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1912 E Washington Avenue Gilbert, AZ 85234

4 Beds 4 Baths 3,802 sqft Built 2003

$829,000

List Price

$3,130

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

January 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $218.04
  • 6 Days on Market
  • MLS # : 6179722
  • Updated Date : 01/12/2021 at 18:32
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,802 sqft
  • Baths : 3 full , 1 half
Listing Agent

Berkshire Hathaway Homeservices Arizona Properties

Listing Agent's Description

Premium custom home in prestigious Circle G Ranches in the heart of Gilbert. This 4 bd, 3.5 ba home with a den/office, and formal living room has custom planation shutters throughout. The 2nd Bedroom has a it's own bath and exterior entrance would make great mother-in-law quarters. The 4 car oversized garage has custom cabinetry and is still large enough to park a 3/4 ton full size pick-up. The Kitchen features two dishwashers, two ovens, two pantry's, and a huge island perfect for entertaining. The great room offers dining just off the kitchen. The back yard is more like a resort with Pool and waterfall, spa, and fire pit; great storage facility and huge grass area. Home has an owned Solar 8.61 KW efficient power system. A custom home like this rarely comes on the market, DO NOT 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
Sonoma Ranch Elementary School Primary Regular 510 36 8
Greenfield Junior High School Middle Regular 917 44 9
Gilbert High School High Regular 2,470 113 7

Sonoma Ranch Elementary School

  • Education Level: Primary
  • # of students: 510
  • # of teachers: 36
8
GreatSchools Rating

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
 

$746,100$911,900$829,000

PURCHASE PRICE

$2,817$3,443$3,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,130
EXPENSES Loan Payment -$2,879
Property Tax -$697
Property Insurance -$101
Property Management Fees -$99
CASH FLOW
-$647

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.

$829,000

PROJECTED PRICE

$3,130

PROJECTED RENT

0.38%

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$15k$20k

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$225,435

INVESTMENT

$225,435

Down Payment
$207,250
Rehab Estimate
$5,750
Closing Costs
$12,435

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,879

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $207,250
Loan Amount $621,750
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$6,295

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
  • $3,042

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,8003$3,249
$3,249
RENT COMPS ANALYSIS
  • 1912 E Washington Avenue Gilbert, AZ 1
    • 4 beds 4 baths ∙ 3,802 Sqft ∙ Built 2003 4 beds 4 baths ∙ 3,802 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 345 N Date Palm Drive Gilbert, AZ 2
    • 5 beds 4 baths ∙ 3,541 Sqft ∙ Built 1999 5 beds 4 baths ∙ 3,541 Sqft ∙ Built 1999
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.79
    •  
  • 2104 E Gondola Lane Gilbert, AZ 3
    • 5 beds 4 baths ∙ 4,000 Sqft ∙ Built 1995 5 beds 4 baths ∙ 4,000 Sqft ∙ Built 1995
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,249
    • $0.81
    •  
PROPERTY LISTING DETAILS
Robert Scott Terrell
Berkshire Hathaway Homeservices Arizona Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6179722
Last Updated: 01/12/2021
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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