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PROPERTY INFO
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!
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PRICE & RENT TRENDS
Neighborhood: Madera Parc
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Madera Parc
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$111,750
LOAN DETAILS
$1,389
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $100,000 |
| Loan Amount | $300,000 |
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
-
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
Keller Williams Integrity First
1.866.250.5610
Mynd Property Management
LC664597000
MLS #: 6186676
Last Updated: 01/30/2021
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.
