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

620 E Appaloosa Road Gilbert, AZ 85296

5 Beds 3 Baths 2,220 sqft Built 1988

$385,000

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $173.42
  • 4 Days on Market
  • MLS # : 6165100
  • Updated Date : 11/28/2020 at 21:38
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,220 sqft
  • Baths : 3 full
Listing Agent

Altus Realty Llc

Listing Agent's Description

NO HOA!!! 5 bed 3 bath Home on a Corner Lot with Arizona Room, Brick Fireplace, upgraded lighting, & French doors to AZ room with split AC Unit. Granite kitchen counters, vaulted ceiling, SS appliances, breakfast bar, & plenty of soft-closing wood cabinets w/hardware. RV Gate & Parking.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Spring Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Spring Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10091981

* 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
Mesquite Elementary School Primary Regular 612 34 8
Mesquite Elementary School Middle Regular 612 34 8
Gilbert High School High Regular 2,470 113 7

Mesquite Elementary School

  • Education Level: Primary
  • # of students: 612
  • # of teachers: 34
8
GreatSchools Rating

Mesquite Elementary School

  • Education Level: Middle
  • # of students: 612
  • # of teachers: 34
8
GreatSchools Rating

Gilbert High School

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

$346,500$423,500$385,000

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,420
Property Tax -$280
Property Insurance -$70
Property Management Fees -$99
CASH FLOW
$40

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.

$385,000

PROJECTED PRICE

$1,910

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.8%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$107,775

INVESTMENT

$107,775

Down Payment
$96,250
Rehab Estimate
$5,750
Closing Costs
$5,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,420

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $96,250
Loan Amount $288,750
See What Happens When You Reinvest Cash Flow

5.92

YEARS SAVED

$30,098

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,026

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8253$1,8954$1,9105$2,050
$2,050
RENT COMPS ANALYSIS
  • 620 E Appaloosa Road Gilbert, AZ 4
    • 5 beds 3 baths ∙ 2,220 Sqft ∙ Built 1988 5 beds 3 baths ∙ 2,220 Sqft ∙ Built 1988
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.86
    •  
  • 1142 E San Tan Drive Gilbert, AZ 1
    • 4 beds 3 baths ∙ 2,041 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,041 Sqft ∙ Built 1999
    property image
    LEASED 02/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.88
    •  
  • 1148 S Roca Street Gilbert, AZ 2
    • 4 beds 2 baths ∙ 2,094 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,094 Sqft ∙ Built 2000
    property image
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.87
    •  
  • 629 S Burk Street Gilbert, AZ 3
    • 4 beds 2 baths ∙ 2,134 Sqft ∙ Built 1994 4 beds 2 baths ∙ 2,134 Sqft ∙ Built 1994
    property image
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.89
    •  
  • 514 E Sherri Drive Gilbert, AZ 5
    • 4 beds 3 baths ∙ 2,039 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,039 Sqft ∙ Built 1997
    property image
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.01
    •  
PROPERTY LISTING DETAILS
Daniel Mullins
Altus Realty Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6165100
Last Updated: 11/28/2020
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.

BESbswy