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2265 S Red Rock Street Gilbert, AZ 85295

4 Beds 2 Baths 2,471 sqft Built 1999

$479,000

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $193.85
  • 2 Days on Market
  • MLS # : 6173114
  • Updated Date : 12/19/2020 at 01:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,471 sqft
  • Baths : 2 full
Listing Agent

Realty One Group

Listing Agent's Description

Welcome home to this rare Gilbert property, with immaculate upgrades and located near San Tan Village Mall and Top Golf, this location has it all. Home has 4 bedrooms and 2 bathrooms with a dedicated dining room and sitting area, as well as upgraded kitchen cabinets, granite countertops, and walk-in pantry, with an open layout and vaulted ceilings, plantation shutters on all windows, and upgraded travertine tile shower in master bath. This single-level home is situated on a larger lot with RV gate and full garden in backyard, and the 3 car garage has been repurposed to include a full size bar, with upgrades including ceiling fans and insulated garage doors. This home won't last long, so schedule a showing today before it's gone!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Gilbert Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Gilbert Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8611981

* 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
Ashland Ranch Elementary School Primary Regular 776 44 7
South Valley Jr. High School Middle Regular 1,193 53 9
Campo Verde High School High Regular 2,094 86 8

Ashland Ranch Elementary School

  • Education Level: Primary
  • # of students: 776
  • # of teachers: 44
7
GreatSchools Rating

South Valley Jr. High School

  • Education Level: Middle
  • # of students: 1,193
  • # of teachers: 53
9
GreatSchools Rating

Campo Verde High School

  • Education Level: High
  • # of students: 2,094
  • # of teachers: 86
8
GreatSchools Rating
 

$431,100$526,900$479,000

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,767
Property Tax -$284
Property Insurance -$75
HOA -$66
Property Management Fees -$99
CASH FLOW
-$322

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.

$479,000

PROJECTED PRICE

$1,970

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.9%
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-$5.0k$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$132,685

INVESTMENT

$132,685

Down Payment
$119,750
Rehab Estimate
$5,750
Closing Costs
$7,185

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,767

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $119,750
Loan Amount $359,250
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$8,451

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,970

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,952

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8503$1,8954$1,9705$1,975
$1,975
RENT COMPS ANALYSIS
  • 2265 S Red Rock Street Gilbert, AZ 4
    • 4 beds 2 baths ∙ 2,471 Sqft ∙ Built 1999 4 beds 2 baths ∙ 2,471 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $0.80
    •  
  • 2660 S Sailors Way Gilbert, AZ 1
    • 4 beds 3 baths ∙ 2,430 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,430 Sqft ∙ Built 2005
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.76
    •  
  • 2697 S Sailors Way Gilbert, AZ 2
    • 3 beds 3 baths ∙ 2,460 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,460 Sqft ∙ Built 2004
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.75
    •  
  • 2663 S Sailors Way Gilbert, AZ 3
    • 4 beds 3 baths ∙ 2,430 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,430 Sqft ∙ Built 2004
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.78
    •  
  • 1445 E Toledo Street Gilbert, AZ 5
    • 3 beds 2 baths ∙ 2,278 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,278 Sqft ∙ Built 1999
    LEASED 09/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.87
    •  
PROPERTY LISTING DETAILS
Jeremy R Manning
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6173114
Last Updated: 12/19/2020
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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