
  • 626 W Palo Verde Street Gilbert, AZ 3
    • 4 beds 3 baths ∙ 2,210 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,210 Sqft ∙ Built 1988
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.90
    •  
  • 1060 S Pueblo Street Gilbert, AZ 4
    • 3 beds 2 baths ∙ 2,243 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,243 Sqft ∙ Built 1999
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.91
    •  
  • 687 S Sahuaro Drive Gilbert, AZ 5
    • 3 beds 3 baths ∙ 2,299 Sqft ∙ Built 1993 3 beds 3 baths ∙ 2,299 Sqft ∙ Built 1993
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,375
    • $1.03
    •  
PROPERTY LISTING DETAILS
Paul Pastore
Re/max Alliance Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6155919
Last Updated: 11/14/2020
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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