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870 W Laredo Avenue Gilbert, AZ 85233

5 Beds 3 Baths 2,925 sqft Built 1996

$529,900

List Price

$2,400

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $181.16
  • 3 Days on Market
  • MLS # : 6172987
  • Updated Date : 12/18/2020 at 18:30
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,925 sqft
  • Baths : 3 full
Listing Agent

Investar Real Estate Specialists Llc

Listing Agent's Description

This is a beautiful and spacious single level home with 5 bedrooms, 2 1/2 bathrooms, a formal living, huge family room. It has very tall ceiling, a pebble tac pool and Spa. The kitchen boasts granite counter tops, and an island with a sink. Next to the kitchen is a huge family room. Refrigerator has two stage water filter. The split floor plan provides plenty of privacy for the enormous master bedroom. The master bathroom features double sinks, separate shower/tub, and a spacious walk in closet. The guest bedrooms provide plenty of room for family/friends. The three car garage provides plenty space for parking. There are too many upgrade to mention. (See SPDS) Please show. This one won't last long.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Madera Parc Estates

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $122k472k

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

Neighborhood: Madera Parc Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10362237

* 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
Islands Elementary School Primary Regular 598 39 7
Islands Elementary School Middle Regular 598 39 7
Mesquite High School High Regular 2,000 82 6

Islands Elementary School

  • Education Level: Primary
  • # of students: 598
  • # of teachers: 39
7
GreatSchools Rating

Islands Elementary School

  • Education Level: Middle
  • # of students: 598
  • # of teachers: 39
7
GreatSchools Rating

Mesquite High School

  • Education Level: High
  • # of students: 2,000
  • # of teachers: 82
6
GreatSchools Rating
 

$476,910$582,890$529,900

PURCHASE PRICE

$2,160$2,640$2,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,400
EXPENSES Loan Payment -$1,955
Property Tax -$312
Property Insurance -$84
HOA -$17
Property Management Fees -$99
CASH FLOW
-$67

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.

$529,900

PROJECTED PRICE

$2,400

PROJECTED RENT

0.45%

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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$146,174

INVESTMENT

$146,174

Down Payment
$132,475
Rehab Estimate
$5,750
Closing Costs
$7,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,955

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $132,475
Loan Amount $397,425
See What Happens When You Reinvest Cash Flow

4.83

YEARS SAVED

$30,803

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,400

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,406

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,175
1$2,1752$2,2953$2,4004$2,4005$2,695
$2,695
RENT COMPS ANALYSIS
  • 870 W Laredo Avenue Gilbert, AZ 4
    • 5 beds 3 baths ∙ 2,925 Sqft ∙ Built 1996 5 beds 3 baths ∙ 2,925 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.82
    •  
  • 425 W Fabens Lane Gilbert, AZ 1
    • 4 beds 3 baths ∙ 2,836 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,836 Sqft ∙ Built 2000
    LEASED 12/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $0.77
    •  
  • 843 W Rawhide Avenue Gilbert, AZ 2
    • 4 beds 3 baths ∙ 2,925 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,925 Sqft ∙ Built 1995
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.78
    •  
  • 825 W Laredo Avenue Gilbert, AZ 3
    • 4 beds 3 baths ∙ 3,171 Sqft ∙ Built 1998 4 beds 3 baths ∙ 3,171 Sqft ∙ Built 1998
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.76
    •  
  • 1426 W Key Largo Court Gilbert, AZ 5
    • 4 beds 3 baths ∙ 2,740 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,740 Sqft ∙ Built 1986
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.98
    •  
PROPERTY LISTING DETAILS
Weiguo Tang
Investar Real Estate Specialists Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6172987
Last Updated: 12/18/2020
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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