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PROPERTY INFO
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
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PRICE & RENT TRENDS
Neighborhood: Gateway Village
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Gateway Village
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$103,800
LOAN DETAILS
$1,365
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $92,500 |
| Loan Amount | $277,500 |
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.
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$0
LIST RENT -
$0
LIST RENT PER SQFT
-
$1,965
COMP ESTIMATED VALUE -
$0.91
COMP AVG. RENT PER SQFT
Comps Range
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2071 S Starling Drive Gilbert, AZ 1
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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
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- $1,785
- $0.88
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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
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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
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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
Newman Realty, Llc
1.866.250.5610
Mynd Property Management
LC664597000
MLS #: 6156242
Last Updated: 11/07/2020
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.
