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PROPERTY INFO
FACTS
- Single Family
- Built In 1977
- Price/Sqft : $175.51
- 2 Days on Market
- MLS # : 6159807
- Updated Date : 11/14/2020 at 11:51
CONSTRUCTION
- Beds : 5
- Floor Size : 2,450 sqft
- Baths : 3 full
Listing Agent
Keller Williams Realty Sonoran Living
Listing Agent's Description
From the shaded entryway through the huge, green backyard, this home screams special! Laminate Flooring in all the living areas and a new kitchen with white cabinets and granite counters are ready for their new owner. There are so many cabinets and cupboards in this new kitchen along with an island with pendant lighting. Garage is converted to a one-bedroom apartment with kitchenette. Great for income or a for mother-in-law suite as it has it's own entrance. Main house is 1920 sq ft with 4 bedrooms and 2 baths. Guest Quarters/mother in law suite/apartment is 520 sq ft and consists of one bedroom and one bathroom along with a living area.
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PRICE & RENT TRENDS
Neighborhood: Old West Estates
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Old West Estates
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,030 |
| EXPENSES | Loan Payment | -$1,587 |
| Property Tax | -$253 | |
| Property Insurance | -$75 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$17
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.
$430,000
PROJECTED PRICE
$2,030
PROJECTED RENT
0.47%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.35% |
| Appreciation Year (1-5) | 5.0% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.24% |
| 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
$119,700
LOAN DETAILS
$1,587
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $107,500 |
| Loan Amount | $322,500 |
6
YEARS SAVED
$34,100
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,030
LIST RENT -
$0.83
LIST RENT PER SQFT
-
$2,346
COMP ESTIMATED VALUE -
$0.96
COMP AVG. RENT PER SQFT
Comps Range
-
307 S Neely Street Gilbert, AZ 3
- 5 beds 3 baths ∙ 2,450 Sqft ∙ Built 1977 5 beds 3 baths ∙ 2,450 Sqft ∙ Built 1977
- Rent
- Rent Per SQFT
- $2,030
- $0.83
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629 S Burk Street Gilbert, AZ 1
- 4 beds 2 baths ∙ 2,134 Sqft ∙ Built 1994 4 beds 2 baths ∙ 2,134 Sqft ∙ Built 1994
LEASED 08/14/20- Rent
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- $1,895
- $0.89
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626 W Palo Verde Street Gilbert, AZ 2
- 4 beds 3 baths ∙ 2,210 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,210 Sqft ∙ Built 1988
LEASED 08/08/20- Rent
- Rent Per SQFT
- $1,995
- $0.90
-
843 W Bruce Avenue Gilbert, AZ 4
- 4 beds 3 baths ∙ 2,146 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,146 Sqft ∙ Built 1997
LEASED 07/01/19- Rent
- Rent Per SQFT
- $2,225
- $1.04
-
1118 W Newport Beach Drive Gilbert, AZ 5
- 4 beds 3 baths ∙ 2,493 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,493 Sqft ∙ Built 1987
LEASED 08/17/20- Rent
- Rent Per SQFT
- $2,495
- $1.00
PROPERTY LISTING DETAILS
Keller Williams Realty Sonoran Living
1.866.250.5610
Mynd Property Management
LC664597000
MLS #: 6159807
Last Updated: 11/14/2020
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.
