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PROPERTY INFO
FACTS
- Single Family
- Built In 1988
- Price/Sqft : $320.24
- 16 Days on Market
- MLS # : 6168656
- Updated Date : 01/06/2021 at 17:57
CONSTRUCTION
- Beds : 3
- Floor Size : 2,342 sqft
- Baths : 2 full
Listing Agent
Keller Williams Realty Phoenix
Listing Agent's Description
Welcome Home to Desert Lane!! This property sits on over an acre and backs up to an additional acre plus lot on Melody that is also owned by the same owner. Gilbert horse property is highly sought after. Get in an offer before you miss out!
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PRICE & RENT TRENDS
Neighborhood: Gilbert
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Gilbert
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,380 |
| EXPENSES | Loan Payment | -$2,605 |
| Property Tax | -$479 | |
| Property Insurance | -$73 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$876
|
||
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.
$750,000
PROJECTED PRICE
$2,380
PROJECTED RENT
0.32%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.17% |
| Appreciation Year (1-5) | 5.0% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.60% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$204,500
LOAN DETAILS
$2,605
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $187,500 |
| Loan Amount | $562,500 |
0.42
YEARS SAVED
$691
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,380
LIST RENT -
$1.02
LIST RENT PER SQFT
-
$2,242
COMP ESTIMATED VALUE -
$0.96
COMP AVG. RENT PER SQFT
Comps Range
-
17248 E Desert Lane Gilbert, AZ 5
- 3 beds 2 baths ∙ 2,342 Sqft ∙ Built 1988 3 beds 2 baths ∙ 2,342 Sqft ∙ Built 1988
- Rent
- Rent Per SQFT
- $2,380
- $1.02
-
4125 E San Pedro Avenue Gilbert, AZ 1
- 4 beds 2 baths ∙ 2,145 Sqft ∙ Built 1992 4 beds 2 baths ∙ 2,145 Sqft ∙ Built 1992
LEASED 06/28/20- Rent
- Rent Per SQFT
- $1,849
- $0.86
-
3594 E Gary Way Gilbert, AZ 2
- 3 beds 2 baths ∙ 2,047 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,047 Sqft ∙ Built 2007
LEASED 11/25/20- Rent
- Rent Per SQFT
- $1,999
- $0.98
-
1415 N Thunderbird Avenue Gilbert, AZ 3
- 3 beds 3 baths ∙ 2,267 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,267 Sqft ∙ Built 2002
LEASED 12/12/20- Rent
- Rent Per SQFT
- $2,335
- $1.03
-
1256 N Banning Street Gilbert, AZ 4
- 4 beds 2 baths ∙ 2,454 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,454 Sqft ∙ Built 1997
LEASED 03/06/20- Rent
- Rent Per SQFT
- $2,350
- $0.96
PROPERTY LISTING DETAILS
Keller Williams Realty Phoenix
1.866.250.5610
Mynd Property Management
LC664597000
MLS #: 6168656
Last Updated: 01/06/2021
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.
