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437 N Riata Street Gilbert, AZ 85234

5 Beds 3 Baths 3,609 sqft Built 1993

$979,900

List Price

$2,920

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $271.52
  • 4 Days on Market
  • MLS # : 6211238
  • Updated Date : 03/24/2021 at 03:31
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,609 sqft
  • Baths : 2 full , 1 half
Listing Agent

West Usa Realty

Listing Agent's Description

Beautiful Custom 5br 2.5bath Custom home in the heart of Gilbert. This hidden treasure sits at the back of a secluded neighborhood on nearly an acre of irrigated, horse property. Sit on the wrap-around porch or entertain by the oversized diving pool in your 600 sq. ft. Covered Ramada with power and gas for an outdoor kitchen! 5 Car garage w/built-in storage and extra large driveway plus rolling RV gate to access the huge rear yard. 23 Mature Fruit trees, raised gardens automatic sprinklers for the front lawn with flood irrigation on the property. 2521 sq. ft. on the main floor PLUS 1088 of finished basement w/2 bedrooms, gym room and large family room. Awesome neighborhood!!! Custom features throughout! You won't be disappointed with this one.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: K-C Ranch Estates

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $109k547k

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

Neighborhood: K-C Ranch Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $10182670

* 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
 

$881,910$1,077,890$979,900

PURCHASE PRICE

$2,628$3,212$2,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,920
EXPENSES Loan Payment -$3,404
Property Tax -$576
Property Insurance -$98
Property Management Fees -$99
CASH FLOW
-$1,256

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.

$979,900

PROJECTED PRICE

$2,920

PROJECTED RENT

0.30%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.1%
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$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$265,424

INVESTMENT

$265,424

Down Payment
$244,975
Rehab Estimate
$5,750
Closing Costs
$14,699

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$3,404

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $244,975
Loan Amount $734,925
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$416

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,920

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $3,014

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$2,9003$2,920
$2,920
RENT COMPS ANALYSIS
  • 437 N Riata Street Gilbert, AZ 3
    • 5 beds 3 baths ∙ 3,609 Sqft ∙ Built 1993 5 beds 3 baths ∙ 3,609 Sqft ∙ Built 1993
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,920
    • $0.81
    •  
  • 345 N Date Palm Drive Gilbert, AZ 1
    • 5 beds 4 baths ∙ 3,541 Sqft ∙ Built 1999 5 beds 4 baths ∙ 3,541 Sqft ∙ Built 1999
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.79
    •  
  • 230 E Appaloosa Court Gilbert, AZ 2
    • 5 beds 3 baths ∙ 3,300 Sqft ∙ Built 1994 5 beds 3 baths ∙ 3,300 Sqft ∙ Built 1994
    property image
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.88
    •  
PROPERTY LISTING DETAILS
Bobby Miller
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6211238
Last Updated: 03/24/2021
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.

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