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1978 E Ivanhoe Street Gilbert, AZ 85295

3 Beds 2 Baths 1,480 sqft Built 2005

$299,000

List Price

$1,420

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $202.03
  • 4 Days on Market
  • MLS # : 6174404
  • Updated Date : 12/24/2020 at 22:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,480 sqft
  • Baths : 2 full
Listing Agent

Call Realty, Inc.

Listing Agent's Description

Beautiful 3 bedroom plus den, 2.5 bath home in the gated community of Fincher Creek This property features a large kitchen with new built in microwave and dishwasher. Family room is adjacent to a downstairs den which is perfect for a home office. This home has also been refreshed with new interior paint and plush carpet throughout. Outside you will find a courtyard sized low maintenance yard. Additional features include a newer HVAC, newer exterior paint, 2 car garage.This property is located within walking distance to the San Mall with plenty of shopping, restaurants and entertainment.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Fincher Creek

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $102k358k

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

Neighborhood: Fincher Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8291981

* 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
 

$269,100$328,900$299,000

PURCHASE PRICE

$1,278$1,562$1,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,420
EXPENSES Loan Payment -$1,103
Property Tax -$177
Property Insurance -$56
HOA -$117
Property Management Fees -$99
CASH FLOW
-$133

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.

$299,000

PROJECTED PRICE

$1,420

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.1%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,103

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$8,948

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,420

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,462

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,420
1$1,4202$1,4953$1,4994$1,5955$1,700
$1,700
RENT COMPS ANALYSIS
  • 1978 E Ivanhoe Street Gilbert, AZ 1
    • 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $0.96
    •  
  • 1942 E Harrison Street Gilbert, AZ 2
    • 3 beds 3 baths ∙ 1,560 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,560 Sqft ∙ Built 2004
    property image
    LEASED 12/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.96
    •  
  • 1901 E Emily Lane Gilbert, AZ 3
    • 3 beds 3 baths ∙ 1,574 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,574 Sqft ∙ Built 2005
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $0.95
    •  
  • 1968 E Del Rio Street Gilbert, AZ 4
    • 4 beds 3 baths ∙ 1,574 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,574 Sqft ∙ Built 2005
    property image
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.01
    •  
  • 1764 E Erie Street Gilbert, AZ 5
    • 3 beds 2 baths ∙ 1,655 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,655 Sqft ∙ Built 1998
    property image
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.03
    •  
PROPERTY LISTING DETAILS
Tamara K. Gerbich
Call Realty, Inc.
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6174404
Last Updated: 12/24/2020
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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