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290 N Loback Lane Gilbert, AZ 85234

3 Beds 3 Baths 2,096 sqft Built 1997

$389,900

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 09, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $186.02
  • 5 Days on Market
  • MLS # : 6169477
  • Updated Date : 12/09/2020 at 16:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,096 sqft
  • Baths : 2 full , 1 half
Listing Agent

Sgi Property Mngmnt/real Estate

Listing Agent's Description

Spacious 3 bedroom, 2 bathroom and loft with private pool!! Fantastic open floor plan with vaulted ceilings, huge loft, and walk in closet! This home is in a great location close to parks, freeways, shopping centers and restaurants! Call us today!!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Holliday Farms

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $122k361k

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

Neighborhood: Holliday Farms

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10361981

* 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
Highland Park Elementary School Primary Regular 907 48 9
Highland Park Elementary School Middle Regular 907 48 9
Highland High School High Regular 3,065 123 8

Highland Park Elementary School

  • Education Level: Primary
  • # of students: 907
  • # of teachers: 48
9
GreatSchools Rating

Highland Park Elementary School

  • Education Level: Middle
  • # of students: 907
  • # of teachers: 48
9
GreatSchools Rating

Highland High School

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

$350,910$428,890$389,900

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$1,439
Property Tax -$231
Property Insurance -$68
HOA -$12
Property Management Fees -$99
CASH FLOW
-$179

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.

$389,900

PROJECTED PRICE

$1,670

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.5%
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

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$109,074

INVESTMENT

$109,074

Down Payment
$97,475
Rehab Estimate
$5,750
Closing Costs
$5,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,439

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $97,475
Loan Amount $292,425
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$12,539

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,871

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,670
1$1,6702$1,7503$1,8504$1,9955$1,995
$1,995
RENT COMPS ANALYSIS
  • 290 N Loback Lane Gilbert, AZ 1
    • 3 beds 3 baths ∙ 2,096 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,096 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.80
    •  
  • 3946 E Page Avenue Gilbert, AZ 2
    • 4 beds 3 baths ∙ 2,096 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,096 Sqft ∙ Built 1997
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.83
    •  
  • 4357 E Vaughn Avenue Gilbert, AZ 3
    • 3 beds 3 baths ∙ 2,147 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,147 Sqft ∙ Built 2006
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.86
    •  
  • 3636 E Bruce Avenue Gilbert, AZ 4
    • 4 beds 3 baths ∙ 2,127 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,127 Sqft ∙ Built 2001
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.94
    •  
  • 3616 E Linda Lane Gilbert, AZ 5
    • 4 beds 3 baths ∙ 2,127 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,127 Sqft ∙ Built 2000
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.94
    •  
PROPERTY LISTING DETAILS
Jessica Wyman
Sgi Property Mngmnt/real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6169477
Last Updated: 12/09/2020
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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