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446 W Gary Avenue Gilbert, AZ 85233

3 Beds 2 Baths 1,672 sqft Built 1997

$320,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $191.39
  • 2 Days on Market
  • MLS # : 6206832
  • Updated Date : 03/14/2021 at 02:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,672 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

Perfect single level, home located in a great location .The open floor plan offers great room and eat in kitchen. The layout is perfect for entertaining guests. Close to freeways, shopping and entertainment. Home is in a well maintained neighborhood with parks and greenbelt.New roof in 2017.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Arrowpoint

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $122k386k

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

Neighborhood: Arrowpoint

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10361981

* 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
 

$288,000$352,000$320,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,111
Property Tax -$197
Property Insurance -$60
HOA -$70
Property Management Fees -$99
CASH FLOW
$113

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.

$320,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.2%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,550

INVESTMENT

$90,550

Down Payment
$80,000
Rehab Estimate
$5,750
Closing Costs
$4,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,111

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $80,000
Loan Amount $240,000
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$27,349

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
  • $1,764

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,7003$1,7504$1,8005$1,850
$1,850
RENT COMPS ANALYSIS
  • 446 W Gary Avenue Gilbert, AZ 1
    • 3 beds 2 baths ∙ 1,672 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,672 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1748 E Irwin Avenue Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,638 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,638 Sqft ∙ Built 1984
    LEASED 12/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.04
    •  
  • 514 W Desert Avenue W Gilbert, AZ 3
    • 3 beds 2 baths ∙ 1,674 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,674 Sqft ∙ Built 1997
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.05
    •  
  • 1333 N Brittany Lane Gilbert, AZ 4
    • 3 beds 3 baths ∙ 1,707 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,707 Sqft ∙ Built 1988
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.05
    •  
  • 1405 N Brittany Lane Gilbert, AZ 5
    • 3 beds 3 baths ∙ 1,707 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,707 Sqft ∙ Built 1987
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.08
    •  
PROPERTY LISTING DETAILS
Gretchen Goodwin
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6206832
Last Updated: 03/14/2021
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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