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2683 E Gemini Street Gilbert, AZ 85234

5 Beds 3 Baths 3,251 sqft Built 1994

$714,000

List Price

$2,920

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $219.62
  • 4 Days on Market
  • MLS # : 6186670
  • Updated Date : 01/28/2021 at 17:03
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,251 sqft
  • Baths : 3 full
Listing Agent

Flat List Re

Listing Agent's Description

5 bed 3 bath home near Riparian Preserve and canal walkways. End of a cul-de-sac, this home offers privacy with beautiful landscaped Ficus trees in private backyard retreat with huge pool, built-in BBQ, and long covered patio. Features kitchen skylight and windows to allow natural light. Granite countertops backsplash, and TWO dishwashers! Master bath has jetted tub. 2 separate sheds in the back. Extended driveway for parking.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Carriage Parc Estates

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $122k603k

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

Neighborhood: Carriage Parc Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400Rent in $10362585

* 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
Highland Jr High School Middle Regular 1,269 59 8
Highland High School High Regular 3,065 123 8
Highland Jr High School Middle Unknown NA

Highland Jr High School

  • Education Level: Middle
  • # of students: 1,269
  • # of teachers: 59
8
GreatSchools Rating

Highland High School

  • Education Level: High
  • # of students: 3,065
  • # of teachers: 123
8
GreatSchools Rating

Highland Jr High School

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

$642,600$785,400$714,000

PURCHASE PRICE

$2,628$3,212$2,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,920
EXPENSES Loan Payment -$2,480
Property Tax -$420
Property Insurance -$91
HOA -$44
Property Management Fees -$99
CASH FLOW
-$213

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.

$714,000

PROJECTED PRICE

$2,920

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.1%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$194,960

INVESTMENT

$194,960

Down Payment
$178,500
Rehab Estimate
$5,750
Closing Costs
$10,710

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$2,480

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $178,500
Loan Amount $535,500
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$24,174

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,920

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $3,186

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$2,495
1$2,4952$2,6003$2,9204$3,6505$3,800
$3,800
RENT COMPS ANALYSIS
  • 2683 E Gemini Street Gilbert, AZ 3
    • 5 beds 3 baths ∙ 3,251 Sqft ∙ Built 1994 5 beds 3 baths ∙ 3,251 Sqft ∙ Built 1994
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,920
    • $0.90
    •  
  • 1678 E Linda Lane Gilbert, AZ 1
    • 4 beds 3 baths ∙ 2,903 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,903 Sqft ∙ Built 2000
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.86
    •  
  • 1758 E Marquette Drive Gilbert, AZ 2
    • 5 beds 3 baths ∙ 2,983 Sqft ∙ Built 1996 5 beds 3 baths ∙ 2,983 Sqft ∙ Built 1996
    property image
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.87
    •  
  • 2526 E Park Avenue Gilbert, AZ 4
    • 5 beds 4 baths ∙ 3,539 Sqft ∙ Built 2001 5 beds 4 baths ∙ 3,539 Sqft ∙ Built 2001
    property image
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,650
    • $1.03
    •  
  • 2027 E Catamaran Drive Gilbert, AZ 5
    • 4 beds 3 baths ∙ 3,271 Sqft ∙ Built 1988 4 beds 3 baths ∙ 3,271 Sqft ∙ Built 1988
    property image
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.16
    •  
PROPERTY LISTING DETAILS
Stacie C Whitfield
Flat List Re
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6186670
Last Updated: 01/28/2021
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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