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28 N Birch Street Gilbert, AZ 85233

3 Beds 3 Baths 1,504 sqft Built 1994

$369,000

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
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!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Ridgewood by Shea

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $83k337k

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

Neighborhood: Ridgewood by Shea

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441866

* 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
Mesquite Jr High School Middle Regular 715 34 7
Mesquite High School High Regular 2,000 82 6
Mesquite Jr High School Middle Unknown NA

Mesquite Jr High School

  • Education Level: Middle
  • # of students: 715
  • # of teachers: 34
7
GreatSchools Rating

Mesquite High School

  • Education Level: High
  • # of students: 2,000
  • # of teachers: 82
6
GreatSchools Rating

Mesquite Jr High School

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

$332,100$405,900$369,000

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$103,535

INVESTMENT

$103,535

Down Payment
$92,250
Rehab Estimate
$5,750
Closing Costs
$5,535

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,282

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,250
Loan Amount $276,750
See What Happens When You Reinvest Cash Flow

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
$1,490
1$1,4902$1,5953$1,6504$1,6955$1,800
$1,800
RENT COMPS ANALYSIS
  • 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
Carole Hewitt
Homie
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6190940
Last Updated: 02/06/2021
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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