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PROPERTY INFO
FACTS
- Single Family
- Built In 1994
- Price/Sqft : $245.35
- 2 Days on Market
- MLS # : 6190940
- Updated Date : 02/06/2021 at 19:28
CONSTRUCTION
- Beds : 3
- Floor Size : 1,504 sqft
- Baths : 2 full , 1 half
Listing Agent
Homie
Listing Agent's Description
Come see this great home near downtown Gilbert in the heritage district. Recently upgraded, 3 bedrooms 2.5 bath with an oversized master. Endless counter space and storage in kitchen. Living room has incredible light with vaulted ceilings over 20 feet, a fireplace, and a rock wall. Corner lot means a big grassy backyard, plus an rv/ toy pad and rv gate. Take a trip over the new bridge just outside the neighborhood and enjoy a meal at one of the fantastic restaurants downtown!
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PRICE & RENT TRENDS
Neighborhood: Ridgewood by Shea
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Ridgewood by Shea
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,490 |
| EXPENSES | Loan Payment | -$1,282 |
| Property Tax | -$217 | |
| Property Insurance | -$57 | |
| HOA | -$17 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$182
|
||
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.
$369,000
PROJECTED PRICE
$1,490
PROJECTED RENT
0.40%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.32% |
| Appreciation Year (1-5) | 5.4% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.56% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$103,535
LOAN DETAILS
$1,282
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $92,250 |
| Loan Amount | $276,750 |
3.08
YEARS SAVED
$8,988
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,490
LIST RENT -
$0.99
LIST RENT PER SQFT
-
$1,557
COMP ESTIMATED VALUE -
$1.04
COMP AVG. RENT PER SQFT
Comps Range
-
28 N Birch Street Gilbert, AZ 1
- 3 beds 3 baths ∙ 1,504 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,504 Sqft ∙ Built 1994
- Rent
- Rent Per SQFT
- $1,490
- $0.99
-
163 W Sagebrush Street Gilbert, AZ 2
- 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 1996
LEASED 01/01/21- Rent
- Rent Per SQFT
- $1,595
- $0.96
-
432 W Century Court Gilbert, AZ 3
- 3 beds 2 baths ∙ 1,624 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,624 Sqft ∙ Built 1997
LEASED 10/01/20- Rent
- Rent Per SQFT
- $1,650
- $1.02
-
476 N Alder Court Gilbert, AZ 4
- 3 beds 3 baths ∙ 1,572 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,572 Sqft ∙ Built 2005
LEASED 04/01/20- Rent
- Rent Per SQFT
- $1,695
- $1.08
-
180 W Sagebrush Street Gilbert, AZ 5
- 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 1996
LEASED 06/01/20- Rent
- Rent Per SQFT
- $1,800
- $1.08
PROPERTY LISTING DETAILS
Homie
1.866.250.5610
Mynd Property Management
LC664597000
MLS #: 6190940
Last Updated: 02/06/2021
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.
