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3658 S Loback Lane Gilbert, AZ 85297

3 Beds 2 Baths 1,521 sqft Built 2002

INVESTimate

$349,900

List Price

$1,520

$1,368 - $1,672

Rent Est.

$372,923  ( +6.58%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $230.05
  • 2 Days on Market
  • MLS # : 6122308
  • Updated Date : 08/25/2020 at 11:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,521 sqft
  • Baths : 2 full
Listing Agent

Farnsworth-ricks Management & Realty, Inc.

Listing Agent's Description

Public Remarks: Bright open floor plan. Huge great room open to lovely kitchen and spacious bayed breakfast nook. The owners suite has bay window, walk-in-closet and separate tub and shower. Tile in all the high traffic areas. Barnwood paneling in entertainment area in living room. Recessed LED lighting in the living room, owner's suite and back patio. rest of house is LED lighting. New ceiling fans, Stainless steel appliances, gas range, gas lines for dryer and bbq, 9' ceilings, 16 seer Trane A/C installed in 2018 R49 insulation in attic, RV gate with poured concrete entrance and slab on side of home. Exterior of house was painted in 2018.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: San Tan Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: San Tan Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9371981

* 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
San Tan Elementary School Primary Regular 654 32 9
San Tan Elementary School Middle Regular 654 32 9
Higley High School High Regular 1,596 70 7

San Tan Elementary School

  • Education Level: Primary
  • # of students: 654
  • # of teachers: 32
9
GreatSchools Rating

San Tan Elementary School

  • Education Level: Middle
  • # of students: 654
  • # of teachers: 32
9
GreatSchools Rating

Higley High School

  • Education Level: High
  • # of students: 1,596
  • # of teachers: 70
7
GreatSchools Rating
 

$314,910$384,890$349,900

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$1,291
Property Tax -$239
Property Insurance -$57
HOA -$40
Property Management Fees -$99
CASH FLOW
-$206

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.

$349,900

PROJECTED PRICE

$1,520

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.58%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$7,936

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,517

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5003$1,5204$1,5505$1,650
$1,650
RENT COMPS ANALYSIS
  • 3658 S Loback Lane Gilbert, 3
    • 3 beds 2 baths ∙ 1,521 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,521 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $1.00
    •  
  • 3460 S Arroyo Lane Gilbert, 1
    • 3 beds 2 baths ∙ 1,521 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,521 Sqft ∙ Built 2001
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.98
    •  
  • 3830 S Joshua Tree Lane Gilbert, 2
    • 3 beds 2 baths ∙ 1,525 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,525 Sqft ∙ Built 2002
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.98
    •  
  • 3816 E Trigger Way Gilbert, 4
    • 3 beds 3 baths ∙ 1,564 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,564 Sqft ∙ Built 2008
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.99
    •  
  • 3479 E Red Oak Lane Gilbert, 5
    • 3 beds 2 baths ∙ 1,585 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,585 Sqft ∙ Built 2003
    LEASED 01/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.04
    •  
PROPERTY LISTING DETAILS
Kevin Kilker
Farnsworth-ricks Management & Realty, Inc.
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6122308
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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