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3180 E Linda Lane Gilbert, AZ 85234

5 Beds 5 Baths 3,745 sqft Built 2002

$700,000

List Price

$3,000

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $186.92
  • 3 Days on Market
  • MLS # : 6157010
  • Updated Date : 11/07/2020 at 15:19
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,745 sqft
  • Baths : 4 full , 1 half
Listing Agent

Ashby Realty Group, Llc

Listing Agent's Description

ABSOLUTELY STUNNING 6 BED, 4.5 BATH HOME IN THE HEART OF THE MORRISON RANCH CORRIDOR. THIS HOME HAS BEEN BEAUTIFULLY REMODELED WITH NEW PLANK TILE, NEW CARPETING, NEW QUARTZ COUNTERTOPS, NEW STAINLESS APPLIANCES, NEW PAINT IN AND OUT, CUSTOM WAINSCOTING, EXTENSIVE WOOD SHUTTERS, HUGE MASTER SUITE WITH NEW SOAKING TUB, WALK IN SHOWER WITH SUBWAY TILES. THE EXTERIOR FEATURES A BEAUTIFUL POOL & SPA WITH NEWLY REFINISHED POOL DECK AND WATER FEATURE, NEWER AC UNITS (BOTH HAVE BEEN REPLACED IN THE LAST 3 YEARS) 3 CAR GARAGE WITH HANGING STORAGE, BUILT IN BBQ, GROUND LEVEL TRAMPOLINE, NEWLY RENOVATED LANDSCAPING, ALL SITTING ON A 10,000+ SQFT NORTH/SOUTH FACING LOT.

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
 

$630,000$770,000$700,000

PURCHASE PRICE

$2,700$3,300$3,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,000
EXPENSES Loan Payment -$2,583
Property Tax -$415
Property Insurance -$100
HOA -$116
Property Management Fees -$99
CASH FLOW
-$313

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.

$700,000

PROJECTED PRICE

$3,000

PROJECTED RENT

0.43%

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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$191,250

INVESTMENT

$191,250

Down Payment
$175,000
Rehab Estimate
$5,750
Closing Costs
$10,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,583

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $175,000
Loan Amount $525,000
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$21,760

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $2,977

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,7953$2,800
$2,800
RENT COMPS ANALYSIS
  • 3180 E Linda Lane Gilbert, AZ 1
    • 6 beds 5 baths ∙ 3,745 Sqft ∙ Built 2002 6 beds 5 baths ∙ 3,745 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3710 E Palo Verde Street Gilbert, AZ 2
    • 5 beds 3 baths ∙ 3,503 Sqft ∙ Built 2011 5 beds 3 baths ∙ 3,503 Sqft ∙ Built 2011
    LEASED 07/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $0.80
    •  
  • 345 N Date Palm Drive Gilbert, AZ 3
    • 5 beds 4 baths ∙ 3,541 Sqft ∙ Built 1999 5 beds 4 baths ∙ 3,541 Sqft ∙ Built 1999
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.79
    •  
PROPERTY LISTING DETAILS
Richard Alan Ashby
Ashby Realty Group, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6157010
Last Updated: 11/07/2020
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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