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2875 E Linda Lane Gilbert, AZ 85234

5 Beds 3 Baths 2,898 sqft Built 2000

$585,000

List Price

$2,600

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 2000
  • Price/Sqft : $201.86
  • 4 Days on Market
  • MLS # : 6155756
  • Updated Date : 11/05/2020 at 22:09
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,898 sqft
  • Baths : 3 full
Listing Agent

Venture Rei, Llc

Listing Agent's Description

Pristine Residence in the Exclusive Higley Groves West n Ranch Subdivision in Gilbert! This immaculate 5 bed 3 bath, 2898 sq ft, 3 car garage*, lof home that is situated on a spacious 10,200 sq ft lot. This property boasts of upgrades galore! **TREE LINED STREETS** **DESIRABLE CORNER LOT** **PRIVATE PAVER TILE COURTYARD** **CUSTOM WOOD FLOORING** **RECESSED LIGHTING** **SPLIT FLOORPLAN** **FORMAL DINING ROOM** **LARGE GOURMET KITCHEN** **GRANITE COUNTERTOPS** **GAS STOVE** **BREAKFAST NOOK** **GAS FIREPLACE** **CEILING FANS THROUGHOUT** **SPACIOUS BEDROOMS** **WALK-IN MASTER CLOSET** **COVERED BACK PATIO** **SPA** **GAS FIRE PIT* **LARGE GRASSY AREA** **POOL WATER FEATURE** **RV GATE** **DIVING POOL** Close to great schools, freeways, shopping, and dining!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Higley Groves West

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $122k525k

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

Neighborhood: Higley Groves West

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400Rent in $10362570

* 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
Greenfield Elementary School Primary Regular 720 42 10
Greenfield Elementary School Middle Regular 720 42 10
Highland High School High Regular 3,065 123 8

Greenfield Elementary School

  • Education Level: Primary
  • # of students: 720
  • # of teachers: 42
10
GreatSchools Rating

Greenfield Elementary School

  • Education Level: Middle
  • # of students: 720
  • # of teachers: 42
10
GreatSchools Rating

Highland High School

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

$526,500$643,500$585,000

PURCHASE PRICE

$2,340$2,860$2,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,600
EXPENSES Loan Payment -$2,158
Property Tax -$347
Property Insurance -$84
HOA -$116
Property Management Fees -$99
CASH FLOW
-$204

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.

$585,000

PROJECTED PRICE

$2,600

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 2.9%
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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$160,775

INVESTMENT

$160,775

Down Payment
$146,250
Rehab Estimate
$5,750
Closing Costs
$8,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,158

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $146,250
Loan Amount $438,750
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$21,985

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,600

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,731

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$2,399
1$2,3992$2,4003$2,5404$2,6005$2,800
$2,800
RENT COMPS ANALYSIS
  • 2875 E Linda Lane Gilbert, AZ 4
    • 4 beds 3 baths ∙ 2,898 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,898 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.90
    •  
  • 3117 E Sagebrush Street Gilbert, AZ 1
    • 4 beds 3 baths ∙ 2,872 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,872 Sqft ∙ Built 2017
    LEASED 10/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,399
    • $0.84
    •  
  • 3150 E San Angelo Avenue Gilbert, AZ 2
    • 4 beds 3 baths ∙ 2,592 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,592 Sqft ∙ Built 2003
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.93
    •  
  • 981 N Balboa Drive Gilbert, AZ 3
    • 4 beds 2 baths ∙ 2,619 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,619 Sqft ∙ Built 2003
    LEASED 06/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,540
    • $0.97
    •  
  • 3094 E Marlene Drive Gilbert, AZ 5
    • 3 beds 3 baths ∙ 2,714 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,714 Sqft ∙ Built 2005
    LEASED 06/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.03
    •  
PROPERTY LISTING DETAILS
Frank Gerola
Venture Rei, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6155756
Last Updated: 11/05/2020
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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