Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

879 E Loma Vista Street Gilbert, AZ 85295

5 Beds 3 Baths 2,773 sqft Built 1999

$610,000

List Price

$2,260

$2K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $219.98
  • 1 Days on Market
  • MLS # : 6206507
  • Updated Date : 03/14/2021 at 01:45
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,773 sqft
  • Baths : 3 full
Listing Agent

Home Again Arizona, Real Estate And Property Management

Listing Agent's Description

Welcome Home! This beautiful 5 bedroom, 3 Bath home on 1/3 acre is perfect for entertaining with room to spread out! Upon entering there is a large living room with soaring tall ceilings with picture windows overlooking the beautiful remodeled oasis-like pool and inviting backyard. Rock Waterfall/slide, pebble tec and pool deck all remodeled last year. Two bedrooms and full bathroom downstairs. Master and 2 additional bedrooms upstairs with a loft. Bathroom showers have been remodeled with tile. Open kitchen to family room with built-in shelves/media center and gas fireplace. Large walk-in pantry and laundry room. 2 car garage with oversized driveway and 10 ft RV gate. Very well maintained home! Highly desirable location in Gilbert!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Serrano

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $122k407k

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

Neighborhood: Serrano

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10362043

* 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
South Valley Jr. High School Middle Regular 1,193 53 9
Campo Verde High School High Regular 2,094 86 8
South Valley Jr. High School Middle Unknown NA

South Valley Jr. High School

  • Education Level: Middle
  • # of students: 1,193
  • # of teachers: 53
9
GreatSchools Rating

Campo Verde High School

  • Education Level: High
  • # of students: 2,094
  • # of teachers: 86
8
GreatSchools Rating

South Valley Jr. High School

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

$549,000$671,000$610,000

PURCHASE PRICE

$2,034$2,486$2,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,260
EXPENSES Loan Payment -$2,119
Property Tax -$359
Property Insurance -$81
HOA -$19
Property Management Fees -$99
CASH FLOW
-$417

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.

$610,000

PROJECTED PRICE

$2,260

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 2.5%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$167,400

INVESTMENT

$167,400

Down Payment
$152,500
Rehab Estimate
$5,750
Closing Costs
$9,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,119

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $152,500
Loan Amount $457,500
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$7,718

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,260

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,350

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,1503$2,2604$2,5005$2,600
$2,600
RENT COMPS ANALYSIS
  • 879 E Loma Vista Street Gilbert, AZ 3
    • 5 beds 3 baths ∙ 2,773 Sqft ∙ Built 1999 5 beds 3 baths ∙ 2,773 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,260
    • $0.82
    •  
  • 2164 S Southwind Drive Gilbert, AZ 1
    • 4 beds 3 baths ∙ 2,493 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,493 Sqft ∙ Built 1999
    property image
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.78
    •  
  • 298 E Jasper Court Gilbert, AZ 2
    • 4 beds 3 baths ∙ 2,443 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,443 Sqft ∙ Built 1998
    property image
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.88
    •  
  • 1547 E Erie Street Gilbert, AZ 4
    • 5 beds 3 baths ∙ 3,082 Sqft ∙ Built 1998 5 beds 3 baths ∙ 3,082 Sqft ∙ Built 1998
    property image
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.81
    •  
  • 953 E Boston Street Gilbert, AZ 5
    • 4 beds 3 baths ∙ 2,826 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,826 Sqft ∙ Built 2013
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.92
    •  
PROPERTY LISTING DETAILS
Kristen R Wagner
Home Again Arizona, Real Estate And Property Management
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6206507
Last Updated: 03/14/2021
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.

BESbswy