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2208 E Beachcomber Drive Gilbert, AZ 85234

4 Beds 3 Baths 2,418 sqft Built 1991

INVESTimate

$488,000

List Price

$2,220

$1,998 - $2,442

Rent Est.

$512,351  ( +4.99%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1991
  • Price/Sqft : $201.82
  • 2 Days on Market
  • MLS # : 6121992
  • Updated Date : 08/25/2020 at 16:43
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,418 sqft
  • Baths : 2 full , 1 half
Listing Agent

The Agency

Listing Agent's Description

Lake Views! Gorgeous open floor plan with three car garage in the desirable Val Vista Lakes. This home has been meticulously maintained by one owner and it shows. Enter your new home with beautiful wood look porcelain tile and the fourth room as a den with double doors, easily able to convert back to a bedroom. Vaulted ceilings throughout, The kitchen with quartz countertops overlooking the living room and fireplace, perfect for entertaining. The backyard is a dream with real grass and garden area with playground. A brand new raised porch/deck area allows for you to sit and enjoy the view of the lake all year round. You will have access to all Val Vista Lake amenities including the clubhouse with a heated pool and sand beach pool/lagoon, Tennis and racquetball, weight rooms and much more!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Val Vista Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $122k406k

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

Neighborhood: Val Vista Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000210022002300Rent in $10362325

* 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
 

$439,200$536,800$488,000

PURCHASE PRICE

$1,998$2,442$2,220

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,220
EXPENSES Loan Payment -$1,801
Property Tax -$287
Property Insurance -$74
HOA -$92
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.

$488,000

PROJECTED PRICE

$2,220

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.99%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$135,070

INVESTMENT

$135,070

Down Payment
$122,000
Rehab Estimate
$5,750
Closing Costs
$7,320

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,801

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $122,000
Loan Amount $366,000
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$21,466

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,220

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $2,442

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$2,220
1$2,2202$2,3003$2,5004$2,5955$2,700
$2,700
RENT COMPS ANALYSIS
  • 2208 E Beachcomber Drive Gilbert, 1
    • 4 beds 3 baths ∙ 2,418 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,418 Sqft ∙ Built 1991
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,220
    • $0.92
    •  
  • 2174 E New Bedford Drive Gilbert, 2
    • 5 beds 3 baths ∙ 2,527 Sqft ∙ Built 1988 5 beds 3 baths ∙ 2,527 Sqft ∙ Built 1988
    property image
    LEASED 11/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.91
    •  
  • 1008 N Plymouth Court Gilbert, 3
    • 4 beds 3 baths ∙ 2,527 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,527 Sqft ∙ Built 1986
    property image
    LEASED 09/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.99
    •  
  • 1156 N Fiji Way Gilbert, 4
    • 5 beds 3 baths ∙ 2,538 Sqft ∙ Built 1991 5 beds 3 baths ∙ 2,538 Sqft ∙ Built 1991
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $1.02
    •  
  • 1219 N Jamaica Way Gilbert, 5
    • 4 beds 3 baths ∙ 2,418 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,418 Sqft ∙ Built 1992
    property image
    LEASED 10/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.12
    •  
PROPERTY LISTING DETAILS
Brittany L Knowles
The Agency
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6121992
Last Updated: 08/25/2020
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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