Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1767 W Encinas Street Gilbert, AZ 85233

3 Beds 3 Baths 1,705 sqft Built 1994

$350,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $205.28
  • 4 Days on Market
  • MLS # : 6166968
  • Updated Date : 12/05/2020 at 15:39
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,705 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty

Listing Agent's Description

You'll love this charming and immaculately cared for home in the beautiful El Dorado Lakes golf community. As you enter the foyer, you are greeted with vaulted ceilings and lots of natural light. With brand new paint inside and out, this home shows like new. This large 1705 Sqft home, feels even larger due to the excellent layout and design, allowing the greatest comfort for those family gatherings and holidays. Featuring 3 bedrooms and 2.5 full bathrooms, this home has all the space you will ever need. The open concept kitchen features granite countertops, stainless steel appliances, a sizeable island, pantry, and rich laminate wood floors throughout. The spacious master suite is large enough to easily accommodate all your furniture as well as a king sized bed. Entering the

SEE MORE

PRICE & RENT TRENDS

Neighborhood: El Dorado Lakes Golf Community

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $122k397k

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

Neighborhood: El Dorado Lakes Golf Community

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10361991

* 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
Playa Del Rey Elementary School Primary Regular 500 37 7
Mesquite Jr High School Middle Regular 715 34 7
Mesquite High School High Regular 2,000 82 6

Playa Del Rey Elementary School

  • Education Level: Primary
  • # of students: 500
  • # of teachers: 37
7
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
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,291
Property Tax -$206
Property Insurance -$60
HOA -$12
Property Management Fees -$99
CASH FLOW
-$18

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.

$350,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.6%
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

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$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$22,820

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,803

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6503$1,7004$1,9005$1,995
$1,995
RENT COMPS ANALYSIS
  • 1767 W Encinas Street Gilbert, AZ 2
    • 3 beds 3 baths ∙ 1,705 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,705 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.97
    •  
  • 921 N Kingston Street Gilbert, AZ 1
    • 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 1995
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.05
    •  
  • 645 N El Dorado Drive Gilbert, AZ 3
    • 3 beds 2 baths ∙ 1,756 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,756 Sqft ∙ Built 1994
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.97
    •  
  • 612 N El Dorado Drive Gilbert, AZ 4
    • 3 beds 3 baths ∙ 1,698 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,698 Sqft ∙ Built 1994
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.12
    •  
  • 991 W Juanita Avenue Gilbert, AZ 5
    • 3 beds 2 baths ∙ 1,838 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,838 Sqft ∙ Built 1994
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.09
    •  
PROPERTY LISTING DETAILS
Christopher L Stedman
Exp Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6166968
Last Updated: 12/05/2020
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.

BESbswy