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814 E Princeton Avenue Gilbert, AZ 85234

3 Beds 2 Baths 1,537 sqft Built 1992

$340,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $221.21
  • 5 Days on Market
  • MLS # : 6158334
  • Updated Date : 11/14/2020 at 19:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,537 sqft
  • Baths : 2 full
Listing Agent

West Usa Realty

Listing Agent's Description

You won't want to miss this lovely 3 bed/2 bath, 1,640 sqft home on a cul-de-sac with NO HOA in Gilbert! This home has been freshly painted, new white cabinets, & new plank tile flooring throughout! The spacious great room floor plan has a large breakfast nook area & the skylights & vaulted ceilings make it open & light. ALL appliances included, as well as the refrigerator in the garage! Laundry room boasts an extended pantry for plenty of storage and build in desk area with extra cabinetry. The backyard features a sparkling play pool, grass area and covered patio for relaxing with the family. You can't beat this location close to downtown Gilbert and a short walk to the greenbelt & playground, Freestone Rec center, schools, etc.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Meadows East

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $122k372k

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

Neighborhood: Meadows East

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10292046

* 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
Houston Elementary School Primary Regular 482 39 6
Mesquite Jr High School Middle Regular 715 34 7
Gilbert High School High Regular 2,470 113 7

Houston Elementary School

  • Education Level: Primary
  • # of students: 482
  • # of teachers: 39
6
GreatSchools Rating

Mesquite Jr High School

  • Education Level: Middle
  • # of students: 715
  • # of teachers: 34
7
GreatSchools Rating

Gilbert High School

  • Education Level: High
  • # of students: 2,470
  • # of teachers: 113
7
GreatSchools Rating
 

$306,000$374,000$340,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,254
Property Tax -$247
Property Insurance -$59
Property Management Fees -$99
CASH FLOW
$40

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.

$340,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.1%
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$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$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

6

YEARS SAVED

$27,103

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,837

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7003$1,8504$1,8505$2,000
$2,000
RENT COMPS ANALYSIS
  • 814 E Princeton Avenue Gilbert, AZ 2
    • 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.04
    •  
  • 1149 E Princeton Avenue Gilbert, AZ 1
    • 3 beds 2 baths ∙ 1,486 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,486 Sqft ∙ Built 1990
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.14
    •  
  • 837 N Sailors Way Gilbert, AZ 3
    • 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 1991
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.11
    •  
  • 1232 E Scott Avenue Gilbert, AZ 4
    • 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 1991
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.06
    •  
  • 1003 E Princeton Avenue Gilbert, AZ 5
    • 3 beds 3 baths ∙ 1,710 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,710 Sqft ∙ Built 1995
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.17
    •  
PROPERTY LISTING DETAILS
Alisha B Anderson
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6158334
Last Updated: 11/14/2020
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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