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2181 E Coconino Drive Gilbert, AZ 85298

4 Beds 5 Baths 5,475 sqft Built 2003

INVESTimate

$1,299,900

List Price

$4,700

$4,450 - $4,950

Rent Est.

$1,376,204  ( +5.87%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $237.42
  • 5 Days on Market
  • MLS # : 6121367
  • Updated Date : 08/22/2020 at 12:21
CONSTRUCTION
  • Beds : 4
  • Floor Size : 5,475 sqft
  • Baths : 5 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Stunning and immaculate breathtaking gem in beautiful Circle G at Ocotillo. This Luxurious, resort like custom home features Custom travertine 24'' flooring in main areas,laminated wood floor in bedrooms, canterra stone, custom granite, hand made alder wood cabinets and doors, custom wrought iron, master bath steam room, air conditioned garage. Venetian plaster & wall sconces, 4 fireplaces, butted glass windows, Subzero dual wood panel refrigerator, commercial Wolf range and oven, 2 custom canterra fountains, wet bar and Wine room, 3 suites with private bathrooms,arched iron & glass front door , large walk-in closets, Large covered patio, Fenced tennis court, outside bathroom, Large observation deck, professionally landscaped. INCREDIBLE resort like custom pool/spa.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Ocotillo

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900kPrice in $122k917k

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

Neighborhood: Ocotillo

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800300032003400360038004000Rent in $10364176

* 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
Weinberg Elementary School Primary Regular 846 42 8
Payne Junior High School Middle Regular 1,518 70 9
Perry High School High Regular 3,194 142 7

Weinberg Elementary School

  • Education Level: Primary
  • # of students: 846
  • # of teachers: 42
8
GreatSchools Rating

Payne Junior High School

  • Education Level: Middle
  • # of students: 1,518
  • # of teachers: 70
9
GreatSchools Rating

Perry High School

  • Education Level: High
  • # of students: 3,194
  • # of teachers: 142
7
GreatSchools Rating
 

$1,169,910$1,429,890$1,299,900

PURCHASE PRICE

$4,230$5,170$4,700

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$10k$0.0$10k$20k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,700
EXPENSES Loan Payment -$4,796
Property Tax -$871
Property Insurance -$134
HOA -$60
Property Management Fees -$99
CASH FLOW
-$1,260

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.

$1,299,900

PROJECTED PRICE

$4,700

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.87%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$350,224

INVESTMENT

$350,224

Down Payment
$324,975
Rehab Estimate
$5,750
Closing Costs
$19,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$4,796

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $324,975
Loan Amount $974,925
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$7,329

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,700

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $5,201

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$4,700
1$4,7002$4,885
$4,885
RENT COMPS ANALYSIS
  • 2181 E Coconino Drive Gilbert, 1
    • 4 beds 5 baths ∙ 5,475 Sqft ∙ Built 2003 4 beds 5 baths ∙ 5,475 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $4,700
    • $0.86
    •  
  • 2069 E Tiffany Court Gilbert, 2
    • 5 beds 5 baths ∙ 5,158 Sqft ∙ Built 2004 5 beds 5 baths ∙ 5,158 Sqft ∙ Built 2004
    LEASED 09/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,885
    • $0.95
    •  
PROPERTY LISTING DETAILS
Yan Zhu
Coldwell Banker Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6121367
Last Updated: 08/22/2020
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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