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4418 E Desert Lane Court Gilbert, AZ 85234

4 Beds 3 Baths 2,708 sqft Built 1994

$632,400

List Price

$2,460

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1994
  • Price/Sqft : $233.53
  • 2 Days on Market
  • MLS # : 6155166
  • Updated Date : 11/02/2020 at 15:42
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,708 sqft
  • Baths : 2 full , 1 half
Listing Agent

Denmar Realty

Listing Agent's Description

In the desirably located subdivision of Circle G Ranches at Superstition Springs Golf and Country Club is a north/south exposure and updated rare half acre home. Property features abundant privacy being on a corner in a cul-de-sac backing up to a lush greenbelt, side 3 car garage and RV gates. Home features a spacious open floor plan for the kitchen, dining and family room with a cozy corner fireplace. Fully updated and equipped kitchen for a cooks dream. The eat-in kitchen has custom white cabinets, gorgeous granite slab counters, stone backsplash. Gorgeous wood-look tile floors. Formal living & dining. Master has a private entrance, custom walk-in closet and full bath. The large backyard has a covered patio, sparkling pool w/water feature, outdoor fireplace and mature desert foliage.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Superstition Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650kPrice in $122k685k

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

Neighborhood: Superstition Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $10363225

* 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
Towne Meadows Elementary School Primary Regular 634 33 9
Towne Meadows Elementary School Middle Regular 634 33 9
Highland High School High Regular 3,065 123 8

Towne Meadows Elementary School

  • Education Level: Primary
  • # of students: 634
  • # of teachers: 33
9
GreatSchools Rating

Towne Meadows Elementary School

  • Education Level: Middle
  • # of students: 634
  • # of teachers: 33
9
GreatSchools Rating

Highland High School

  • Education Level: High
  • # of students: 3,065
  • # of teachers: 123
8
GreatSchools Rating
 

$569,160$695,640$632,400

PURCHASE PRICE

$2,214$2,706$2,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,460
EXPENSES Loan Payment -$2,333
Property Tax -$375
Property Insurance -$80
HOA -$3
Property Management Fees -$99
CASH FLOW
-$430

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.

$632,400

PROJECTED PRICE

$2,460

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.1%
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$173,336

INVESTMENT

$173,336

Down Payment
$158,100
Rehab Estimate
$5,750
Closing Costs
$9,486

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,333

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $158,100
Loan Amount $474,300
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$11,471

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,460

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,221

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,0003$2,1254$2,4605$2,725
$2,725
RENT COMPS ANALYSIS
  • 4418 E Desert Lane Court Gilbert, AZ 4
    • 4 beds 3 baths ∙ 2,708 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,708 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $2,460
    • $0.91
    •  
  • 761 N Pheasant Drive Gilbert, AZ 1
    • 5 beds 4 baths ∙ 2,753 Sqft ∙ Built 1999 5 beds 4 baths ∙ 2,753 Sqft ∙ Built 1999
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.72
    •  
  • 4435 E Campbell Court Gilbert, AZ 2
    • 4 beds 2 baths ∙ 2,675 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,675 Sqft ∙ Built 1997
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.75
    •  
  • 4108 E Breckenridge Way Gilbert, AZ 3
    • 5 beds 4 baths ∙ 2,753 Sqft ∙ Built 1998 5 beds 4 baths ∙ 2,753 Sqft ∙ Built 1998
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,125
    • $0.77
    •  
  • 6936 E Mirabel Avenue Mesa, AZ 5
    • 4 beds 3 baths ∙ 2,618 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,618 Sqft ∙ Built 1997
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,725
    • $1.04
    •  
PROPERTY LISTING DETAILS
Erica Markham
Denmar Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6155166
Last Updated: 11/02/2020
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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