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442 S Saddle Street Gilbert, AZ 85233

4 Beds 3 Baths 2,018 sqft Built 1991

$398,900

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $197.67
  • 6 Days on Market
  • MLS # : 6207846
  • Updated Date : 03/26/2021 at 22:03
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,018 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Alliance Group

Listing Agent's Description

Bask in your own sparkling swimming pool! Wonderful home in great family neighborhood! 4 bedrooms/2.5 baths. 2018 sq ft. Newer flooring-family room and kitchen. Eat-in kitchen w/island and bay window. Vaulted ceilings. Fireplace. Newer paint-throughout. Large master suite with walk-in closet and walk out balcony. 2-car garage. Mature landscaping-front and back. Sparkling pool in private backyard. A must see!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Candlewood

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Candlewood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9281981

* 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
Mesquite High School High Regular 2,000 82 6
Mesquite Jr High School Middle Unknown NA

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

Mesquite Jr High School

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

$359,010$438,790$398,900

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,386
Property Tax -$235
Property Insurance -$67
HOA -$28
Property Management Fees -$99
CASH FLOW
-$14

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.

$398,900

PROJECTED PRICE

$1,800

PROJECTED RENT

0.45%

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$0.0$5.0k$10k$15k

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$111,459

INVESTMENT

$111,459

Down Payment
$99,725
Rehab Estimate
$5,750
Closing Costs
$5,984

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,386

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,725
Loan Amount $299,175
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$21,429

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,872

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6953$1,6954$1,8005$2,195
$2,195
RENT COMPS ANALYSIS
  • 442 S Saddle Street Gilbert, AZ 4
    • 4 beds 3 baths ∙ 2,018 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,018 Sqft ∙ Built 1991
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.89
    •  
  • 717 W Sagebrush Street Gilbert, AZ 1
    • 3 beds 2 baths ∙ 1,818 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,818 Sqft ∙ Built 1991
    property image
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.91
    •  
  • 501 W Mesquite Street Gilbert, AZ 2
    • 3 beds 2 baths ∙ 1,856 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,856 Sqft ∙ Built 1998
    property image
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.91
    •  
  • 344 S Bronco Lane Gilbert, AZ 3
    • 4 beds 2 baths ∙ 1,874 Sqft ∙ Built 1988 4 beds 2 baths ∙ 1,874 Sqft ∙ Built 1988
    property image
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.90
    •  
  • 626 W Palo Verde Street Gilbert, AZ 5
    • 4 beds 3 baths ∙ 2,210 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,210 Sqft ∙ Built 1988
    property image
    LEASED 02/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.99
    •  
PROPERTY LISTING DETAILS
Heather E Foerster
Re/max Alliance Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6207846
Last Updated: 03/26/2021
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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