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890 S Almira Avenue Gilbert, AZ 85296

4 Beds 3 Baths 2,375 sqft Built 2013

$390,000

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $164.21
  • 5 Days on Market
  • MLS # : 6180319
  • Updated Date : 01/13/2021 at 17:45
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,375 sqft
  • Baths : 2 full , 1 half
Listing Agent

Offerpad

Listing Agent's Description

Don't miss this two story home in Cooley Station North! NEW A/C! This home has been refreshed with new interior paint and new carpet. High ceilings and lots of natural light throughout. Living and dining rooms off the entry and a home office at the back of the home. The kitchen features granite countertops and stainless steel appliances. One bathroom on the main floor, great for guests. All bedrooms, two full bathrooms, the laundry room, and a large loft are located on the second floor. The primary bedroom has an ensuite bathroom with dual sinks, separate shower and tub, and a walk in closet. Community amenities include playgrounds, walking paths, and a pool Vacant and ready for viewing, come see!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Cooley Station North

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Cooley Station North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9611981

* 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
Gateway Pointe Elementary School Primary Regular 755 36 7
Gateway Pointe Elementary School Middle Regular 755 36 7
Williams Field High School High Regular 1,705 64 7

Gateway Pointe Elementary School

  • Education Level: Primary
  • # of students: 755
  • # of teachers: 36
7
GreatSchools Rating

Gateway Pointe Elementary School

  • Education Level: Middle
  • # of students: 755
  • # of teachers: 36
7
GreatSchools Rating

Williams Field High School

  • Education Level: High
  • # of students: 1,705
  • # of teachers: 64
7
GreatSchools Rating
 

$351,000$429,000$390,000

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,355
Property Tax -$266
Property Insurance -$73
HOA -$145
Property Management Fees -$99
CASH FLOW
$62

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.

$390,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.4%
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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$109,100

INVESTMENT

$109,100

Down Payment
$97,500
Rehab Estimate
$5,750
Closing Costs
$5,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,355

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $97,500
Loan Amount $292,500
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$24,966

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,995

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9753$2,0004$2,0005$2,100
$2,100
RENT COMPS ANALYSIS
  • 890 S Almira Avenue Gilbert, AZ 4
    • 4 beds 3 baths ∙ 2,375 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,375 Sqft ∙ Built 2013
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.84
    •  
  • 857 S Adam Way Gilbert, AZ 1
    • 4 beds 3 baths ∙ 2,467 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,467 Sqft ∙ Built 2006
    property image
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.75
    •  
  • 984 S Olympic Drive Gilbert, AZ 2
    • 4 beds 3 baths ∙ 2,268 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,268 Sqft ∙ Built 2017
    property image
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.87
    •  
  • 949 S Wallrade Lane Gilbert, AZ 3
    • 4 beds 3 baths ∙ 2,375 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,375 Sqft ∙ Built 2012
    property image
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.84
    •  
  • 895 S Annie Lane Gilbert, AZ 5
    • 4 beds 3 baths ∙ 2,323 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,323 Sqft ∙ Built 2013
    property image
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.90
    •  
PROPERTY LISTING DETAILS
Derek Dickson
Offerpad
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6180319
Last Updated: 01/13/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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