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2910 S Colonial Street Gilbert, AZ 85295

5 Beds 3 Baths 3,167 sqft Built 2004

INVESTimate

$520,000

List Price

$2,360

$2,124 - $2,596

Rent Est.

$550,316  ( +5.83%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $164.19
  • 2 Days on Market
  • MLS # : 6122097
  • Updated Date : 08/25/2020 at 17:03
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,167 sqft
  • Baths : 3 full
Listing Agent

Conway Real Estate

Listing Agent's Description

The Only One Available in Spectrum - Ashton Woods Vanderbilt Model w/Custom Stone Accents has everything & more! View Lot, Courtyard, 5 Beds (1 down) 3 Full Baths (1 down), +Loft, 3 Car Garage with NEMA 220 Plug for Charging Electric Vehicle, Sparkling Pebble Sheen Pool w/Waterfall, RV Gate, Lg Eat-in Kitchen w/Granite Counters, Island & Walk-in Pantry. Inside Laundry. Master Suite w/Private Balcony, Dual Sinks, Lg Walk-in Closet. Upgraded Wrought Iron & Oak Banister. *BONUS* Whole Home Solar Sys offers Huge Utility Bill $avings (see Solar info in documents tab). Beautiful Views from Backyard & Balconies. Built-in Sound Sys, Putting Green, Community Offers; Biking/Walking Paths, Playground, Volleyball, Tennis Courts and more...

SEE MORE

PRICE & RENT TRENDS

Neighborhood: The Spectrum at Val Vista

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: The Spectrum at Val Vista

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9981981

* 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
Spectrum Elementary School Primary Regular 713 41 8
South Valley Jr. High School Middle Regular 1,193 53 9
Campo Verde High School High Regular 2,094 86 8

Spectrum Elementary School

  • Education Level: Primary
  • # of students: 713
  • # of teachers: 41
8
GreatSchools Rating

South Valley Jr. High School

  • Education Level: Middle
  • # of students: 1,193
  • # of teachers: 53
9
GreatSchools Rating

Campo Verde High School

  • Education Level: High
  • # of students: 2,094
  • # of teachers: 86
8
GreatSchools Rating
 

$468,000$572,000$520,000

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$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,360
EXPENSES Loan Payment -$1,919
Property Tax -$318
Property Insurance -$89
HOA -$72
Property Management Fees -$99
CASH FLOW
-$136

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.

$520,000

PROJECTED PRICE

$2,360

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.83%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$143,550

INVESTMENT

$143,550

Down Payment
$130,000
Rehab Estimate
$5,750
Closing Costs
$7,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,919

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $130,000
Loan Amount $390,000
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$23,283

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,360

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $2,629

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,975
1$1,9752$2,3603$2,4004$2,5005$2,700
$2,700
RENT COMPS ANALYSIS
  • 2910 S Colonial Street Gilbert, 2
    • 5 beds 3 baths ∙ 3,167 Sqft ∙ Built 2004 5 beds 3 baths ∙ 3,167 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,360
    • $0.75
    •  
  • 1281 E Hampton Lane Gilbert, 1
    • 4 beds 3 baths ∙ 2,824 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,824 Sqft ∙ Built 2004
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.70
    •  
  • 953 E Boston Street Gilbert, 3
    • 4 beds 3 baths ∙ 2,826 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,826 Sqft ∙ Built 2013
    LEASED 09/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.85
    •  
  • 1547 E Erie Street Gilbert, 4
    • 5 beds 3 baths ∙ 3,082 Sqft ∙ Built 1998 5 beds 3 baths ∙ 3,082 Sqft ∙ Built 1998
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.81
    •  
  • 964 E Hampton Lane Gilbert, 5
    • 5 beds 3 baths ∙ 2,826 Sqft ∙ Built 2016 5 beds 3 baths ∙ 2,826 Sqft ∙ Built 2016
    LEASED 03/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.96
    •  
PROPERTY LISTING DETAILS
Kelly Jean Oxford
Conway Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6122097
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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