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381 E Pinon Way Gilbert, AZ 85234

3 Beds 2 Baths 1,696 sqft Built 1985

$355,900

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $209.85
  • 3 Days on Market
  • MLS # : 6176624
  • Updated Date : 01/09/2021 at 23:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,696 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

This well maintained home has had some wonderful updates with keeping with the Spanish style architecture. When entering the home you will be greeted with vaulted ceiling in the foyer. The double doors will welcome you to the den/office/guest room with its own climate control system. Entering the great room with its vaulted ceilings, soaring brick fire place and French doors that welcome you out into the oasis like back yard. The kitchen has ample space for the discerning chef along with a walk-in pantry. The owners suite with its coffered ceiling and French doors that urge you out to the cover patio for those wonderful Arizona evenings.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Breckenridge Manor

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k337k

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

Neighborhood: Breckenridge Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8721866

* 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
Burk Elementary School Primary Regular 471 32 7
Burk Elementary School Middle Regular 471 32 7
Gilbert High School High Regular 2,470 113 7

Burk Elementary School

  • Education Level: Primary
  • # of students: 471
  • # of teachers: 32
7
GreatSchools Rating

Burk Elementary School

  • Education Level: Middle
  • # of students: 471
  • # of teachers: 32
7
GreatSchools Rating

Gilbert High School

  • Education Level: High
  • # of students: 2,470
  • # of teachers: 113
7
GreatSchools Rating
 

$320,310$391,490$355,900

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$1,236
Property Tax -$209
Property Insurance -$60
HOA -$79
Property Management Fees -$99
CASH FLOW
$46

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.

$355,900

PROJECTED PRICE

$1,730

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
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$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$100,064

INVESTMENT

$100,064

Down Payment
$88,975
Rehab Estimate
$5,750
Closing Costs
$5,339

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,236

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $88,975
Loan Amount $266,925
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$25,023

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,891

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7303$1,7504$1,8505$1,850
$1,850
RENT COMPS ANALYSIS
  • 381 E Pinon Way Gilbert, AZ 2
    • 3 beds 2 baths ∙ 1,696 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,696 Sqft ∙ Built 1985
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $1.02
    •  
  • 476 N Alder Court Gilbert, AZ 1
    • 3 beds 3 baths ∙ 1,572 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,572 Sqft ∙ Built 2005
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.08
    •  
  • 158 W Commerce Court #39 Gilbert, AZ 3
    • 3 beds 3 baths ∙ 1,572 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,572 Sqft ∙ Built 2004
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.11
    •  
  • 230 E Tremaine Avenue Gilbert, AZ 4
    • 3 beds 2 baths ∙ 1,696 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,696 Sqft ∙ Built 1985
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.09
    •  
  • 221 E Vaughn Avenue Gilbert, AZ 5
    • 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 1993
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.18
    •  
PROPERTY LISTING DETAILS
Michael Korzeniowski
Coldwell Banker Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6176624
Last Updated: 01/09/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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