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22706 S 174th Place Gilbert, AZ 85298

4 Beds 3 Baths 3,702 sqft Built 2006

$775,000

List Price

$2,750

$2.5K - $3K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $209.35
  • 3 Days on Market
  • MLS # : 6155339
  • Updated Date : 11/20/2020 at 16:34
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,702 sqft
  • Baths : 2 full , 1 half
Listing Agent

Diamond Point Realty

Listing Agent's Description

Welcome to your country dream home! Set in the perfect South Gilbert location this horse property sits on 1.02 IRRIGATED acres of county island. This home has it all with four oversized bedrooms plus an office, BRAND NEW A/C units, newly painted exterior, two RV gates, four horse stalls, an arena, citrus trees, a large backyard with swing set, and a grassy area with a beautiful large tree perfect for swinging or maybe even a treehouse! Inside you will find formal living and dining rooms, a family room, eat in kitchen with upgraded cabinets, granite counter tops, a window over the sink and newer appliances including double ovens and cooktop. The office features built-in cabinets, a desk and separate entrance. The master bath has double sinks, a separate makeup area, large walk-in closet...

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Queen Creek

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $122k403k

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

Neighborhood: Queen Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10361981

* 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
Auxier Elementary School Primary Regular NA
Casteel High School Middle Regular NA
Casteel High School High Regular NA

Auxier Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Casteel High School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Casteel High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$697,500$852,500$775,000

PURCHASE PRICE

$2,475$3,025$2,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,750
EXPENSES Loan Payment -$2,859
Property Tax -$479
Property Insurance -$99
Property Management Fees -$99
CASH FLOW
-$786

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.

$775,000

PROJECTED PRICE

$2,750

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.0%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$211,125

INVESTMENT

$211,125

Down Payment
$193,750
Rehab Estimate
$5,750
Closing Costs
$11,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,859

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $193,750
Loan Amount $581,250
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$3,902

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
  • $2,980

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,5953$2,6504$2,7505$3,250
$3,250
RENT COMPS ANALYSIS
  • 22706 S 174th Place Gilbert, AZ 1
    • 4 beds 3 baths ∙ 3,702 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,702 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3541 E Eleana Lane Gilbert, AZ 2
    • 5 beds 3 baths ∙ 3,389 Sqft ∙ Built 2005 5 beds 3 baths ∙ 3,389 Sqft ∙ Built 2005
    LEASED 01/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.77
    •  
  • 3296 E Tonto Court Gilbert, AZ 3
    • 5 beds 3 baths ∙ 3,389 Sqft ∙ Built 2007 5 beds 3 baths ∙ 3,389 Sqft ∙ Built 2007
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.78
    •  
  • 3518 E Eleana Lane Gilbert, AZ 4
    • 5 beds 3 baths ∙ 3,389 Sqft ∙ Built 2005 5 beds 3 baths ∙ 3,389 Sqft ∙ Built 2005
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.81
    •  
  • 5972 S Mack Court Gilbert, AZ 5
    • 5 beds 4 baths ∙ 3,758 Sqft ∙ Built 2006 5 beds 4 baths ∙ 3,758 Sqft ∙ Built 2006
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $0.86
    •  
PROPERTY LISTING DETAILS
Kristina Rice
Diamond Point Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6155339
Last Updated: 11/20/2020
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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