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2663 S Sandstone Street Gilbert, AZ 85295

4 Beds 2 Baths 1,888 sqft Built 2004

$425,000

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $225.11
  • 3 Days on Market
  • MLS # : 6156857
  • Updated Date : 11/05/2020 at 21:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,888 sqft
  • Baths : 2 full
Listing Agent

Exp Realty

Listing Agent's Description

Beautiful single story modern home on corner lot in the highly desirable Spectrum at Val Vista Community in Gilbert. Open concept with kitchen that has all stainless steel appliances, granite countertops, upgraded cupboards and breakfast bar island. Large high quality tile in main areas and new wood tile in all 4 bedrooms. Both bathrooms match the kitchen cupboards and granite counter tops. 5 star energy certified with insulation and brand new A/C unit as of July 2020. Low maintenance and beautiful backyard with artificial turf includes a sparkling pool with waterfall features and colored night lighting as well as a built-in BBQ stainless steel grill with granite counter. No backyard neighbors and just one block walk to Spectrum Elementary School. Minutes from tons of shopping/dining

SEE MORE

PRICE & RENT TRENDS

Neighborhood: The Spectrum at Val Vista

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: The Spectrum at Val Vista

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9981981

* 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
Spectrum Elementary School Primary Regular 713 41 8
South Valley Jr. High School Middle Regular 1,193 53 9
Campo Verde High School High Regular 2,094 86 8

Spectrum Elementary School

  • Education Level: Primary
  • # of students: 713
  • # of teachers: 41
8
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
 

$382,500$467,500$425,000

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,568
Property Tax -$260
Property Insurance -$64
HOA -$24
Property Management Fees -$99
CASH FLOW
-$265

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.

$425,000

PROJECTED PRICE

$1,750

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.8%
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

PROJECTED ANNUAL CASH FLOW

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

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$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,568

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$9,111

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,836

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7503$1,7504$1,7505$1,775
$1,775
RENT COMPS ANALYSIS
  • 2663 S Sandstone Street Gilbert, AZ 4
    • 4 beds 2 baths ∙ 1,888 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,888 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.93
    •  
  • 2485 S Marble Street Gilbert, AZ 1
    • 3 beds 2 baths ∙ 1,837 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,837 Sqft ∙ Built 2004
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.92
    •  
  • 1161 E Boston Street Gilbert, AZ 2
    • 3 beds 3 baths ∙ 1,757 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,757 Sqft ∙ Built 2008
    property image
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.00
    •  
  • 1212 E Canyon Creek Drive Gilbert, AZ 3
    • 3 beds 3 baths ∙ 1,757 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,757 Sqft ∙ Built 2007
    property image
    LEASED 10/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.00
    •  
  • 2768 S Sailors Way Gilbert, AZ 5
    • 3 beds 3 baths ∙ 1,837 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,837 Sqft ∙ Built 2004
    property image
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.97
    •  
PROPERTY LISTING DETAILS
Sara A Reid
Exp Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6156857
Last Updated: 11/05/2020
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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