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437 E Hearne Way Gilbert, AZ 85234

4 Beds 3 Baths 2,929 sqft Built 1992

$699,000

List Price

$2,630

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

December 31, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $238.65
  • 4 Days on Market
  • MLS # : 6175800
  • Updated Date : 01/02/2021 at 18:16
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,929 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homesmart

Listing Agent's Description

Beautiful Waterfront Lot in the Gilbert Lake Community of Stonebridge Lakes Estates. Just minutes from Downtown Gilbert and Freestone Regional Park. This one-owner home shows pride of ownership. You'll love the gorgeous lake views from your family room, kitchen, office and master bedroom/balcony. Eat-in kitchen opens to great room and has quartz countertops, island and walk-in pantry. Home boasts plantation shutters, ceiling fans & marble window sills t/o as well as California Closets in several rooms. Many improvements have been made to home: Interior/Exterior paint in 2020.Newer Trane XR heating/ac system (2016), Newer security system (2017), Newer galvanized lake fence & invisible pool/lake fence to protect dogs from lake...Newer sand filter..Newer pool decking, Newer water softener

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
 

$629,100$768,900$699,000

PURCHASE PRICE

$2,367$2,893$2,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,630
EXPENSES Loan Payment -$2,579
Property Tax -$411
Property Insurance -$84
HOA -$11
Property Management Fees -$99
CASH FLOW
-$554

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.

$699,000

PROJECTED PRICE

$2,630

PROJECTED RENT

0.38%

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$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$190,985

INVESTMENT

$190,985

Down Payment
$174,750
Rehab Estimate
$5,750
Closing Costs
$10,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,579

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $174,750
Loan Amount $524,250
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$8,759

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
  • $2,621

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,3453$2,4954$2,5955$2,800
$2,800
RENT COMPS ANALYSIS
  • 437 E Hearne Way Gilbert, AZ 1
    • 4 beds 3 baths ∙ 2,929 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,929 Sqft ∙ Built 1992
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 341 E Catclaw Court Gilbert, AZ 2
    • 4 beds 3 baths ∙ 2,750 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,750 Sqft ∙ Built 1994
    property image
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,345
    • $0.85
    •  
  • 1678 E Linda Lane Gilbert, AZ 3
    • 4 beds 3 baths ∙ 2,903 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,903 Sqft ∙ Built 2000
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.86
    •  
  • 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
    property image
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.99
    •  
  • 645 E Desert Lane Gilbert, AZ 5
    • 4 beds 4 baths ∙ 3,170 Sqft ∙ Built 1980 4 beds 4 baths ∙ 3,170 Sqft ∙ Built 1980
    property image
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.88
    •  
PROPERTY LISTING DETAILS
Annette Nelson
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6175800
Last Updated: 01/02/2021
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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