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611 W Harvard Avenue Gilbert, AZ 85233

5 Beds 3 Baths 3,065 sqft Built 1996

$549,000

List Price

$2,380

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

December 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $179.12
  • 2 Days on Market
  • MLS # : 6173167
  • Updated Date : 12/26/2020 at 16:49
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,065 sqft
  • Baths : 3 full
Listing Agent

Delex Realty

Listing Agent's Description

Gorgeous two story home w/a 3 car garage & meticulous landscape. Rare 5 bedroom home w/vaulted ceilings, plantation shutters, welcoming palette, plush carpet in all the right places, & beautiful wood ''look'' tile floors. Gorgeous stone fireplace, ceiling fans, plant shelves, & French doors patio. Stunning chefs kitchen features a large center island, stylish counters, breakfast bar, pantry, & plethora of white cabinets w/hardware. Perfect gathering place for family & friends. French door into the den, upgraded lighting, . Generous sized bedrooms, ample closets, 3 pristine baths w/updates, & interior laundry room. Grand master retreat w/a sitting area & private en suite w/dual sinks. Bonus room w/endless possibilities. Sensational backyard setting! Sparkling

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
 

$494,100$603,900$549,000

PURCHASE PRICE

$2,142$2,618$2,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,380
EXPENSES Loan Payment -$2,026
Property Tax -$323
Property Insurance -$87
HOA -$61
Property Management Fees -$99
CASH FLOW
-$215

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.

$549,000

PROJECTED PRICE

$2,380

PROJECTED RENT

0.43%

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$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$151,235

INVESTMENT

$151,235

Down Payment
$137,250
Rehab Estimate
$5,750
Closing Costs
$8,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,026

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $137,250
Loan Amount $411,750
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$19,495

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,380

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $2,421

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$2,175
1$2,1752$2,3253$2,3804$2,3955$2,600
$2,600
RENT COMPS ANALYSIS
  • 611 W Harvard Avenue Gilbert, AZ 3
    • 5 beds 3 baths ∙ 3,065 Sqft ∙ Built 1996 5 beds 3 baths ∙ 3,065 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $2,380
    • $0.78
    •  
  • 425 W Fabens Lane Gilbert, AZ 1
    • 4 beds 3 baths ∙ 2,836 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,836 Sqft ∙ Built 2000
    LEASED 12/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $0.77
    •  
  • 1490 W Laurel Avenue Gilbert, AZ 2
    • 4 beds 3 baths ∙ 3,013 Sqft ∙ Built 1996 4 beds 3 baths ∙ 3,013 Sqft ∙ Built 1996
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,325
    • $0.77
    •  
  • 747 W Desert Avenue Gilbert, AZ 4
    • 5 beds 3 baths ∙ 2,879 Sqft ∙ Built 1998 5 beds 3 baths ∙ 2,879 Sqft ∙ Built 1998
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.83
    •  
  • 953 N Layman Street Gilbert, AZ 5
    • 5 beds 3 baths ∙ 3,273 Sqft ∙ Built 1995 5 beds 3 baths ∙ 3,273 Sqft ∙ Built 1995
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.79
    •  
PROPERTY LISTING DETAILS
Ruth Mitchell
Delex Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6173167
Last Updated: 12/26/2020
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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