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887 S Swallow Lane Gilbert, AZ 85296

4 Beds 3 Baths 2,268 sqft Built 2015

$400,000

List Price

$2,170

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $176.37
  • 3 Days on Market
  • MLS # : 6202897
  • Updated Date : 03/05/2021 at 20:23
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,268 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Integrity First

Listing Agent's Description

Beautiful Gilbert home in Copper Ranch with a highly upgraded kitchen featuring granite countertops, stainless steel appliances, including the refrigerator, and upgraded lighting fixtures! The great room floor plan offers a large area for a dining room table, neutral bamboo look laminate flooring. Downstairs is a bedroom and full bathroom, perfect for a home office, or guest suite! Don't miss the 2 in faux wood blinds, neutral 2 tone paint. Upstairs is fabulous with 2 secondary bedrooms, the master bedroom suite, a loft, and an office with built in cabinetry. The laundry room is also upstairs and includes the washer and dryer. This floorplan is awesome!! Not only is the home spacious, but so is the backyard!! There is artificial grass, tons of pavers and a partial view fence.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Copper Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Copper Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9181981

* 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
 

$360,000$440,000$400,000

PURCHASE PRICE

$1,953$2,387$2,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,170
EXPENSES Loan Payment -$1,389
Property Tax -$273
Property Insurance -$71
HOA -$69
Property Management Fees -$99
CASH FLOW
$268

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.

$400,000

PROJECTED PRICE

$2,170

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.9%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% 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 $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

8.58

YEARS SAVED

$46,964

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,170

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $2,177

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$2,099
1$2,0992$2,0993$2,1504$2,1705$2,195
$2,195
RENT COMPS ANALYSIS
  • 887 S Swallow Lane Gilbert, AZ 4
    • 4 beds 3 baths ∙ 2,268 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,268 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,170
    • $0.96
    •  
  • 860 S Pheasant Drive Gilbert, AZ 1
    • 4 beds 3 baths ∙ 2,268 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,268 Sqft ∙ Built 2016
    LEASED 10/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,099
    • $0.93
    •  
  • 1006 S Olympic Drive Gilbert, AZ 2
    • 4 beds 3 baths ∙ 2,268 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,268 Sqft ∙ Built 2017
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,099
    • $0.93
    •  
  • 967 S Brewer Drive Gilbert, AZ 3
    • 4 beds 4 baths ∙ 2,138 Sqft ∙ Built 2012 4 beds 4 baths ∙ 2,138 Sqft ∙ Built 2012
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.01
    •  
  • 879 S Swallow Lane Gilbert, AZ 5
    • 4 beds 3 baths ∙ 2,268 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,268 Sqft ∙ Built 2016
    LEASED 02/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.97
    •  
PROPERTY LISTING DETAILS
Mike Schude
Keller Williams Integrity First
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6202897
Last Updated: 03/05/2021
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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