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3660 E Latham Court Gilbert, AZ 85297

5 Beds 4 Baths 4,015 sqft Built 2002

$570,000

List Price

$2,820

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $141.97
  • 6 Days on Market
  • MLS # : 6152440
  • Updated Date : 11/05/2020 at 19:54
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,015 sqft
  • Baths : 3 full , 1 half
Listing Agent

Homesmart

Listing Agent's Description

Beautiful home located on quiet street in highly desirable neighborhood of Coronado Ranch. Home has a perfect floor plan w/a private downstairs in-law suite that includes a living rm, bdrm & full bth. The spacious kitchen features lg island w/corian counter tops, gas stove, extensive 42'' cabinetry all open to a family room centered around a cozy stone fireplace. Upstairs includes the master retreat, 3 bdrms, & a large loft enclosed w/glass doors. Home is situation on a premium 10,669 sf corner lot backing to a lush park with north exposure. Backyard is perfect for kids & entertaining w/a sparkling pool, rock waterfall, green grass area, lg covered patio all surrounded w/mature landscaping. West side of yard has RV gate & large storage area. This home is a must see and will not last!!!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Coronado Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $122k362k

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

Neighborhood: Coronado Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10361981

* 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
Coronado Elementary School Primary Regular 643 31 9
Coronado Elementary School Middle Regular 643 31 9
Williams Field High School High Regular 1,705 64 7

Coronado Elementary School

  • Education Level: Primary
  • # of students: 643
  • # of teachers: 31
9
GreatSchools Rating

Coronado Elementary School

  • Education Level: Middle
  • # of students: 643
  • # of teachers: 31
9
GreatSchools Rating

Williams Field High School

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

$513,000$627,000$570,000

PURCHASE PRICE

$2,538$3,102$2,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,820
EXPENSES Loan Payment -$2,103
Property Tax -$381
Property Insurance -$105
HOA -$20
Property Management Fees -$99
CASH FLOW
$112

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.

$570,000

PROJECTED PRICE

$2,820

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.7%
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$0.0$5.0k$10k$15k$20k$25k$30k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$156,800

INVESTMENT

$156,800

Down Payment
$142,500
Rehab Estimate
$5,750
Closing Costs
$8,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$2,103

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $142,500
Loan Amount $427,500
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$50,143

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,820

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $3,021

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$2,695
1$2,6952$2,8203$2,9504$2,9955$3,400
$3,400
RENT COMPS ANALYSIS
  • 3660 E Latham Court Gilbert, AZ 2
    • 5 beds 4 baths ∙ 4,015 Sqft ∙ Built 2002 5 beds 4 baths ∙ 4,015 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $2,820
    • $0.70
    •  
  • 3723 E Latham Court Gilbert, AZ 1
    • 5 beds 3 baths ∙ 3,800 Sqft ∙ Built 2002 5 beds 3 baths ∙ 3,800 Sqft ∙ Built 2002
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.71
    •  
  • 4768 E Ironhorse Road Gilbert, AZ 3
    • 6 beds 4 baths ∙ 4,211 Sqft ∙ Built 2005 6 beds 4 baths ∙ 4,211 Sqft ∙ Built 2005
    LEASED 10/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.70
    •  
  • 4077 E Claxton Avenue Gilbert, AZ 4
    • 5 beds 3 baths ∙ 4,068 Sqft ∙ Built 2004 5 beds 3 baths ∙ 4,068 Sqft ∙ Built 2004
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $0.74
    •  
  • 5013 S Girard Street Gilbert, AZ 5
    • 5 beds 3 baths ∙ 3,967 Sqft ∙ Built 2015 5 beds 3 baths ∙ 3,967 Sqft ∙ Built 2015
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $0.86
    •  
PROPERTY LISTING DETAILS
Heidi Serrano
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6152440
Last Updated: 11/05/2020
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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