Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

430 N Granite Street Gilbert, AZ 85234

3 Beds 3 Baths 1,754 sqft Built 1989

$354,900

List Price

$1,820

$1.6K - $2K

Rent Est.

PROPERTY INFO

February 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $202.34
  • 5 Days on Market
  • MLS # : 6192364
  • Updated Date : 02/10/2021 at 19:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,754 sqft
  • Baths : 2 full , 1 half
Listing Agent

Infinity Wealth Real Estate

Listing Agent's Description

Welcome to the highly desirable neighborhood of Stonecreek in the heart of Gilbert near Freestone park. This 3 bedroom, 2.5 bath, move-in ready home has endless tile, cathedral ceilings & spacious rooms. Light, bright & smiling w/upgrades!With both a Living room & Family room, this home has space for everyone. Newly updated kitchen w/granite countertops, stainless under-mount sink, breakfast bar & walk-in pantry.Downstairs laundry room keeps the noise away & leads to garage w/ample storage & epoxy floors. Wide staircase guides you to the upstairs where bedrooms 2 & 3 havewalk-in closets. The Master bath has double sinks & a walk-in closet. The backyard has mature citrus trees. Fantastic location close to walking/biking paths &community pool! Refrigerator, washer & dryer included.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Stonecreek

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Stonecreek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9841981

* 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
Mesquite Jr High School Middle Regular 715 34 7
Gilbert High School High Regular 2,470 113 7
Mesquite Jr High School Middle Unknown NA

Mesquite Jr High School

  • Education Level: Middle
  • # of students: 715
  • # of teachers: 34
7
GreatSchools Rating

Gilbert High School

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

Mesquite Jr High School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$319,410$390,390$354,900

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$1,233
Property Tax -$209
Property Insurance -$61
HOA -$55
Property Management Fees -$99
CASH FLOW
$163

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.

$354,900

PROJECTED PRICE

$1,820

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.6%
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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$99,799

INVESTMENT

$99,799

Down Payment
$88,725
Rehab Estimate
$5,750
Closing Costs
$5,324

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,233

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $88,725
Loan Amount $266,175
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$34,496

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
  • $1,807

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,7753$1,8504$1,8755$2,100
$2,100
RENT COMPS ANALYSIS
  • 430 N Granite Street Gilbert, AZ 1
    • 3 beds 3 baths ∙ 1,754 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,754 Sqft ∙ Built 1989
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1513 E Commerce Avenue Gilbert, AZ 2
    • 3 beds 3 baths ∙ 1,866 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,866 Sqft ∙ Built 1987
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.95
    •  
  • 1419 E Redfield Road Gilbert, AZ 3
    • 3 beds 2 baths ∙ 1,901 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,901 Sqft ∙ Built 1990
    property image
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.97
    •  
  • 1220 E Laurel Avenue Gilbert, AZ 4
    • 3 beds 2 baths ∙ 1,704 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,704 Sqft ∙ Built 1987
    property image
    LEASED 01/26/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $1.10
    •  
  • 658 N Quartz Street Gilbert, AZ 5
    • 3 beds 2 baths ∙ 1,901 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,901 Sqft ∙ Built 1990
    property image
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.10
    •  
PROPERTY LISTING DETAILS
Elie Chmouni
Infinity Wealth Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6192364
Last Updated: 02/10/2021
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. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

BESbswy