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433 W Verano Place Gilbert, AZ 85233

4 Beds 2 Baths 1,838 sqft Built 1991

$400,000

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1991
  • Price/Sqft : $217.63
  • 3 Days on Market
  • MLS # : 6157090
  • Updated Date : 11/07/2020 at 11:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,838 sqft
  • Baths : 2 full
Listing Agent

Jason Mitchell Real Estate

Listing Agent's Description

Gorgeous home sweet home in Gilbert! Corner lot home with desert landscaping surround! Open floorplan with soaring ceilings throughout. Kitchen is complete with a plethora of cabinets, ample granite counter space, breakfast bar, and stainless steel appliances. Master suite has plush carpeting, ceiling fan, and private exit to backyard. Full spa bathroom with dual sink vanity and separate soaking tub + shower. Spacious walk in closet! Backyard features an extended covered patio with sparkling pool which was refinished.New pump and filter in place. Yard consists of green grass and rv gate. AC replaced in 2018. This home is sure to go fast, so come see it today!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Whisper Glen

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Whisper Glen

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9181981

* 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
Gilbert Elementary School Primary Regular 592 39 6
Mesquite Jr High School Middle Regular 715 34 7
Mesquite High School High Regular 2,000 82 6

Gilbert Elementary School

  • Education Level: Primary
  • # of students: 592
  • # of teachers: 39
6
GreatSchools Rating

Mesquite Jr High School

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

Mesquite High School

  • Education Level: High
  • # of students: 2,000
  • # of teachers: 82
6
GreatSchools Rating
 

$360,000$440,000$400,000

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$1,476
Property Tax -$235
Property Insurance -$63
HOA -$64
Property Management Fees -$99
CASH FLOW
-$317

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.

$400,000

PROJECTED PRICE

$1,620

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.4%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$4,869

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,719

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5953$1,6204$1,6255$1,650
$1,650
RENT COMPS ANALYSIS
  • 433 W Verano Place Gilbert, AZ 3
    • 4 beds 2 baths ∙ 1,838 Sqft ∙ Built 1991 4 beds 2 baths ∙ 1,838 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.88
    •  
  • 631 W Amoroso Drive Gilbert, AZ 1
    • 3 beds 3 baths ∙ 1,704 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,704 Sqft ∙ Built 1992
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.91
    •  
  • 526 S Quail Lane Gilbert, AZ 2
    • 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 1991
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.97
    •  
  • 638 W Sereno Drive Gilbert, AZ 4
    • 3 beds 3 baths ∙ 1,704 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,704 Sqft ∙ Built 1993
    LEASED 02/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.95
    •  
  • 717 W Sagebrush Street Gilbert, AZ 5
    • 3 beds 2 baths ∙ 1,818 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,818 Sqft ∙ Built 1991
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.91
    •  
PROPERTY LISTING DETAILS
Jason Mitchell
Jason Mitchell Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6157090
Last Updated: 11/07/2020
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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