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401 E Hearne Way Gilbert, AZ 85234

4 Beds 2 Baths 2,800 sqft Built 1990

$560,000

List Price

$2,450

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

December 29, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $200.00
  • 6 Days on Market
  • MLS # : 6175313
  • Updated Date : 01/03/2021 at 02:43
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,800 sqft
  • Baths : 2 full
Listing Agent

Realty One Group

Listing Agent's Description

Make an offer now! Remarkable single level home in delightful Gilbert is waiting just for you. This 3 car garage property gives you an RV gate, and easy care desert front landscaping. Double-door entrance leads to an impressive interior complete with 4 bed, 2 bath, gorgeous chandeliers, fireplace perfect for this winter, and lots of windows that bring in so much natural light, ideal for interior plants. Practice your cooking skills in this dreamy eat-in kitchen, centered island, track lighting, and much more. This incredible, double-door master suite includes a private exit and luxurious bathroom with, dual sinks, a tub, and walk-in closet. Enjoy amazing lake views from your backyard's covered patio. The entire home inside and out has been freshly painted! Lakefront Property! Welcome Home!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Stonebridge Lakes Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $122k430k

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

Neighborhood: Stonebridge Lakes Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10362185

* 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
 

$504,000$616,000$560,000

PURCHASE PRICE

$2,205$2,695$2,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,450
EXPENSES Loan Payment -$2,066
Property Tax -$329
Property Insurance -$82
HOA -$38
Property Management Fees -$99
CASH FLOW
-$164

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.

$560,000

PROJECTED PRICE

$2,450

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.4%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$154,150

INVESTMENT

$154,150

Down Payment
$140,000
Rehab Estimate
$5,750
Closing Costs
$8,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$2,066

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $140,000
Loan Amount $420,000
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$24,493

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
  • $2,492

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,2953$2,3454$2,5955$2,650
$2,650
RENT COMPS ANALYSIS
  • 401 E Hearne Way Gilbert, AZ 1
    • 4 beds 2 baths ∙ 2,800 Sqft ∙ Built 1990 4 beds 2 baths ∙ 2,800 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 345 E Pinto Court Gilbert, AZ 2
    • 4 beds 3 baths ∙ 2,750 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,750 Sqft ∙ Built 1995
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.83
    •  
  • 341 E Catclaw Court Gilbert, AZ 3
    • 4 beds 3 baths ∙ 2,750 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,750 Sqft ∙ Built 1994
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,345
    • $0.85
    •  
  • 1107 E Cullumber Street Gilbert, AZ 4
    • 4 beds 3 baths ∙ 2,617 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,617 Sqft ∙ Built 1988
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.99
    •  
  • 432 E Stonebridge Drive Gilbert, AZ 5
    • 5 beds 3 baths ∙ 2,985 Sqft ∙ Built 1991 5 beds 3 baths ∙ 2,985 Sqft ∙ Built 1991
    LEASED 07/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.89
    •  
PROPERTY LISTING DETAILS
Joy M Fong
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6175313
Last Updated: 01/03/2021
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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