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2155 E Chesapeake Drive Gilbert, AZ 85234

4 Beds 3 Baths 2,600 sqft Built 1989

$479,990

List Price

$2,390

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $184.61
  • 4 Days on Market
  • MLS # : 6177846
  • Updated Date : 01/09/2021 at 02:41
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,600 sqft
  • Baths : 3 full
Listing Agent

Homesmart Success

Listing Agent's Description

*Pool* Val Vista Lakes, 4Bed+enclosed office, 3Car Garage Laundry up stair and down stairs, Fresh paint and new Carpet, greets you with rich hardwood flooring. The kitchen has upgraded granite counter tops and under cabinet lighting plus a breakfast nook, both open to the spacious living room with its cozy brick fireplace. This model has a downstairs bedroom plus a bathroom with shower and direct access to the rear yard to wash off after enjoying a dip into the Newer pool equipment and recently resurfaced. Upstairs, the master bathroom has double sinks, a walk in shower, large bathtub, gorgeous tile and a walk-in closet. Outside, the backyard has a covered patio and fenced side yard for the dogs. Just minutes away from the club house with pools, tennis courts, gym, and racquetball court

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Spinnaker Bay

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $122k371k

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

Neighborhood: Spinnaker Bay

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10141998

* 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
Val Vista Lakes Elementary School Primary Regular 544 35 6
Highland Jr High School Middle Regular 1,269 59 8
Highland High School High Regular 3,065 123 8

Val Vista Lakes Elementary School

  • Education Level: Primary
  • # of students: 544
  • # of teachers: 35
6
GreatSchools Rating

Highland Jr High School

  • Education Level: Middle
  • # of students: 1,269
  • # of teachers: 59
8
GreatSchools Rating

Highland High School

  • Education Level: High
  • # of students: 3,065
  • # of teachers: 123
8
GreatSchools Rating
 

$431,991$527,989$479,990

PURCHASE PRICE

$2,151$2,629$2,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,390
EXPENSES Loan Payment -$1,667
Property Tax -$282
Property Insurance -$71
HOA -$92
Property Management Fees -$99
CASH FLOW
$178

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.

$479,990

PROJECTED PRICE

$2,390

PROJECTED RENT

0.50%

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$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$132,947

INVESTMENT

$132,947

Down Payment
$119,998
Rehab Estimate
$5,750
Closing Costs
$7,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,667

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $119,998
Loan Amount $359,993
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$42,722

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
  • $2,354

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,1003$2,2954$2,3505$2,650
$2,650
RENT COMPS ANALYSIS
  • 2155 E Chesapeake Drive Gilbert, AZ 1
    • 4 beds 3 baths ∙ 2,258 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,258 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1510 E Beacon Drive Gilbert, AZ 2
    • 3 beds 3 baths ∙ 2,067 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,067 Sqft ∙ Built 1992
    LEASED 11/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.02
    •  
  • 2220 E Marquette Drive Gilbert, AZ 3
    • 4 beds 2 baths ∙ 2,163 Sqft ∙ Built 1994 4 beds 2 baths ∙ 2,163 Sqft ∙ Built 1994
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.06
    •  
  • 1419 E Encinas Avenue Gilbert, AZ 4
    • 4 beds 3 baths ∙ 2,370 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,370 Sqft ∙ Built 1992
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.99
    •  
  • 2066 E La Salle Way Gilbert, AZ 5
    • 3 beds 3 baths ∙ 2,400 Sqft ∙ Built 1993 3 beds 3 baths ∙ 2,400 Sqft ∙ Built 1993
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.10
    •  
PROPERTY LISTING DETAILS
Christopher W Mangan
Homesmart Success
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6177846
Last Updated: 01/09/2021
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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