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907 E San Remo Avenue Gilbert, AZ 85234

3 Beds 3 Baths 2,627 sqft Built 1991

$459,900

List Price

$2,340

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

December 02, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $175.07
  • 5 Days on Market
  • MLS # : 6166235
  • Updated Date : 12/05/2020 at 10:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,627 sqft
  • Baths : 2 full , 1 half
Listing Agent

Redfin Corporation

Listing Agent's Description

Charming all brick home located in the ''Heart of Gilbert''. Home offers 3 bedrooms & 2.5 baths. You will love the open floor concept. Brick fireplaces in both the great room & Master. 18X18 tile with custom accents throughout!! Kitchen boasts SS appliances, large island, recessed lighting & granite counters. Master bedroom has a huge walk-in closet w' floor safe. Master bath suite included dual sinks, separate tub/shower. Plantation shutters throughout really add a modern look. Backyard is a true oasis featuring a large covered patio, sparkling blue pool and professionally landscaped. Perfect location!! Close to the best restaurants in downtown Gilbert, freeways. A+ Gilbert schools!!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Meadows East

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $122k372k

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

Neighborhood: Meadows East

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10292046

* 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
Houston Elementary School Primary Regular 482 39 6
Mesquite Jr High School Middle Regular 715 34 7
Gilbert High School High Regular 2,470 113 7

Houston Elementary School

  • Education Level: Primary
  • # of students: 482
  • # of teachers: 39
6
GreatSchools Rating

Mesquite Jr High School

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

Gilbert High School

  • Education Level: High
  • # of students: 2,470
  • # of teachers: 113
7
GreatSchools Rating
 

$413,910$505,890$459,900

PURCHASE PRICE

$2,106$2,574$2,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,340
EXPENSES Loan Payment -$1,697
Property Tax -$345
Property Insurance -$78
Property Management Fees -$99
CASH FLOW
$121

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.

$459,900

PROJECTED PRICE

$2,340

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.1%
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$0.0$5.0k$10k$15k$20k$25k

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$127,624

INVESTMENT

$127,624

Down Payment
$114,975
Rehab Estimate
$5,750
Closing Costs
$6,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,697

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $114,975
Loan Amount $344,925
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$43,521

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,340

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,620

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$2,295
1$2,2952$2,3403$2,3504$2,3505$2,800
$2,800
RENT COMPS ANALYSIS
  • 907 E San Remo Avenue Gilbert, AZ 2
    • 3 beds 3 baths ∙ 2,627 Sqft ∙ Built 1991 3 beds 3 baths ∙ 2,627 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $2,340
    • $0.89
    •  
  • 361 E Aspen Way Gilbert, AZ 1
    • 4 beds 3 baths ∙ 2,302 Sqft ∙ Built 1984 4 beds 3 baths ∙ 2,302 Sqft ∙ Built 1984
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.00
    •  
  • 320 N Corrine Drive Gilbert, AZ 3
    • 4 beds 2 baths ∙ 2,357 Sqft ∙ Built 1989 4 beds 2 baths ∙ 2,357 Sqft ∙ Built 1989
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.00
    •  
  • 1419 E Encinas Avenue Gilbert, AZ 4
    • 4 beds 3 baths ∙ 2,370 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,370 Sqft ∙ Built 1992
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.99
    •  
  • 1326 E Catamaran Drive Gilbert, AZ 5
    • 4 beds 3 baths ∙ 2,788 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,788 Sqft ∙ Built 2005
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.00
    •  
PROPERTY LISTING DETAILS
Gina Mcmullen
Redfin Corporation
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6166235
Last Updated: 12/05/2020
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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