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251 E Tremaine Avenue Gilbert, AZ 85234

3 Beds 2 Baths 1,696 sqft Built 1986

$374,900

List Price

$1,870

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $221.05
  • 2 Days on Market
  • MLS # : 6190716
  • Updated Date : 02/06/2021 at 18:55
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,696 sqft
  • Baths : 2 full
Listing Agent

Model Perfect Homes

Listing Agent's Description

MODEL PERFECT 3 BED, 2 BATH, 2 CAR GARAGE SINGLE HOME WITH PRIVATE POOL IN THE VERY DESIRABLE NEIGHBORHOOD OF BRECKENRIDGE MANOR FEATURING TALL PONDEROSA PINES THROUGHOUT. This Beautiful Home features New Paint inside & out, New Quartz Countertops, New Flooring, New Ceiling Fans Throughout. AMAZING THEATRE WITH BIG SCREEN, PROJECTION TV, 5-WAY SPEAKER SYSTEM ALL BUILT-IN ALL CONVEYS!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Breckenridge Manor

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k337k

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

Neighborhood: Breckenridge Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8721866

* 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
Gilbert High School High Regular 2,470 113 7
Mesquite Jr High School Middle Unknown NA

Mesquite Jr High School

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

Gilbert High School

  • Education Level: High
  • # of students: 2,470
  • # of teachers: 113
7
GreatSchools Rating

Mesquite Jr High School

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

$337,410$412,390$374,900

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$1,302
Property Tax -$220
Property Insurance -$60
HOA -$79
Property Management Fees -$99
CASH FLOW
$109

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$374,900

PROJECTED PRICE

$1,870

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,099

INVESTMENT

$105,099

Down Payment
$93,725
Rehab Estimate
$5,750
Closing Costs
$5,624

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,302

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,725
Loan Amount $281,175
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$32,197

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $1,891

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7503$1,8504$1,8505$1,870
$1,870
RENT COMPS ANALYSIS
  • 251 E Tremaine Avenue Gilbert, AZ 5
    • 3 beds 2 baths ∙ 1,696 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,696 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $1.10
    •  
  • 476 N Alder Court Gilbert, AZ 1
    • 3 beds 3 baths ∙ 1,572 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,572 Sqft ∙ Built 2005
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.08
    •  
  • 158 W Commerce Court #39 Gilbert, AZ 2
    • 3 beds 3 baths ∙ 1,572 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,572 Sqft ∙ Built 2004
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.11
    •  
  • 230 E Tremaine Avenue Gilbert, AZ 3
    • 3 beds 2 baths ∙ 1,696 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,696 Sqft ∙ Built 1985
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.09
    •  
  • 221 E Vaughn Avenue Gilbert, AZ 4
    • 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 1993
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.18
    •  
PROPERTY LISTING DETAILS
Rich Giddings
Model Perfect Homes
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6190716
Last Updated: 02/06/2021
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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