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2574 S Portland Avenue Gilbert, AZ 85295

3 Beds 2 Baths 1,351 sqft Built 2008

$369,999

List Price

$1,420

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $273.87
  • 5 Days on Market
  • MLS # : 6208262
  • Updated Date : 03/18/2021 at 14:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,351 sqft
  • Baths : 2 full
Listing Agent

Weichert, Realtors - Courtney Valleywide

Listing Agent's Description

Charming single family home in The Cove at Vincenz awaits its next loving owner! Situated on a secluded N/S lot in this well maintained community, you'll have plenty of privacy with magnificent sunset views. Inside, the open split floorplan & 9' ceilings make for a light, bright & spacious feel, with carpet & tile flooring in all the right places. Kitchen features granite slab counter tops with tile backsplash all the way up to ceiling for a nice aesthetic. Master bath has dual sink vanity w separate toilet room & walk-in closet. No maintenance backyard has covered patio & built-in fire pit w green turf. Within walking distance of park playground & the community center which features heated pool & spa, & located only a few minutes from San Tan Village Marketplace & with super easy access..

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Vincenz

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Vincenz

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9641981

* 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
Cooley Middle School Middle Unknown 915 39 NA
Williams Field High School High Regular 1,705 64 7

Cooley Middle School

  • Education Level: Middle
  • # of students: 915
  • # of teachers: 39
NA
GreatSchools Rating

Williams Field High School

  • Education Level: High
  • # of students: 1,705
  • # of teachers: 64
7
GreatSchools Rating
 

$332,999$406,999$369,999

PURCHASE PRICE

$1,278$1,562$1,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,420
EXPENSES Loan Payment -$1,285
Property Tax -$253
Property Insurance -$54
HOA -$112
Property Management Fees -$99
CASH FLOW
-$382

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.

$369,999

PROJECTED PRICE

$1,420

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.7%
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

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

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$103,800

INVESTMENT

$103,800

Down Payment
$92,500
Rehab Estimate
$5,750
Closing Costs
$5,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,285

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,500
Loan Amount $277,499
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$774

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
  • $1,425

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,4503$1,4504$1,7005$1,750
$1,750
RENT COMPS ANALYSIS
  • 2574 S Portland Avenue Gilbert, AZ 1
    • 3 beds 2 baths ∙ 1,351 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,351 Sqft ∙ Built 2008
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2754 S Sulley Drive #101 Gilbert, AZ 2
    • 3 beds 3 baths ∙ 1,330 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,330 Sqft ∙ Built 2008
    property image
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.09
    •  
  • 2728 S Sulley Drive #103 Gilbert, AZ 3
    • 3 beds 3 baths ∙ 1,345 Sqft ∙ Built 2009 3 beds 3 baths ∙ 1,345 Sqft ∙ Built 2009
    property image
    LEASED 02/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.08
    •  
  • 2456 E Vermont Drive Gilbert, AZ 4
    • 3 beds 3 baths ∙ 1,684 Sqft ∙ Built 2009 3 beds 3 baths ∙ 1,684 Sqft ∙ Built 2009
    property image
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.01
    •  
  • 2468 E Vermont Drive Gilbert, AZ 5
    • 3 beds 3 baths ∙ 1,684 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,684 Sqft ∙ Built 2008
    property image
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.04
    •  
PROPERTY LISTING DETAILS
Randy Courtney
Weichert, Realtors - Courtney Valleywide
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6208262
Last Updated: 03/18/2021
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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