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60 W Sheffield Avenue Gilbert, AZ 85233

4 Beds 2 Baths 2,594 sqft Built 1998

$519,900

List Price

$2,210

$2K - $2.4K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $200.42
  • 4 Days on Market
  • MLS # : 6177621
  • Updated Date : 01/14/2021 at 15:54
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,594 sqft
  • Baths : 2 full
Listing Agent

West Usa Realty

Listing Agent's Description

Beautiful, private end lot single story home with split floor plan and north facing backyard. Large covered patio overlooking an oversized, in ground heated spa. Incredible opportunity to own this nearly 2600 sqft home with brand new carpet in living room and bedrooms. Kitchen has been recently remodeled with granite countertops and SS appliances. Brand new HVAC's! Additional bonus/game room with vinyl plank flooring. Additional side concrete driveway for parking or staging your RV complete with 30 Amp service. This beauty is 1 mile south of downtown Gilbert featuring tons of restaurants and shops.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Dave Brown Millett Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Dave Brown Millett Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9731981

* 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
Settlers Point Elementary School Primary Regular 638 38 8
South Valley Jr. High School Middle Regular 1,193 53 9
Mesquite High School High Regular 2,000 82 6

Settlers Point Elementary School

  • Education Level: Primary
  • # of students: 638
  • # of teachers: 38
8
GreatSchools Rating

South Valley Jr. High School

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

Mesquite High School

  • Education Level: High
  • # of students: 2,000
  • # of teachers: 82
6
GreatSchools Rating
 

$467,910$571,890$519,900

PURCHASE PRICE

$1,989$2,431$2,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,210
EXPENSES Loan Payment -$1,806
Property Tax -$306
Property Insurance -$78
HOA -$19
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.

$519,900

PROJECTED PRICE

$2,210

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.5%
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$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$143,524

INVESTMENT

$143,524

Down Payment
$129,975
Rehab Estimate
$5,750
Closing Costs
$7,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,806

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $129,975
Loan Amount $389,925
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$21,920

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,210

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,283

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,2003$2,2104$2,2955$2,350
$2,350
RENT COMPS ANALYSIS
  • 60 W Sheffield Avenue Gilbert, AZ 3
    • 4 beds 2 baths ∙ 2,594 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,594 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,210
    • $0.85
    •  
  • 298 E Jasper Court Gilbert, AZ 1
    • 4 beds 3 baths ∙ 2,443 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,443 Sqft ∙ Built 1998
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.88
    •  
  • 353 W Dublin Street Gilbert, AZ 2
    • 4 beds 3 baths ∙ 2,682 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,682 Sqft ∙ Built 1998
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.82
    •  
  • 345 E Pinto Court Gilbert, AZ 4
    • 4 beds 3 baths ∙ 2,750 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,750 Sqft ∙ Built 1995
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.83
    •  
  • 85 W Sheffield Avenue Gilbert, AZ 5
    • 4 beds 2 baths ∙ 2,374 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,374 Sqft ∙ Built 1998
    LEASED 11/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.99
    •  
PROPERTY LISTING DETAILS
Scott L Dunnett
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6177621
Last Updated: 01/14/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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