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928 E Redondo Drive Gilbert, AZ 85296

3 Beds 2 Baths 1,450 sqft Built 2004

$350,000

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $241.38
  • 3 Days on Market
  • MLS # : 6157399
  • Updated Date : 11/06/2020 at 17:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,450 sqft
  • Baths : 2 full
Listing Agent

West Usa Realty

Listing Agent's Description

Move in ready immaculate home! Low maintenance with automatic drip system and desert landscaping. This home has a very functional floorplan with tile in all the right places. The brand new quartz in the kitchen is pristine, perfect for the home chef. R/O Loop and indoor laundry room. Master closet is huge! This home is a must see!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Gilbert

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Gilbert

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10361987

* 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 Elementary School Primary Regular 612 34 8
South Valley Jr. High School Middle Regular 1,193 53 9
Campo Verde High School High Regular 2,094 86 8

Mesquite Elementary School

  • Education Level: Primary
  • # of students: 612
  • # of teachers: 34
8
GreatSchools Rating

South Valley Jr. High School

  • Education Level: Middle
  • # of students: 1,193
  • # of teachers: 53
9
GreatSchools Rating

Campo Verde High School

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

$315,000$385,000$350,000

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$1,291
Property Tax -$206
Property Insurance -$55
HOA -$36
Property Management Fees -$99
CASH FLOW
-$138

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.

$350,000

PROJECTED PRICE

$1,550

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.0%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$12,728

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $1,544

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,425
1$1,4252$1,4903$1,5504$1,5955$1,695
$1,695
RENT COMPS ANALYSIS
  • 928 E Redondo Drive Gilbert, AZ 3
    • 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.07
    •  
  • 700 S Colonial Street Gilbert, AZ 1
    • 3 beds 2 baths ∙ 1,393 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,393 Sqft ∙ Built 2000
    property image
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $1.02
    •  
  • 869 S Honeysuckle Lane Gilbert, AZ 2
    • 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1998
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $1.10
    •  
  • 748 E Redondo Drive Gilbert, AZ 4
    • 3 beds 2 baths ∙ 1,538 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,538 Sqft ∙ Built 1998
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.04
    •  
  • 1017 E Pinto Court Gilbert, AZ 5
    • 3 beds 2 baths ∙ 1,544 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,544 Sqft ∙ Built 2001
    property image
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.10
    •  
PROPERTY LISTING DETAILS
Joseph D. Rickert
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6157399
Last Updated: 11/06/2020
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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