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17248 E Desert Lane Gilbert, AZ 85234

3 Beds 2 Baths 2,342 sqft Built 1988

$750,000

List Price

$2,380

$2.1K - $2.6K

Rent Est.

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!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Gilbert

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Gilbert

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10361987

* 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
Carol Rae Ranch Elementary School Primary Regular 594 37 7
Highland Jr High School Middle Regular 1,269 59 8
Highland High School High Regular 3,065 123 8

Carol Rae Ranch Elementary School

  • Education Level: Primary
  • # of students: 594
  • # of teachers: 37
7
GreatSchools Rating

Highland Jr High School

  • Education Level: Middle
  • # of students: 1,269
  • # of teachers: 59
8
GreatSchools Rating

Highland High School

  • Education Level: High
  • # of students: 3,065
  • # of teachers: 123
8
GreatSchools Rating
 

$675,000$825,000$750,000

PURCHASE PRICE

$2,142$2,618$2,380

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$204,500

INVESTMENT

$204,500

Down Payment
$187,500
Rehab Estimate
$5,750
Closing Costs
$11,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,605

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $187,500
Loan Amount $562,500
See What Happens When You Reinvest Cash Flow

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
$1,849
1$1,8492$1,9993$2,3354$2,3505$2,380
$2,380
RENT COMPS ANALYSIS
  • 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
Eric Brossart
Keller Williams Realty Phoenix
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6168656
Last Updated: 01/06/2021
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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