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1891 E Shannon Street Gilbert, AZ 85295

4 Beds 2 Baths 1,820 sqft Built 2001

$409,900

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $225.22
  • 4 Days on Market
  • MLS # : 6167357
  • Updated Date : 12/03/2020 at 16:03
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,820 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Integrity First

Listing Agent's Description

What a 1 story gem close to San Tan Village and all entertainment! Plenty of new upgrades as of October 2020, new paint throughout , new washer and dryer , brand new 16 seer ( high efficiency) Trane AC, new fans throughout, new 4th bedroom ( converted den), Quartz countertops in the kitchen, new flooring in bedrooms and living room, new stained Garage floor, new Garage door, ready to move in and enjoy the Gilbert lifestyle!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Fincher Farms

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Fincher Farms

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8611981

* 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
Ashland Ranch Elementary School Primary Regular 776 44 7
South Valley Jr. High School Middle Regular 1,193 53 9
Campo Verde High School High Regular 2,094 86 8

Ashland Ranch Elementary School

  • Education Level: Primary
  • # of students: 776
  • # of teachers: 44
7
GreatSchools Rating

South Valley Jr. High School

  • Education Level: Middle
  • # of students: 1,193
  • # of teachers: 53
9
GreatSchools Rating

Campo Verde High School

  • Education Level: High
  • # of students: 2,094
  • # of teachers: 86
8
GreatSchools Rating
 

$368,910$450,890$409,900

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$1,512
Property Tax -$243
Property Insurance -$63
HOA -$63
Property Management Fees -$99
CASH FLOW
-$300

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.

$409,900

PROJECTED PRICE

$1,680

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 7.2%
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

PROJECTED ANNUAL CASH FLOW

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

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$114,374

INVESTMENT

$114,374

Down Payment
$102,475
Rehab Estimate
$5,750
Closing Costs
$6,149

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,512

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $102,475
Loan Amount $307,425
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$6,094

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,802

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,5953$1,6504$1,6955$1,850
$1,850
RENT COMPS ANALYSIS
  • 1891 E Shannon Street Gilbert, AZ 1
    • 4 beds 2 baths ∙ 1,820 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,820 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1456 S Boulder Street #a Gilbert, AZ 2
    • 3 beds 2 baths ∙ 1,661 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,661 Sqft ∙ Built 1998
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.96
    •  
  • 1926 S Maple Drive Gilbert, AZ 3
    • 3 beds 2 baths ∙ 1,688 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,688 Sqft ∙ Built 2001
    LEASED 11/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.98
    •  
  • 1950 E Dublin Street Gilbert, AZ 4
    • 3 beds 2 baths ∙ 1,688 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,688 Sqft ∙ Built 2001
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.00
    •  
  • 1931 E Shannon Street Gilbert, AZ 5
    • 3 beds 2 baths ∙ 1,820 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,820 Sqft ∙ Built 2001
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.02
    •  
PROPERTY LISTING DETAILS
Christian Ernoe Bissing
Keller Williams Integrity First
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6167357
Last Updated: 12/03/2020
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.

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