Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2380 S Granite Street Gilbert, AZ 85295

4 Beds 2 Baths 2,278 sqft Built 1998

$479,000

List Price

$2,010

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $210.27
  • 2 Days on Market
  • MLS # : 6182084
  • Updated Date : 01/16/2021 at 20:57
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,278 sqft
  • Baths : 2 full
Listing Agent

West Usa Realty

Listing Agent's Description

Located in the heart of Gilbert !!! Single level good size 4 bedroom/2bath home offers a split floor plan, upgraded kitchen and kitchen island with granite counter tops with an open concept into the living room, fireplace, formal dining area, wood and carpet flooring throughout, formal living area, 3-car garage with storage cabinets, RV Gate, a gorgeous backyard with pool, built in BBQ and covered patio where you can enjoy our sunny summer days, perfect for entertaining. So come and view your new home today!!

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

$1,809$2,211$2,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,010
EXPENSES Loan Payment -$1,664
Property Tax -$284
Property Insurance -$72
HOA -$70
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.

$479,000

PROJECTED PRICE

$2,010

PROJECTED RENT

0.42%

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$1.4M

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.

$1,664

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $119,750
Loan Amount $359,250
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$13,614

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,010

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $2,022

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8503$1,8504$2,0105$2,350
$2,350
RENT COMPS ANALYSIS
  • 2380 S Granite Street Gilbert, AZ 4
    • 4 beds 2 baths ∙ 2,278 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,278 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,010
    • $0.88
    •  
  • 1674 E Joseph Way Gilbert, AZ 1
    • 4 beds 4 baths ∙ 2,102 Sqft ∙ Built 2006 4 beds 4 baths ∙ 2,102 Sqft ∙ Built 2006
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.86
    •  
  • 1696 E Joseph Way Gilbert, AZ 2
    • 4 beds 4 baths ∙ 2,260 Sqft ∙ Built 2006 4 beds 4 baths ∙ 2,260 Sqft ∙ Built 2006
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.82
    •  
  • 2263 S Nielson Street Gilbert, AZ 3
    • 3 beds 2 baths ∙ 2,136 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,136 Sqft ∙ Built 2000
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.87
    •  
  • 1238 E Eli Court Gilbert, AZ 5
    • 4 beds 2 baths ∙ 2,350 Sqft ∙ Built 1999 4 beds 2 baths ∙ 2,350 Sqft ∙ Built 1999
    LEASED 06/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.00
    •  
PROPERTY LISTING DETAILS
Carlos C. Martinez
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6182084
Last Updated: 01/16/2021
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.

BESbswy