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2071 S Starling Drive Gilbert, AZ 85295

4 Beds 3 Baths 2,159 sqft Built 2004

$370,000

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $171.38
  • 4 Days on Market
  • MLS # : 6156242
  • Updated Date : 11/07/2020 at 08:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,159 sqft
  • Baths : 2 full , 1 half
Listing Agent

Newman Realty, Llc

Listing Agent's Description

Amazing home in the heart of Gilbert now for sale! Check out this 4 bedroom 2.5 bath on oversized 9300 sq ft lot in Gateway Village. Home has tasteful upgrades like granite countertops and stainless steel appliances. Great floorplan with front room separate from great room/kitchen, all bedrooms up stairs with laundry. Huge 9367 sq ft lot with extended patio cover and outdoor shed. Plenty of room to add a pool if wanted. Gateway Village has community pool and low HOA fee. This community is in the heart of everything coming to Gilbert- Verde, brand new Fry's at Recker/Williams Field, Epicenter at Higley and Ray, shopping dining and movie theater are all a short walk or bike ride away. Check this one out today. Note-seller will need up to 60 day leaseback to secure replacement home

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
 

$333,000$407,000$370,000

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,365
Property Tax -$253
Property Insurance -$69
HOA -$70
Property Management Fees -$99
CASH FLOW
-$66

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.

$370,000

PROJECTED PRICE

$1,790

PROJECTED RENT

0.48%

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$103,800

INVESTMENT

$103,800

Down Payment
$92,500
Rehab Estimate
$5,750
Closing Costs
$5,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,365

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $92,500
Loan Amount $277,500
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$18,562

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
  • $1,965

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,7853$1,7954$1,8505$2,095
$2,095
RENT COMPS ANALYSIS
  • 2071 S Starling Drive Gilbert, AZ 1
    • 4 beds 3 baths ∙ 2,159 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,159 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 4340 E Toledo Street Gilbert, AZ 2
    • 3 beds 3 baths ∙ 2,029 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,029 Sqft ∙ Built 2017
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,785
    • $0.88
    •  
  • 2253 S Jacana Lane Gilbert, AZ 3
    • 3 beds 3 baths ∙ 2,067 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,067 Sqft ∙ Built 2017
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.87
    •  
  • 4250 E Milky Way Gilbert, AZ 4
    • 4 beds 3 baths ∙ 2,020 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,020 Sqft ∙ Built 2006
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.92
    •  
  • 2011 S Swan Drive Gilbert, AZ 5
    • 3 beds 3 baths ∙ 2,159 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,159 Sqft ∙ Built 2004
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.97
    •  
PROPERTY LISTING DETAILS
Mark Newman
Newman Realty, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6156242
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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