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537 N Riata Street Gilbert, AZ 85234

5 Beds 4 Baths 3,335 sqft Built 1997

$819,000

List Price

$3,090

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $245.58
  • 2 Days on Market
  • MLS # : 6170716
  • Updated Date : 12/12/2020 at 13:46
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,335 sqft
  • Baths : 3 full , 1 half
Listing Agent

Homesmart

Listing Agent's Description

Gorgeous custom home in the heart of Gilbert on a private 29,000+ lot. Totally remodeled, 3335 square foot, single level w/5 bedrooms and 3.5 baths offers a wonderful chef's kitchen featuring white cabinetry, gas cooktop, stainless appliances, granite, butcher block island, wine chiller and crisp subway tile backsplash. Find a Formal Living Room, Dining Room and Den w/stackstone gas fireplace and incredible view to the backyard. Primary Suite has separate exit and full bathroom w/soaking tub, large shower, dual vanities and large customized walk in closet. The backyard is like a resort w/a large covered patio, sparkling, heated, pebble tec pool w/extensive travertine decking and multiple seating areas. Sit under the pergola and enjoy the outdoor kitchen featuring a built in BBQ....

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
Burk Elementary School Primary Regular 471 32 7
Burk Elementary School Middle Regular 471 32 7
Gilbert High School High Regular 2,470 113 7

Burk Elementary School

  • Education Level: Primary
  • # of students: 471
  • # of teachers: 32
7
GreatSchools Rating

Burk Elementary School

  • Education Level: Middle
  • # of students: 471
  • # of teachers: 32
7
GreatSchools Rating

Gilbert High School

  • Education Level: High
  • # of students: 2,470
  • # of teachers: 113
7
GreatSchools Rating
 

$737,100$900,900$819,000

PURCHASE PRICE

$2,781$3,399$3,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,090
EXPENSES Loan Payment -$3,022
Property Tax -$482
Property Insurance -$92
Property Management Fees -$99
CASH FLOW
-$605

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.

$819,000

PROJECTED PRICE

$3,090

PROJECTED RENT

0.38%

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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$222,785

INVESTMENT

$222,785

Down Payment
$204,750
Rehab Estimate
$5,750
Closing Costs
$12,285

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,022

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $204,750
Loan Amount $614,250
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$14,596

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
  • $3,060

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,6503$2,8004$2,8005$3,500
$3,500
RENT COMPS ANALYSIS
  • 537 N Riata Street Gilbert, AZ 1
    • 5 beds 4 baths ∙ 3,335 Sqft ∙ Built 1997 5 beds 4 baths ∙ 3,335 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 432 E Stonebridge Drive Gilbert, AZ 2
    • 5 beds 3 baths ∙ 2,985 Sqft ∙ Built 1991 5 beds 3 baths ∙ 2,985 Sqft ∙ Built 1991
    LEASED 07/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.89
    •  
  • 645 E Desert Lane Gilbert, AZ 3
    • 4 beds 4 baths ∙ 3,170 Sqft ∙ Built 1980 4 beds 4 baths ∙ 3,170 Sqft ∙ Built 1980
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.88
    •  
  • 345 N Date Palm Drive Gilbert, AZ 4
    • 5 beds 4 baths ∙ 3,541 Sqft ∙ Built 1999 5 beds 4 baths ∙ 3,541 Sqft ∙ Built 1999
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.79
    •  
  • 541 E Leah Lane Gilbert, AZ 5
    • 5 beds 4 baths ∙ 3,146 Sqft ∙ Built 1987 5 beds 4 baths ∙ 3,146 Sqft ∙ Built 1987
    LEASED 03/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.11
    •  
PROPERTY LISTING DETAILS
Linda L. Muncey
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6170716
Last Updated: 12/12/2020
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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