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1715 E Washington Court Gilbert, AZ 85234

4 Beds 3 Baths 2,903 sqft Built 2000

$510,000

List Price

$2,550

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $175.68
  • 3 Days on Market
  • MLS # : 6177148
  • Updated Date : 01/08/2021 at 08:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,903 sqft
  • Baths : 2 full , 1 half
Listing Agent

Balboa Realty, Llc

Listing Agent's Description

Beautiful family home in heart of Gilbert, with biking and walking paths near by. This 4 bedroom 2.5 bath home offers a great floor plan for entertaining. Large formal, family room with a built-in entertainment center. Plantation shutters throughout home. Open concept kitchen with Travertine counters and backsplash ,kitchen island, 42 inch cabinets. Large Master bedroom downstairs. Master bathroom tiled shower separate tub. Upstairs you will find a large loft perfect for pool table/kids play area. 3 bedrooms with one over sized bedroom. Outside has great covered patio with view of pebble tec pool with waterfall feature. The Garage has built in cabinets with built in for garage refrigerator.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Val Vista Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $122k427k

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

Neighborhood: Val Vista Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000210022002300Rent in $10362329

* 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
 

$459,000$561,000$510,000

PURCHASE PRICE

$2,295$2,805$2,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,550
EXPENSES Loan Payment -$1,771
Property Tax -$300
Property Insurance -$84
HOA -$65
Property Management Fees -$99
CASH FLOW
$231

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.

$510,000

PROJECTED PRICE

$2,550

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.3%
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$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

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$140,900

INVESTMENT

$140,900

Down Payment
$127,500
Rehab Estimate
$5,750
Closing Costs
$7,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,771

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $127,500
Loan Amount $382,500
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$49,808

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,550

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $2,533

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$2,399
1$2,3992$2,4953$2,5504$2,5505$2,600
$2,600
RENT COMPS ANALYSIS
  • 1715 E Washington Court Gilbert, AZ 4
    • 4 beds 3 baths ∙ 2,903 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,903 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.88
    •  
  • 1700 E Lakeside Drive #60 Gilbert, AZ 1
    • 3 beds 3 baths ∙ 2,944 Sqft ∙ Built 1991 3 beds 3 baths ∙ 2,944 Sqft ∙ Built 1991
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,399
    • $0.81
    •  
  • 1678 E Linda Lane Gilbert, AZ 2
    • 4 beds 3 baths ∙ 2,903 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,903 Sqft ∙ Built 2000
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.86
    •  
  • 1443 E Saratoga Court Gilbert, AZ 3
    • 3 beds 3 baths ∙ 2,677 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,677 Sqft ∙ Built 1997
    LEASED 09/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.95
    •  
  • 1758 E Marquette Drive Gilbert, AZ 5
    • 5 beds 3 baths ∙ 2,983 Sqft ∙ Built 1996 5 beds 3 baths ∙ 2,983 Sqft ∙ Built 1996
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.87
    •  
PROPERTY LISTING DETAILS
Amy Mills
Balboa Realty, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6177148
Last Updated: 01/08/2021
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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