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461 W Encinas Street Gilbert, AZ 85233

3 Beds 2 Baths 1,681 sqft Built 1995

$349,900

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1995
  • Price/Sqft : $208.15
  • 4 Days on Market
  • MLS # : 6156358
  • Updated Date : 11/06/2020 at 20:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,681 sqft
  • Baths : 2 full
Listing Agent

Bliss Realty & Investments

Listing Agent's Description

Beautifully remodeled home less than 5 minutes from downtown Gilbert, less than 2 miles off the 60. Gorgeous 16'' tile throughout, French double-doors leading to back patio. New matching stainless steel GE appliances, new neutral interior paint, new exterior paint, new granite throughout, new ceiling fans, new baseboards, new sinks, new hardware, this home is truly move-in ready. No projects left for the honey-do list. Backyard has stylish pavers and grassy area, side yard is gated off for a dog run or garden. Shade screens on master bedroom window. Concrete sidewalk from backyard to front yard. Chair rails and shelves in bedrooms for an elegant touch. Do you work from home? Front Living Room/Dining room is a perfect separate work area.Tile throughout means energy savings all summer long

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Silverhawke

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Silverhawke

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10311981

* 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
Oak Tree Elementary School Primary Regular 675 40 6
Mesquite Jr High School Middle Regular 715 34 7
Mesquite High School High Regular 2,000 82 6

Oak Tree Elementary School

  • Education Level: Primary
  • # of students: 675
  • # of teachers: 40
6
GreatSchools Rating

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
 

$314,910$384,890$349,900

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$1,291
Property Tax -$206
Property Insurance -$60
HOA -$61
Property Management Fees -$99
CASH FLOW
-$97

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.

$349,900

PROJECTED PRICE

$1,620

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.8%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$15,436

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
  • $1,757

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,7353$1,7504$1,7505$1,849
$1,849
RENT COMPS ANALYSIS
  • 461 W Encinas Street Gilbert, AZ 1
    • 3 beds 2 baths ∙ 1,681 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,681 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 250 W Juniper Avenue #1 Gilbert, AZ 2
    • 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 1986
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,735
    • $1.05
    •  
  • 462 W Douglas Avenue Gilbert, AZ 3
    • 4 beds 2 baths ∙ 1,795 Sqft ∙ Built 1996 4 beds 2 baths ∙ 1,795 Sqft ∙ Built 1996
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.97
    •  
  • 514 W Desert Avenue W Gilbert, AZ 4
    • 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
    •  
  • 95 W Juanita Avenue Gilbert, AZ 5
    • 4 beds 2 baths ∙ 1,671 Sqft ∙ Built 1986 4 beds 2 baths ∙ 1,671 Sqft ∙ Built 1986
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,849
    • $1.11
    •  
PROPERTY LISTING DETAILS
Andrew L Dumas
Bliss Realty & Investments
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6156358
Last Updated: 11/06/2020
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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