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1706 E Commerce Avenue Gilbert, AZ 85234

4 Beds 2 Baths 2,454 sqft Built 1995

$480,000

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $195.60
  • 3 Days on Market
  • MLS # : 6160358
  • Updated Date : 11/13/2020 at 17:22
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,454 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

Pictures do not do this Gilbert home justice! 2454 sq ft. 4 bed, 2 bath, plus office/bonus room, 2 car garage w/built in cabinets. Single Level, split floor plan. Large kitchen w/granite countertops, island, lots of storage & pantry. North/South exposure. Large, 475 sq ft. covered, outdoor entertaining space, creating a one of a kind backyard experience. Synthetic turf, decorative rock, firepit & 330 sq ft. pergola. Owners suite w/tub & edgeless glass shower, Huge walk in closet & private water closet. Newer luxury carpet, gray toned paint & much more. Nearby trails & Freestone park. Close shopping, restaurants & entertainment. Great Gilbert schools. See document tab for complete list of serviced/upgraded items. This home is well taken care of. Many items available on separate bill of sale

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
 

$432,000$528,000$480,000

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,771
Property Tax -$282
Property Insurance -$75
HOA -$8
Property Management Fees -$99
CASH FLOW
-$235

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.

$480,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.42%

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$1.2M$1.4M

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$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$132,950

INVESTMENT

$132,950

Down Payment
$120,000
Rehab Estimate
$5,750
Closing Costs
$7,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,771

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $120,000
Loan Amount $360,000
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$14,527

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,141

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9503$1,9954$2,0005$2,199
$2,199
RENT COMPS ANALYSIS
  • 1706 E Commerce Avenue Gilbert, AZ 4
    • 4 beds 2 baths ∙ 2,454 Sqft ∙ Built 1995 4 beds 2 baths ∙ 2,454 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.81
    •  
  • 844 N Granite Street Gilbert, AZ 1
    • 4 beds 2 baths ∙ 2,166 Sqft ∙ Built 1992 4 beds 2 baths ∙ 2,166 Sqft ∙ Built 1992
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.88
    •  
  • 1767 E Redfield Road Gilbert, AZ 2
    • 4 beds 3 baths ∙ 2,382 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,382 Sqft ∙ Built 1995
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.82
    •  
  • 891 N Date Palm Drive Gilbert, AZ 3
    • 3 beds 2 baths ∙ 2,347 Sqft ∙ Built 1995 3 beds 2 baths ∙ 2,347 Sqft ∙ Built 1995
    LEASED 10/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.85
    •  
  • 875 N Harmony Avenue Gilbert, AZ 5
    • 3 beds 2 baths ∙ 2,347 Sqft ∙ Built 1997 3 beds 2 baths ∙ 2,347 Sqft ∙ Built 1997
    LEASED 06/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,199
    • $0.94
    •  
PROPERTY LISTING DETAILS
Jamie Namock
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6160358
Last Updated: 11/13/2020
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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