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3124 S Martingale Road Gilbert, AZ 85295

3 Beds 2 Baths 1,861 sqft Built 2003

$440,000

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $236.43
  • 3 Days on Market
  • MLS # : 6199637
  • Updated Date : 02/27/2021 at 23:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,861 sqft
  • Baths : 2 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

WOW! Absolutely gorgeous great room home loaded with upgrades in one of the most sought after zip codes in Gilbert! Bright and open kitchen with stainless steel appliances, gas cooktop, granite tops, and newer sink. 3 spacious bedrooms plus a den, beautiful backyard oasis featuring a pebble-finish pool/spa with jazz lighting, outdoor kitchen with high-end built-in BBQ, and covered patio. Other upgrades include master closet with drawers/shelving system; gutters/drainage system; sunscreens; security system; garage cabinets; epoxy garage floors; updated lighting fixtures/ceiling fans; gorgeous

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Pecos Park

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $122k374k

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

Neighborhood: Pecos Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10362086

* 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
Cooley Middle School Middle Unknown 915 39 NA
Williams Field High School High Regular 1,705 64 7

Cooley Middle School

  • Education Level: Middle
  • # of students: 915
  • # of teachers: 39
NA
GreatSchools Rating

Williams Field High School

  • Education Level: High
  • # of students: 1,705
  • # of teachers: 64
7
GreatSchools Rating
 

$396,000$484,000$440,000

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$1,528
Property Tax -$300
Property Insurance -$63
HOA -$20
Property Management Fees -$99
CASH FLOW
-$242

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.

$440,000

PROJECTED PRICE

$1,770

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.6%
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

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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$122,350

INVESTMENT

$122,350

Down Payment
$110,000
Rehab Estimate
$5,750
Closing Costs
$6,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,528

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $110,000
Loan Amount $330,000
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$8,277

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,801

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6953$1,7004$1,7705$1,799
$1,799
RENT COMPS ANALYSIS
  • 3124 S Martingale Road Gilbert, AZ 4
    • 3 beds 2 baths ∙ 1,861 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,861 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.95
    •  
  • 3496 E Phelps Street Gilbert, AZ 1
    • 4 beds 3 baths ∙ 1,760 Sqft ∙ Built 2003 4 beds 3 baths ∙ 1,760 Sqft ∙ Built 2003
    property image
    LEASED 04/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.94
    •  
  • 3678 E Waite Lane Gilbert, AZ 2
    • 3 beds 3 baths ∙ 1,692 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,692 Sqft ∙ Built 2007
    property image
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.00
    •  
  • 3704 E Waite Lane Gilbert, AZ 3
    • 4 beds 3 baths ∙ 1,860 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,860 Sqft ∙ Built 2006
    property image
    LEASED 12/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.91
    •  
  • 3816 E Frances Lane Gilbert, AZ 5
    • 3 beds 2 baths ∙ 1,767 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,767 Sqft ∙ Built 2007
    property image
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,799
    • $1.02
    •  
PROPERTY LISTING DETAILS
Lenore Primrose
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6199637
Last Updated: 02/27/2021
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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