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

6251 S Banning Street Gilbert, AZ 85298

3 Beds 2 Baths 1,964 sqft Built 2013

$419,900

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $213.80
  • 5 Days on Market
  • MLS # : 6179532
  • Updated Date : 01/16/2021 at 16:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,964 sqft
  • Baths : 2 full
Listing Agent

Hague Partners

Listing Agent's Description

Immaculate home in the coveted Shamrock Estates! This corner lot has a nice view of the community park right across the street. 3 bed, 2 bath with 2 car garage. Walk in to the open concept great room with a beautiful kitchen with plenty of cabinet space along with a pantry. This true split floor plan has 2 nice sized guest bedrooms with a dual sink guest bathroom. Very spacious master bathroom with separate tub and shower as well as walk in closet. Private backyard with extended patio space, home backs up to neighborhood street so no neighbors behind. Mature trees and green grass to let the kids or pets play. RV gate on side of house to store all your toys. Come see this home today!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Shamrock Estates

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $122k454k

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

Neighborhood: Shamrock Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10362178

* 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
Chandler Traditional Academy - Freedom Campus Primary Regular 839 38 9
Chandler Traditional Academy - Freedom Campus Middle Regular 839 38 9
Casteel High School High Regular NA

Chandler Traditional Academy - Freedom Campus

  • Education Level: Primary
  • # of students: 839
  • # of teachers: 38
9
GreatSchools Rating

Chandler Traditional Academy - Freedom Campus

  • Education Level: Middle
  • # of students: 839
  • # of teachers: 38
9
GreatSchools Rating

Casteel High School

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

$377,910$461,890$419,900

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,458
Property Tax -$266
Property Insurance -$65
HOA -$21
Property Management Fees -$99
CASH FLOW
$60

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.

$419,900

PROJECTED PRICE

$1,970

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.7%
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$20k

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$117,024

INVESTMENT

$117,024

Down Payment
$104,975
Rehab Estimate
$5,750
Closing Costs
$6,299

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,458

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $104,975
Loan Amount $314,925
See What Happens When You Reinvest Cash Flow

6

YEARS SAVED

$28,799

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
  • $1,861

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,7003$1,7254$1,8505$2,200
$2,200
RENT COMPS ANALYSIS
  • 6251 S Banning Street Gilbert, AZ 1
    • 3 beds 2 baths ∙ 1,964 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,964 Sqft ∙ Built 2013
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2988 E Palmdale Lane Gilbert, AZ 2
    • 3 beds 2 baths ∙ 1,888 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,888 Sqft ∙ Built 2011
    property image
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.90
    •  
  • 2867 E Anika Drive Gilbert, AZ 3
    • 4 beds 2 baths ∙ 1,974 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,974 Sqft ∙ Built 2007
    property image
    LEASED 12/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.87
    •  
  • 3279 E Morning Star Lane Gilbert, AZ 4
    • 3 beds 3 baths ∙ 1,857 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,857 Sqft ∙ Built 2007
    property image
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.00
    •  
  • 3227 E Virgil Drive Gilbert, AZ 5
    • 3 beds 3 baths ∙ 2,147 Sqft ∙ Built 2010 3 beds 3 baths ∙ 2,147 Sqft ∙ Built 2010
    property image
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.02
    •  
PROPERTY LISTING DETAILS
Taylor Magnuson
Hague Partners
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6179532
Last Updated: 01/16/2021
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.

BESbswy