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882 W Tremaine Avenue Gilbert, AZ 85233

3 Beds 2 Baths 1,751 sqft Built 1998

$399,900

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $228.38
  • 3 Days on Market
  • MLS # : 6206673
  • Updated Date : 03/12/2021 at 23:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,751 sqft
  • Baths : 2 full
Listing Agent

Sonoran Desert Realty

Listing Agent's Description

This is it! Come and see this gorgeous move in ready home nestled in the subdivision of Sonesta Estates. This home features great curb appeal leading past the charming front porch and into the must see interior. Beautiful wood look tile, custom two tone paint, vaulted ceilings and large windows for an abundance of natural light. You will love the open concept floorplan for gathering with friends and family. Updated kitchen would delight any chef with gas cooking, stainless steel appliances, stylish tile backsplash, sleek countertops and pendant lighting over the breakfast bar. Lovely master includes en suite with dual sinks, soaking tub and separate shower. Enjoy entertaining in the inviting backyard complete with covered patio and a firepit. Do not miss out. See it today!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Sonesta Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Sonesta Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10071981

* 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
Mesquite Jr High School Middle Regular 715 34 7
Mesquite High School High Regular 2,000 82 6
Mesquite Jr High School Middle Unknown NA

Mesquite Jr High School

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

Mesquite High School

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

Mesquite Jr High School

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

$359,910$439,890$399,900

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$1,389
Property Tax -$235
Property Insurance -$61
HOA -$49
Property Management Fees -$99
CASH FLOW
-$144

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.

$399,900

PROJECTED PRICE

$1,690

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 2.9%
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-$5.0k$0.0$5.0k$10k

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$111,724

INVESTMENT

$111,724

Down Payment
$99,975
Rehab Estimate
$5,750
Closing Costs
$5,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,975
Loan Amount $299,925
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$11,918

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,895

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,690
1$1,6902$1,7503$1,9954$2,1005$2,200
$2,200
RENT COMPS ANALYSIS
  • 882 W Tremaine Avenue Gilbert, AZ 1
    • 3 beds 2 baths ∙ 1,751 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,751 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.97
    •  
  • 462 W Douglas Avenue Gilbert, AZ 2
    • 4 beds 2 baths ∙ 1,795 Sqft ∙ Built 1996 4 beds 2 baths ∙ 1,795 Sqft ∙ Built 1996
    property image
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.97
    •  
  • 991 W Juanita Avenue Gilbert, AZ 3
    • 3 beds 2 baths ∙ 1,838 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,838 Sqft ∙ Built 1994
    property image
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.09
    •  
  • 763 W Douglas Avenue Gilbert, AZ 4
    • 4 beds 2 baths ∙ 1,899 Sqft ∙ Built 1996 4 beds 2 baths ∙ 1,899 Sqft ∙ Built 1996
    property image
    LEASED 11/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.11
    •  
  • 718 W Douglas Avenue Gilbert, AZ 5
    • 4 beds 2 baths ∙ 1,899 Sqft ∙ Built 1996 4 beds 2 baths ∙ 1,899 Sqft ∙ Built 1996
    property image
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.16
    •  
PROPERTY LISTING DETAILS
Mark Lester
Sonoran Desert Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6206673
Last Updated: 03/12/2021
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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