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705 W Country Estates Avenue Gilbert, AZ 85233

3 Beds 2 Baths 1,464 sqft Built 1996

$399,900

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $273.16
  • 3 Days on Market
  • MLS # : 6209425
  • Updated Date : 03/19/2021 at 16:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,464 sqft
  • Baths : 2 full
Listing Agent

Offerpad

Listing Agent's Description

VACANT! Updated single level in Dave Brown Country Estates! Fresh interior paint and carpet! Updated kitchen with granite countertops, stainless steel appliances, designer backsplash and large island! Covered patio in spacious backyard. Close to Downtown Gilbert and the freeway! Tour today!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Dave Brown Country Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Dave Brown Country Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9201981

* 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
South Valley Jr. High School Middle Regular 1,193 53 9
Mesquite High School High Regular 2,000 82 6
Mesquite Jr High School Middle Unknown NA

South Valley Jr. High School

  • Education Level: Middle
  • # of students: 1,193
  • # of teachers: 53
9
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
 

$359,910$439,890$399,900

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$1,389
Property Tax -$235
Property Insurance -$56
HOA -$15
Property Management Fees -$99
CASH FLOW
-$194

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.

$399,900

PROJECTED PRICE

$1,600

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.1%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

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$111,724

INVESTMENT

$111,724

Down Payment
$99,975
Rehab Estimate
$5,750
Closing Costs
$5,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,975
Loan Amount $299,925
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$9,339

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $1,596

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,5953$1,6004$1,6505$1,695
$1,695
RENT COMPS ANALYSIS
  • 705 W Country Estates Avenue Gilbert, AZ 3
    • 3 beds 2 baths ∙ 1,464 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,464 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.09
    •  
  • 1562 S Monterey Street Gilbert, AZ 1
    • 3 beds 2 baths ∙ 1,464 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,464 Sqft ∙ Built 1996
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.09
    •  
  • 1425 S Monterey Street Gilbert, AZ 2
    • 3 beds 2 baths ∙ 1,464 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,464 Sqft ∙ Built 1996
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.09
    •  
  • 641 W Liberty Lane Gilbert, AZ 4
    • 3 beds 2 baths ∙ 1,464 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,464 Sqft ∙ Built 1997
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.13
    •  
  • 823 W Bradford Drive Gilbert, AZ 5
    • 3 beds 3 baths ∙ 1,613 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,613 Sqft ∙ Built 1992
    LEASED 11/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.05
    •  
PROPERTY LISTING DETAILS
Derek Dickson
Offerpad
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6209425
Last Updated: 03/19/2021
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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