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1972 S Falcon Drive Gilbert, AZ 85295

3 Beds 3 Baths 1,737 sqft Built 2004

$350,000

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $201.50
  • 2 Days on Market
  • MLS # : 6155517
  • Updated Date : 11/07/2020 at 10:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,737 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Fine Properties

Listing Agent's Description

This one simply will not last! Remodeled kitchen and baths, updated cabinetry, granite counters, new stainless steel appliances, gorgeous new flooring, new windows, the list goes on! Interior corner lot with no neighbors behind or on the South side, backing open space with incredible views! The sunsets here will stun!. Inside you will find THREE full bedrooms PLUS a large loft AND office nook! Gateway Village features tons of common space, a pool complex, walking paths and more! Conveniently located within walking distance to fantastic restaurants, shopping and so much more! Did I mention that ALL appliances are INCLUDED! Gorgeous homes like this, in this price range, simply don't come around these days very often!

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
Gateway Pointe Elementary School Primary Regular 755 36 7
Gateway Pointe Elementary School Middle Regular 755 36 7
Williams Field High School High Regular 1,705 64 7

Gateway Pointe Elementary School

  • Education Level: Primary
  • # of students: 755
  • # of teachers: 36
7
GreatSchools Rating

Gateway Pointe Elementary School

  • Education Level: Middle
  • # of students: 755
  • # of teachers: 36
7
GreatSchools Rating

Williams Field High School

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

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

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$1,291
Property Tax -$239
Property Insurance -$61
HOA -$70
Property Management Fees -$99
CASH FLOW
-$200

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

$1,560

PROJECTED RENT

0.45%

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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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 55% 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

2.5

YEARS SAVED

$7,929

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,694

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5603$1,6004$1,7505$2,000
$2,000
RENT COMPS ANALYSIS
  • 1972 S Falcon Drive Gilbert, AZ 2
    • 3 beds 3 baths ∙ 1,737 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,737 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.90
    •  
  • 4350 E Tyson Street Gilbert, AZ 1
    • 3 beds 3 baths ∙ 1,607 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,607 Sqft ∙ Built 2006
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.93
    •  
  • 4131 E Tulsa Street Gilbert, AZ 3
    • 3 beds 3 baths ∙ 1,682 Sqft ∙ Built 2011 3 beds 3 baths ∙ 1,682 Sqft ∙ Built 2011
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.95
    •  
  • 4048 E Vest Avenue Gilbert, AZ 4
    • 3 beds 3 baths ∙ 1,819 Sqft ∙ Built 2011 3 beds 3 baths ∙ 1,819 Sqft ∙ Built 2011
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.96
    •  
  • 4269 E Harrison Street Gilbert, AZ 5
    • 3 beds 2 baths ∙ 1,892 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,892 Sqft ∙ Built 2002
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.06
    •  
PROPERTY LISTING DETAILS
David C Tucker
Re/max Fine Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6155517
Last Updated: 11/07/2020
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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