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6699 S Balboa Drive Gilbert, AZ 85298

4 Beds 3 Baths 2,758 sqft Built 2011

$600,000

List Price

$2,360

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2011
  • Price/Sqft : $217.55
  • 5 Days on Market
  • MLS # : 6185470
  • Updated Date : 01/28/2021 at 18:04
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,758 sqft
  • Baths : 2 full , 1 half
Listing Agent

United Brokers Group

Listing Agent's Description

COMING SOON!! No showings until Sat. 1/30 11am. Move in Ready single story, 3car, pool and in amazing Gilbert location. 1mile from the new designed Regional Park. Luxury semi custom home with tons of upgrades, entertaining space and a beautiful pool!Located in the golf course community of Seville in Gilbert! Gilbert is ranked one of America's safest and best cities to live in. This homes has designer touches and will reflect some of the best design/finishes that most model homes have! Move in ready and very immaculate home. To top it all off the backyard is like an oasis resort with the custom pool and designed landscape.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Seville

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $122k388k

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

Neighborhood: Seville

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10362109

* 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
Payne Junior High School Middle Regular 1,518 70 9
Basha High School High Regular 2,646 125 8

Payne Junior High School

  • Education Level: Middle
  • # of students: 1,518
  • # of teachers: 70
9
GreatSchools Rating

Basha High School

  • Education Level: High
  • # of students: 2,646
  • # of teachers: 125
8
GreatSchools Rating
 

$540,000$660,000$600,000

PURCHASE PRICE

$2,124$2,596$2,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,360
EXPENSES Loan Payment -$2,084
Property Tax -$419
Property Insurance -$81
HOA -$12
Property Management Fees -$99
CASH FLOW
-$335

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.

$600,000

PROJECTED PRICE

$2,360

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.2%
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

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$164,750

INVESTMENT

$164,750

Down Payment
$150,000
Rehab Estimate
$5,750
Closing Costs
$9,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,084

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $150,000
Loan Amount $450,000
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$10,796

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,360

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,524

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,3603$2,3954$2,3995$2,550
$2,550
RENT COMPS ANALYSIS
  • 6699 S Balboa Drive Gilbert, AZ 2
    • 4 beds 3 baths ∙ 2,758 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,758 Sqft ∙ Built 2011
    • Rent
    • Rent Per SQFT
    •  
    • $2,360
    • $0.86
    •  
  • 6933 S View Lane Gilbert, AZ 1
    • 5 beds 3 baths ∙ 2,586 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,586 Sqft ∙ Built 2005
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.85
    •  
  • 2900 E Killarney Street Gilbert, AZ 3
    • 3 beds 3 baths ∙ 2,675 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,675 Sqft ∙ Built 2016
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.90
    •  
  • 3334 E Lafayette Avenue Gilbert, AZ 4
    • 5 beds 3 baths ∙ 2,529 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,529 Sqft ∙ Built 2005
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,399
    • $0.95
    •  
  • 6479 S Tucana Lane Gilbert, AZ 5
    • 3 beds 3 baths ∙ 2,645 Sqft ∙ Built 2012 3 beds 3 baths ∙ 2,645 Sqft ∙ Built 2012
    LEASED 01/20/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.96
    •  
PROPERTY LISTING DETAILS
Shawn Camacho
United Brokers Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6185470
Last Updated: 01/28/2021
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.

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