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1893 S Starling Drive Gilbert, AZ 85295

4 Beds 3 Baths 2,159 sqft Built 2003

$380,000

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $176.01
  • 3 Days on Market
  • MLS # : 6203146
  • Updated Date : 03/05/2021 at 21:27
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,159 sqft
  • Baths : 2 full , 1 half
Listing Agent

Better Choice Homes, Llc

Listing Agent's Description

Must see 4 bedroom, 2.5 bath conveniently located in Gateway Crossings in Gilbert! This home has an awesome floorplan on a HUGE corner lot. Well maintained! New tile and carpet downstairs. Formal living room. Big bright eat in kitchen that opens up to family room. Great sized pantry and room under the stairs for plenty of storage! Neighborhood has lots of parks and a community pool. Newer AC units, Soft water system and RO system. Washer, Dryer and Refrigerator stays!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Gateway Village

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Gateway Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8721981

* 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
Cooley Middle School Middle Unknown 915 39 NA
Williams Field High School High Regular 1,705 64 7

Cooley Middle School

  • Education Level: Middle
  • # of students: 915
  • # of teachers: 39
NA
GreatSchools Rating

Williams Field High School

  • Education Level: High
  • # of students: 1,705
  • # of teachers: 64
7
GreatSchools Rating
 

$342,000$418,000$380,000

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$1,320
Property Tax -$259
Property Insurance -$69
HOA -$81
Property Management Fees -$99
CASH FLOW
$51

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.

$380,000

PROJECTED PRICE

$1,880

PROJECTED RENT

0.49%

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

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$106,450

INVESTMENT

$106,450

Down Payment
$95,000
Rehab Estimate
$5,750
Closing Costs
$5,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,320

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $95,000
Loan Amount $285,000
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$24,454

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,132

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8803$2,0954$2,2005$2,215
$2,215
RENT COMPS ANALYSIS
  • 1893 S Starling Drive Gilbert, AZ 2
    • 4 beds 3 baths ∙ 2,159 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,159 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $0.87
    •  
  • 4250 E Milky Way Gilbert, AZ 1
    • 4 beds 3 baths ∙ 2,020 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,020 Sqft ∙ Built 2006
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.92
    •  
  • 2011 S Swan Drive Gilbert, AZ 3
    • 3 beds 3 baths ∙ 2,159 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,159 Sqft ∙ Built 2004
    property image
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.97
    •  
  • 4340 E Megan Street Gilbert, AZ 4
    • 4 beds 3 baths ∙ 2,127 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,127 Sqft ∙ Built 2001
    property image
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.03
    •  
  • 4565 E Ivanhoe Street Gilbert, AZ 5
    • 4 beds 3 baths ∙ 2,159 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,159 Sqft ∙ Built 2004
    property image
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,215
    • $1.03
    •  
PROPERTY LISTING DETAILS
Melissa A Resch
Better Choice Homes, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6203146
Last Updated: 03/05/2021
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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