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92 E Frances Lane Gilbert, AZ 85295

4 Beds 2 Baths 2,389 sqft Built 2000

$515,000

List Price

$1,990

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2000
  • Price/Sqft : $215.57
  • 5 Days on Market
  • MLS # : 6154116
  • Updated Date : 10/30/2020 at 20:11
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,389 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Integrity First

Listing Agent's Description

Absolutely GORGEOUS large single level home in the BEAUTIFUL community of Allen Ranch! This magnificent home features 4 large bedrooms, 2 bathrooms, 3-car garage, RV gate, sparkling HEATED pool with rock waterfall and slide all on a HUGE corner lot! The owners have meticulously maintained this highly upgraded home with diagonally laid tile in all of the living spaces, built-in wine bar with lots of cabinets, granite countertops, travertine backsplash, built-in wine refrigerator and beverage cooler. The kitchen is FANTASTIC! It is HUGE and has such great space for entertaining! You will love all of the granite counter space, large kitchen island with room for bar stools, TONS of cabinets space, large pantry, stainless steel appliances including a gas cooktop and French door

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Allen Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $122k527k

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

Neighborhood: Allen Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100220023002400Rent in $10362437

* 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
Quartz Hill Elementary School Primary Regular 711 38 9
Quartz Hill Elementary School Middle Regular 711 38 9
Campo Verde High School High Regular 2,094 86 8

Quartz Hill Elementary School

  • Education Level: Primary
  • # of students: 711
  • # of teachers: 38
9
GreatSchools Rating

Quartz Hill Elementary School

  • Education Level: Middle
  • # of students: 711
  • # of teachers: 38
9
GreatSchools Rating

Campo Verde High School

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

$463,500$566,500$515,000

PURCHASE PRICE

$1,791$2,189$1,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,990
EXPENSES Loan Payment -$1,900
Property Tax -$303
Property Insurance -$74
HOA -$96
Property Management Fees -$99
CASH FLOW
-$482

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.

$515,000

PROJECTED PRICE

$1,990

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 2.3%
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-$10k-$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$142,225

INVESTMENT

$142,225

Down Payment
$128,750
Rehab Estimate
$5,750
Closing Costs
$7,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,900

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $128,750
Loan Amount $386,250
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$3,493

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,990

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,019

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9003$1,9504$1,9905$2,300
$2,300
RENT COMPS ANALYSIS
  • 92 E Frances Lane Gilbert, AZ 4
    • 4 beds 2 baths ∙ 2,389 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,389 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.83
    •  
  • 2720 E Chester Drive Chandler, AZ 1
    • 3 beds 3 baths ∙ 2,434 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,434 Sqft ∙ Built 2005
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.78
    •  
  • 2482 E Kesler Lane Chandler, AZ 2
    • 3 beds 2 baths ∙ 2,288 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,288 Sqft ∙ Built 2000
    LEASED 08/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.83
    •  
  • 33 E Elgin Street Gilbert, AZ 3
    • 4 beds 2 baths ∙ 2,210 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,210 Sqft ∙ Built 2002
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.88
    •  
  • 2586 E Remington Place Chandler, AZ 5
    • 4 beds 3 baths ∙ 2,575 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,575 Sqft ∙ Built 2005
    LEASED 10/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.89
    •  
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 #: 6154116
Last Updated: 10/30/2020
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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