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713 W Palo Verde Street Gilbert, AZ 85233

4 Beds 2 Baths 2,068 sqft Built 1990

$400,000

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $193.42
  • 4 Days on Market
  • MLS # : 6186676
  • Updated Date : 01/30/2021 at 20:32
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,068 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Integrity First

Listing Agent's Description

Charming Gilbert home with NO HOA right next to the super popular Heritage District! North facing ranch home with over 2,000 sq ft, 3 large bedrooms, a huge den or 4th bedroom and brand new exterior paint. You will fall in love with this light, bright, and open home, with tons of windows, vaulted ceilings, neutral 2 tone paint, crown molding, upgraded fixtures. The kitchen features white cabinets with hardware, quartz counters, huge island with storage, stone subway tile backsplash, large pantry, cozy dining area that looks out to the huge covered patio. The master retreat has double sinks, separate tub and shower, and a walk-in closet. This home is in the perfect location next to downtown Gilbert, tons of restaurants, shopping, and parks! Not too mention great freeway access!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Madera Parc

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Madera Parc

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9411981

* 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
 

$360,000$440,000$400,000

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$1,389
Property Tax -$284
Property Insurance -$68
Property Management Fees -$99
CASH FLOW
-$30

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.

$400,000

PROJECTED PRICE

$1,810

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.4%
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$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% 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 $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

4.92

YEARS SAVED

$19,888

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,959

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,8103$1,9354$1,9505$2,195
$2,195
RENT COMPS ANALYSIS
  • 713 W Palo Verde Street Gilbert, AZ 2
    • 4 beds 2 baths ∙ 2,068 Sqft ∙ Built 1990 4 beds 2 baths ∙ 2,068 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $0.88
    •  
  • 344 S Bronco Lane Gilbert, AZ 1
    • 4 beds 2 baths ∙ 1,874 Sqft ∙ Built 1988 4 beds 2 baths ∙ 1,874 Sqft ∙ Built 1988
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.90
    •  
  • 1406 W Lake Mirage Court Gilbert, AZ 3
    • 3 beds 3 baths ∙ 1,946 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,946 Sqft ∙ Built 1991
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,935
    • $0.99
    •  
  • 38 S Sundial Drive Gilbert, AZ 4
    • 3 beds 3 baths ∙ 2,147 Sqft ∙ Built 1991 3 beds 3 baths ∙ 2,147 Sqft ∙ Built 1991
    LEASED 08/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.91
    •  
  • 626 W Palo Verde Street Gilbert, AZ 5
    • 4 beds 3 baths ∙ 2,210 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,210 Sqft ∙ Built 1988
    LEASED 02/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.99
    •  
PROPERTY LISTING DETAILS
Mike Schude
Keller Williams Integrity First
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6186676
Last Updated: 01/30/2021
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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