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2732 E Tamarisk Street Gilbert, AZ 85296

5 Beds 3 Baths 3,688 sqft Built 2004

INVESTimate

$625,000

List Price

$2,360

$2,124 - $2,596

Rent Est.

$671,813  ( +7.49%)   1 YR EST. FORECAST

PROPERTY INFO

August 26, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $169.47
  • 1 Days on Market
  • MLS # : 6122628
  • Updated Date : 08/25/2020 at 22:07
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,688 sqft
  • Baths : 3 full
Listing Agent

Homesmart

Listing Agent's Description

Remodeled 5 bed, 3 bath basement home in the highly sought-after community of Agritopia featuring tree lined streets with restaurants and shops within walking distance. This home has been updated with over $100k in updates and features elegant living at its finest. Hardwood and travertine throughout with a fireplace to unwind after a long day. Relax in your soaker tub while your family enjoys a movie in the theatre room. This home features a sparkling pool w/waterfall and misters to enjoy. The owners have taken great care of this home and have made it move-in ready by remodeling and updating to include; a new AC unit, dishwasher, carpet in all rooms, pool equipment, water heater, water softener, sun shades and a wrought iron security door and much more. Located in the heart of Gilbert!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Agritopia

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $122k414k

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

Neighborhood: Agritopia

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10362215

* 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
 

$562,500$687,500$625,000

PURCHASE PRICE

$2,124$2,596$2,360

RENT

DOWN PAYMENT
FINANCING

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-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,360
EXPENSES Loan Payment -$2,306
Property Tax -$427
Property Insurance -$99
HOA -$168
Property Management Fees -$99
CASH FLOW
-$739

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.

$625,000

PROJECTED PRICE

$2,360

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 7.49%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$171,375

INVESTMENT

$171,375

Down Payment
$156,250
Rehab Estimate
$5,750
Closing Costs
$9,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,306

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $156,250
Loan Amount $468,750
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$775

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
  • $2,453

    COMP ESTIMATED VALUE
  • $0.67

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,2953$2,3004$2,3005$2,800
$2,800
RENT COMPS ANALYSIS
  • 2732 E Tamarisk Street Gilbert, 1
    • 5 beds 3 baths ∙ 3,688 Sqft ∙ Built 2004 5 beds 3 baths ∙ 3,688 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3285 E Franklin Avenue Gilbert, 2
    • 5 beds 4 baths ∙ 3,362 Sqft ∙ Built 2008 5 beds 4 baths ∙ 3,362 Sqft ∙ Built 2008
    LEASED 06/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.68
    •  
  • 2925 E Cathy Drive Gilbert, 3
    • 4 beds 3 baths ∙ 3,597 Sqft ∙ Built 2000 4 beds 3 baths ∙ 3,597 Sqft ∙ Built 2000
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.64
    •  
  • 1020 S Roles Drive Gilbert, 4
    • 5 beds 3 baths ∙ 3,597 Sqft ∙ Built 2000 5 beds 3 baths ∙ 3,597 Sqft ∙ Built 2000
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.64
    •  
  • 2124 S Stuart Avenue Gilbert, 5
    • 5 beds 4 baths ∙ 4,015 Sqft ∙ Built 2001 5 beds 4 baths ∙ 4,015 Sqft ∙ Built 2001
    LEASED 07/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.70
    •  
PROPERTY LISTING DETAILS
Christopher M Gloor
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6122628
Last Updated: 08/25/2020
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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