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842 E Harwell Road Gilbert, AZ 85234

4 Beds 3 Baths 2,645 sqft Built 1991

$650,000

List Price

$2,340

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $245.75
  • 3 Days on Market
  • MLS # : 6160061
  • Updated Date : 11/13/2020 at 18:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,645 sqft
  • Baths : 3 full
Listing Agent

Dpr Realty Llc

Listing Agent's Description

**GREAT HORSE PROPERTY IN GILBERT ON CORNER LOT** 1.26 ACRES** CIRCULAR DRIVEWAY, DETACHED GUEST HOUSE, LARGE COVERED FLAGSTONE PATIO, DIVING POOL, SALTILLO TILE, SHUTTERS, VAULTED CEILINGS AND FINISHED BASEMENT.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Porter Acres

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $122k493k

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

Neighborhood: Porter Acres

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10362236

* 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
 

$585,000$715,000$650,000

PURCHASE PRICE

$2,106$2,574$2,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,340
EXPENSES Loan Payment -$2,398
Property Tax -$382
Property Insurance -$79
Property Management Fees -$99
CASH FLOW
-$618

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.

$650,000

PROJECTED PRICE

$2,340

PROJECTED RENT

0.36%

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$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$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$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$178,000

INVESTMENT

$178,000

Down Payment
$162,500
Rehab Estimate
$5,750
Closing Costs
$9,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,398

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $162,500
Loan Amount $487,500
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$4,576

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,340

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $2,559

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,3403$2,3504$2,8005$3,000
$3,000
RENT COMPS ANALYSIS
  • 842 E Harwell Road Gilbert, AZ 2
    • 4 beds 3 baths ∙ 2,645 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,645 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $2,340
    • $0.88
    •  
  • 3247 E Inverness Avenue Mesa, AZ 1
    • 3 beds 3 baths ∙ 2,457 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,457 Sqft ∙ Built 1997
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.85
    •  
  • 1419 E Encinas Avenue Gilbert, AZ 3
    • 4 beds 3 baths ∙ 2,370 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,370 Sqft ∙ Built 1992
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.99
    •  
  • 1326 E Catamaran Drive Gilbert, AZ 4
    • 4 beds 3 baths ∙ 2,788 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,788 Sqft ∙ Built 2005
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.00
    •  
  • 1549 E Catamaran Drive Gilbert, AZ 5
    • 4 beds 3 baths ∙ 2,900 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,900 Sqft ∙ Built 1988
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.03
    •  
PROPERTY LISTING DETAILS
Kevin King
Dpr Realty Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6160061
Last Updated: 11/13/2020
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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