Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

583 E Kyle Drive Gilbert, AZ 85296

4 Beds 3 Baths 2,039 sqft Built 1997

$490,000

List Price

$2,090

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $240.31
  • 4 Days on Market
  • MLS # : 6190475
  • Updated Date : 02/18/2021 at 15:46
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,039 sqft
  • Baths : 2 full , 1 half
Listing Agent

United Brokers Group

Listing Agent's Description

Don't miss this 4 bedroom 2.5 bath home in an incredible location. New flooring, updated kitchen including stunning granite countertops and quaint breakfast nook are just the beginning. 4 bedrooms upstairs include a huge master suite with large walk in closet, new ceiling fans throughout, and Nest thermostat finish this stand out interior. Corner lot with fenced play pool and grassy entertaining area make this backyard ideal. Neely Farms is a gorgeous neighborhood featuring multiple parks. Home is within walking distance to the elementary school. Downtown Gilbert and San Tan Mall are only minutes away.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Neely Farms

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Neely Farms

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9551981

* 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
South Valley Jr. High School Middle Regular 1,193 53 9
Campo Verde High School High Regular 2,094 86 8
Mesquite Jr High School Middle Unknown NA

South Valley Jr. High School

  • Education Level: Middle
  • # of students: 1,193
  • # of teachers: 53
9
GreatSchools Rating

Campo Verde High School

  • Education Level: High
  • # of students: 2,094
  • # of teachers: 86
8
GreatSchools Rating

Mesquite Jr High School

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

$441,000$539,000$490,000

PURCHASE PRICE

$1,881$2,299$2,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,090
EXPENSES Loan Payment -$1,702
Property Tax -$288
Property Insurance -$67
HOA -$9
Property Management Fees -$99
CASH FLOW
-$75

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.

$490,000

PROJECTED PRICE

$2,090

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.8%
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$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$135,600

INVESTMENT

$135,600

Down Payment
$122,500
Rehab Estimate
$5,750
Closing Costs
$7,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,702

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $122,500
Loan Amount $367,500
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$22,033

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,090

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $2,075

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$2,0503$2,0904$2,1955$2,200
$2,200
RENT COMPS ANALYSIS
  • 583 E Kyle Drive Gilbert, AZ 3
    • 4 beds 3 baths ∙ 2,039 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,039 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $1.03
    •  
  • 867 E Cathy Drive Gilbert, AZ 1
    • 3 beds 3 baths ∙ 2,041 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,041 Sqft ∙ Built 2001
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.91
    •  
  • 514 E Sherri Drive Gilbert, AZ 2
    • 4 beds 3 baths ∙ 2,039 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,039 Sqft ∙ Built 1997
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.01
    •  
  • 469 E Sherri Drive Gilbert, AZ 4
    • 4 beds 3 baths ∙ 2,049 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,049 Sqft ∙ Built 1998
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.07
    •  
  • 750 E Devon Drive Gilbert, AZ 5
    • 4 beds 3 baths ∙ 2,039 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,039 Sqft ∙ Built 1997
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.08
    •  
PROPERTY LISTING DETAILS
Brandy Karczewski
United Brokers Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6190475
Last Updated: 02/18/2021
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.

BESbswy