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822 S Reber Avenue Gilbert, AZ 85296

5 Beds 3 Baths 2,584 sqft Built 2013

$379,900

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $147.02
  • 3 Days on Market
  • MLS # : 6186852
  • Updated Date : 01/29/2021 at 15:22
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,584 sqft
  • Baths : 3 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

This 5 bed, 3 baths, 2,584 square foot home built in 2013 is in a prime location in Gilbert, Arizona. Stainless Steel GE appliances with a Gas Range, Front Loading Washer, Dryer and Integrated Speaker System in Master, Family, Kitchen, and Garage, Master Suite includes his and her walk in closets with unobstructed views of the Superstition Mountains. The home resides in the Cooley Station community of single-family homes that epitomize Gilbert's trademark luxury. Cooley Station also provides it residents with access to plenty of open spaces, exclusive private parks, a ton of playground equipment and 3 resort style pools. New Floors, New Carpet, Freshly painted inside and outside.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Cooley Station North

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Cooley Station North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9611981

* 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
Cooley Middle School Middle Unknown 915 39 NA
Williams Field High School High Regular 1,705 64 7

Cooley Middle School

  • Education Level: Middle
  • # of students: 915
  • # of teachers: 39
NA
GreatSchools Rating

Williams Field High School

  • Education Level: High
  • # of students: 1,705
  • # of teachers: 64
7
GreatSchools Rating
 

$341,910$417,890$379,900

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$1,320
Property Tax -$259
Property Insurance -$78
HOA -$145
Property Management Fees -$99
CASH FLOW
-$140

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.

$379,900

PROJECTED PRICE

$1,760

PROJECTED RENT

0.46%

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$106,424

INVESTMENT

$106,424

Down Payment
$94,975
Rehab Estimate
$5,750
Closing Costs
$5,699

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,320

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $94,975
Loan Amount $284,925
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$9,688

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $1,886

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,760
1$1,7602$1,8003$1,8004$1,8505$1,895
$1,895
RENT COMPS ANALYSIS
  • 822 S Reber Avenue Gilbert, AZ 1
    • 5 beds 3 baths ∙ 2,584 Sqft ∙ Built 2013 5 beds 3 baths ∙ 2,584 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.68
    •  
  • 851 S Reber Avenue Gilbert, AZ 2
    • 4 beds 3 baths ∙ 2,539 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,539 Sqft ∙ Built 2013
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.71
    •  
  • 863 S Reber Avenue Gilbert, AZ 3
    • 4 beds 3 baths ∙ 2,539 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,539 Sqft ∙ Built 2013
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.71
    •  
  • 857 S Adam Way Gilbert, AZ 4
    • 4 beds 3 baths ∙ 2,467 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,467 Sqft ∙ Built 2006
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.75
    •  
  • 826 S Henry Lane Gilbert, AZ 5
    • 4 beds 3 baths ∙ 2,539 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,539 Sqft ∙ Built 2013
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.75
    •  
PROPERTY LISTING DETAILS
Joseph Iuculano Ii
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6186852
Last Updated: 01/29/2021
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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