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249 W Smoke Tree Road Gilbert, AZ 85233

4 Beds 3 Baths 2,598 sqft Built 1993

$500,000

List Price

$2,270

$2K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $192.46
  • 3 Days on Market
  • MLS # : 6209796
  • Updated Date : 03/20/2021 at 22:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,598 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Realty Sonoran Living

Listing Agent's Description

Here's the perfect Gilbert home you've been waiting for!!! 4 full beds and 3 baths (one downstairs)! Large low maintenance yard with artificial turf, pebble pool, putting green, built-in BBQ & faux flagstone decking! Large covered patio with 2 fans & security screen door. This updated home welcomes you with vaulted ceilings and formal living/dining room at the front. Back of home boasts a large family room open to the kitchen with granite counters and newer appliances and walk-in pantry. Gorgeous wood-tile floors and newer carpet t/o. Two tone paint, plantation shutters and 2'' blinds. All new energy efficient double pane windows in 2015!! Good sized secondary bedrooms and ALL bathrooms have been remodeled and are gorgeous! Jack-n-Jill bath w/upstairs bedrooms.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Lago Estancia

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Lago Estancia

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9751981

* 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
Mesquite Jr High School Middle Regular 715 34 7
Mesquite High School High Regular 2,000 82 6
Mesquite Jr High School Middle Unknown NA

Mesquite Jr High School

  • Education Level: Middle
  • # of students: 715
  • # of teachers: 34
7
GreatSchools Rating

Mesquite High School

  • Education Level: High
  • # of students: 2,000
  • # of teachers: 82
6
GreatSchools Rating

Mesquite Jr High School

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

$450,000$550,000$500,000

PURCHASE PRICE

$2,043$2,497$2,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,270
EXPENSES Loan Payment -$1,737
Property Tax -$294
Property Insurance -$78
HOA -$71
Property Management Fees -$99
CASH FLOW
-$9

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.

$500,000

PROJECTED PRICE

$2,270

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.2%
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$1.6M

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,250

INVESTMENT

$138,250

Down Payment
$125,000
Rehab Estimate
$5,750
Closing Costs
$7,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,737

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $125,000
Loan Amount $375,000
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$27,056

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
  • $2,533

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,1503$2,3504$2,3755$2,495
$2,495
RENT COMPS ANALYSIS
  • 249 W Smoke Tree Road Gilbert, AZ 1
    • 4 beds 3 baths ∙ 2,598 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,598 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 298 E Jasper Court Gilbert, AZ 2
    • 4 beds 3 baths ∙ 2,443 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,443 Sqft ∙ Built 1998
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.88
    •  
  • 85 W Sheffield Avenue Gilbert, AZ 3
    • 4 beds 2 baths ∙ 2,374 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,374 Sqft ∙ Built 1998
    LEASED 11/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.99
    •  
  • 687 S Sahuaro Drive Gilbert, AZ 4
    • 3 beds 3 baths ∙ 2,299 Sqft ∙ Built 1993 3 beds 3 baths ∙ 2,299 Sqft ∙ Built 1993
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,375
    • $1.03
    •  
  • 1118 W Newport Beach Drive Gilbert, AZ 5
    • 4 beds 3 baths ∙ 2,493 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,493 Sqft ∙ Built 1987
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.00
    •  
PROPERTY LISTING DETAILS
John A Sposato
Keller Williams Realty Sonoran Living
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6209796
Last Updated: 03/20/2021
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. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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