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1875 E Aspen Way Gilbert, AZ 85234

5 Beds 3 Baths 2,382 sqft Built 1994

$390,000

List Price

$2,230

$2K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $163.73
  • 4 Days on Market
  • MLS # : 6199009
  • Updated Date : 02/25/2021 at 18:19
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,382 sqft
  • Baths : 3 full
Listing Agent

Mosaic Properties

Listing Agent's Description

If you are looking for a home in a great location, with a perfect use of space, tons of natural light, 5 bedrooms and a great yard - 1875 Aspen is it! The home is situated on an oversized, corner lot and has a large backyard with mature trees, expanded deck and no neighbors to the east. Upon entering the home you are greeted with vaulted ceilings and tons of natural light. The downstairs living area features a spacious formal living and dining room and that would make a great formal space or flex space for a game room or entertaining. The open format kitchen has granite countertops, tons of counter and cabinet space and opens to the dining nook and family room. The entire space feels bright and welcoming. There is also a secondary bedroom downstairs and the bathroom has an upgraded tile

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
Greenfield Junior High School Middle Regular 917 44 9
Gilbert High School High Regular 2,470 113 7
Greenfield Junior High School Middle Unknown NA

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

Greenfield Junior High School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$351,000$429,000$390,000

PURCHASE PRICE

$2,007$2,453$2,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,230
EXPENSES Loan Payment -$1,355
Property Tax -$229
Property Insurance -$74
HOA -$8
Property Management Fees -$99
CASH FLOW
$466

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.

$390,000

PROJECTED PRICE

$2,230

PROJECTED RENT

0.57%

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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$109,100

INVESTMENT

$109,100

Down Payment
$97,500
Rehab Estimate
$5,750
Closing Costs
$5,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$1,355

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $97,500
Loan Amount $292,500
See What Happens When You Reinvest Cash Flow

11.5

YEARS SAVED

$69,560

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,230

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $2,400

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$2,230
1$2,2302$2,3503$2,4504$2,5005$2,595
$2,595
RENT COMPS ANALYSIS
  • 1875 E Aspen Way Gilbert, AZ 1
    • 5 beds 3 baths ∙ 2,382 Sqft ∙ Built 1994 5 beds 3 baths ∙ 2,382 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $2,230
    • $0.94
    •  
  • 1419 E Encinas Avenue Gilbert, AZ 2
    • 4 beds 3 baths ∙ 2,370 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,370 Sqft ∙ Built 1992
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.99
    •  
  • 1625 E Heather Avenue Gilbert, AZ 3
    • 5 beds 3 baths ∙ 2,382 Sqft ∙ Built 1995 5 beds 3 baths ∙ 2,382 Sqft ∙ Built 1995
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.03
    •  
  • 2174 E New Bedford Drive Gilbert, AZ 4
    • 5 beds 3 baths ∙ 2,527 Sqft ∙ Built 1988 5 beds 3 baths ∙ 2,527 Sqft ∙ Built 1988
    LEASED 12/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.99
    •  
  • 1156 N Fiji Way Gilbert, AZ 5
    • 5 beds 3 baths ∙ 2,538 Sqft ∙ Built 1991 5 beds 3 baths ∙ 2,538 Sqft ∙ Built 1991
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $1.02
    •  
PROPERTY LISTING DETAILS
Elizabeth Morganroth
Mosaic Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6199009
Last Updated: 02/25/2021
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. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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