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702 W Stanford Avenue Gilbert, AZ 85233

3 Beds 2 Baths 2,152 sqft Built 1996

$500,000

List Price

$2,060

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $232.34
  • 2 Days on Market
  • MLS # : 6209826
  • Updated Date : 03/21/2021 at 04:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,152 sqft
  • Baths : 2 full
Listing Agent

Homes Of Harvest Llc

Listing Agent's Description

Beautiful 3 bedroom + den, 2 bath Gilbert home with 3 car garage on excellent corner lot location. No neighbor to your right or behind you! Large greenbelt area behind the house with your own private gate from the backyard!! Oversized lot with mature trees gives nice privacy for your sparkling pool! Community basketball court, volleyball, playground, biking and walking pathways, and plenty of grass areas! Popular open floorplan with kitchen open to family room. Beautiful shutters and wood floors throughout the home. Carpets just cleaned. Ceiling fans in all the rooms. All appliances included. AC new July 2019. This one is a gem! Owners took great care of the home and it shows. Same house on the street without a pool, no shutters and no wood floors just closed for $475K 3-16-21.

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
Mesquite Jr High School Middle Regular 715 34 7
Mesquite High School High Regular 2,000 82 6
Mesquite Jr High School Middle Unknown NA

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

Mesquite Jr High School

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

$450,000$550,000$500,000

PURCHASE PRICE

$1,854$2,266$2,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,060
EXPENSES Loan Payment -$1,737
Property Tax -$294
Property Insurance -$69
HOA -$20
Property Management Fees -$99
CASH FLOW
-$159

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.

$500,000

PROJECTED PRICE

$2,060

PROJECTED RENT

0.41%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,250

INVESTMENT

$138,250

Down Payment
$125,000
Rehab Estimate
$5,750
Closing Costs
$7,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,737

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $125,000
Loan Amount $375,000
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$16,483

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,060

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $2,297

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$2,060
1$2,0602$2,1003$2,1504$2,3005$2,450
$2,450
RENT COMPS ANALYSIS
  • 702 W Stanford Avenue Gilbert, AZ 1
    • 3 beds 2 baths ∙ 2,152 Sqft ∙ Built 1996 3 beds 2 baths ∙ 2,152 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,060
    • $0.96
    •  
  • 1114 N Whipple Court Gilbert, AZ 2
    • 4 beds 3 baths ∙ 2,106 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,106 Sqft ∙ Built 1995
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.00
    •  
  • 299 W Merrill Avenue Gilbert, AZ 3
    • 3 beds 2 baths ∙ 1,993 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,993 Sqft ∙ Built 1998
    property image
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.08
    •  
  • 1101 N Eldon Court Gilbert, AZ 4
    • 3 beds 3 baths ∙ 2,106 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,106 Sqft ∙ Built 1995
    property image
    LEASED 03/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.09
    •  
  • 913 W Juanita Avenue Gilbert, AZ 5
    • 4 beds 3 baths ∙ 2,232 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,232 Sqft ∙ Built 1994
    property image
    LEASED 10/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.10
    •  
PROPERTY LISTING DETAILS
Amanda Wolfe
Homes Of Harvest Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6209826
Last Updated: 03/21/2021
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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