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2688 E Calle Del Norte Drive Gilbert, AZ 85296

4 Beds 3 Baths 1,796 sqft Built 2000

$385,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

December 02, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $214.37
  • 5 Days on Market
  • MLS # : 6166776
  • Updated Date : 12/05/2020 at 10:12
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,796 sqft
  • Baths : 3 full
Listing Agent

Re/max Sun Properties

Listing Agent's Description

Incredible move-in ready two story Gilbert home available on a highly sought after golf course lot in Greenfield Lakes. Beautiful inside and out this gem offers 4 bedrooms, 3 bathrooms and a spacious great room floor plan, perfect for gathering friends and family. Soaring ceilings, warm paint tones, and attractive staggered tile flooring in all of the right places. Stylish open concept kitchen will delight any chef with gas cooking, ss appliances and granite counters. 1 bedroom and full bath downstairs. Remaining bedrooms are upstairs including the master with a private ensuite. Amazing backyard on the13th hole and makes a great entertaining space. Impress your guests with a beverage on the covered patio or a refreshing dip in the private pool. New A/C in July, 2020. This gem has it all.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Greenfield Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Greenfield Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9671981

* 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
Higley Traditional Academy Primary Regular 645 29 9
Higley Traditional Academy Middle Regular 645 29 9
Williams Field High School High Regular 1,705 64 7

Higley Traditional Academy

  • Education Level: Primary
  • # of students: 645
  • # of teachers: 29
9
GreatSchools Rating

Higley Traditional Academy

  • Education Level: Middle
  • # of students: 645
  • # of teachers: 29
9
GreatSchools Rating

Williams Field High School

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

$346,500$423,500$385,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,420
Property Tax -$263
Property Insurance -$62
HOA -$17
Property Management Fees -$99
CASH FLOW
-$161

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.

$385,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.9%
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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$107,775

INVESTMENT

$107,775

Down Payment
$96,250
Rehab Estimate
$5,750
Closing Costs
$5,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,420

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $96,250
Loan Amount $288,750
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$13,050

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,742

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7003$1,7954$1,8955$2,000
$2,000
RENT COMPS ANALYSIS
  • 2688 E Calle Del Norte Drive Gilbert, AZ 2
    • 4 beds 3 baths ∙ 1,796 Sqft ∙ Built 2000 4 beds 3 baths ∙ 1,796 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.95
    •  
  • 2591 E Brooks Street Gilbert, AZ 1
    • 4 beds 3 baths ∙ 1,796 Sqft ∙ Built 1999 4 beds 3 baths ∙ 1,796 Sqft ∙ Built 1999
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.94
    •  
  • 954 S Parkcrest Street Gilbert, AZ 3
    • 3 beds 2 baths ∙ 1,967 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,967 Sqft ∙ Built 2000
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.91
    •  
  • 1035 S Parkcrest Street Gilbert, AZ 4
    • 3 beds 2 baths ∙ 1,917 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,917 Sqft ∙ Built 1999
    property image
    LEASED 06/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.99
    •  
  • 2655 E Estrella Street Gilbert, AZ 5
    • 4 beds 2 baths ∙ 1,917 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,917 Sqft ∙ Built 1998
    property image
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.04
    •  
PROPERTY LISTING DETAILS
Kristy Coup
Re/max Sun Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6166776
Last Updated: 12/05/2020
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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