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762 W Sereno Drive Gilbert, AZ 85233

4 Beds 3 Baths 1,704 sqft Built 1993

$389,900

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $228.81
  • 3 Days on Market
  • MLS # : 6163150
  • Updated Date : 11/21/2020 at 08:49
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,704 sqft
  • Baths : 2 full , 1 half
Listing Agent

Usellsmart Real Estate

Listing Agent's Description

LOCATION, LOCATION!!!THIS STUNNING AND AMAZING HOME IS IN THE MOST SOUGHT AFTER MARTIQUE, MINUTES FROM THE DESIRABLE DOWNTOWNOF GILBERT, WALKING DISTANCE TO SHOPS, RESTAURANTS AND CAFES, THIS AMAZING AND STUNNING HOME IS TOTALLY RENOVATED 3B2B UPSTAIRS AND A 1B AND 1/2 BATH DOWNSTAIRS. REMODELED CLEAN KITHCHEN WITH QUARTZ COUNTERTOP, DESIGNER PAINT OF BLEND OF GRAYS AND WHITES THROUGHOUT MAKES THIS HOME A JOY. NEW LAMINATE FLOORING (EASY MAINTENANCE NO CARPETS) HUGE AND SPACIOUS FAMILY ROOM WITH HIGH VAULTED CEILINGS. SPACIOUS BEDROOMS WITH STUNNING VIEW. NEW FANS, LIGHT FIXTURES. TONS OF STORAGES ON BOTH LEVELS. RENOVATED BATHROOOMS WITH HIGH END VANITIES, OVAL MIRROS, NEW SHOWERS, TOO MANY UPGARDES TO LIST. THIS WON'T LAST, BEAT THE CROWD AND BE THE FISRT TO SUBMIT AN OFFER!!!!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Martinque

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Martinque

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9571981

* 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
Gilbert Elementary School Primary Regular 592 39 6
Mesquite Jr High School Middle Regular 715 34 7
Mesquite High School High Regular 2,000 82 6

Gilbert Elementary School

  • Education Level: Primary
  • # of students: 592
  • # of teachers: 39
6
GreatSchools Rating

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
 

$350,910$428,890$389,900

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,439
Property Tax -$229
Property Insurance -$60
HOA -$65
Property Management Fees -$99
CASH FLOW
-$242

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.

$389,900

PROJECTED PRICE

$1,650

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.4%
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-$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$109,074

INVESTMENT

$109,074

Down Payment
$97,475
Rehab Estimate
$5,750
Closing Costs
$5,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,439

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $97,475
Loan Amount $292,425
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$8,117

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,593

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5953$1,6254$1,6505$1,650
$1,650
RENT COMPS ANALYSIS
  • 762 W Sereno Drive Gilbert, AZ 5
    • 4 beds 3 baths ∙ 1,704 Sqft ∙ Built 1993 4 beds 3 baths ∙ 1,704 Sqft ∙ Built 1993
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.97
    •  
  • 631 W Amoroso Drive Gilbert, AZ 1
    • 3 beds 3 baths ∙ 1,704 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,704 Sqft ∙ Built 1992
    property image
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.91
    •  
  • 526 S Quail Lane Gilbert, AZ 2
    • 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 1991
    property image
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.97
    •  
  • 638 W Sereno Drive Gilbert, AZ 3
    • 3 beds 3 baths ∙ 1,704 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,704 Sqft ∙ Built 1993
    property image
    LEASED 02/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.95
    •  
  • 717 W Sagebrush Street Gilbert, AZ 4
    • 3 beds 2 baths ∙ 1,818 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,818 Sqft ∙ Built 1991
    property image
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.91
    •  
PROPERTY LISTING DETAILS
Joe Montalto
Usellsmart Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6163150
Last Updated: 11/21/2020
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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