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960 E Saratoga Street Gilbert, AZ 85296

4 Beds 2 Baths 1,656 sqft Built 2001

$365,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $220.41
  • 4 Days on Market
  • MLS # : 6152175
  • Updated Date : 11/19/2020 at 12:42
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,656 sqft
  • Baths : 2 full
Listing Agent

Stunning Homes Realty

Listing Agent's Description

BEST 4 BEDROOM DEAL IN GILBERT!!!This recently updated 4 bed 2 bath 1,656 sf home is nestled in the beautiful Mirador Estates in central Gilbert. Spacious living/ great room and kitchen. Open living room floorplan has been updated with new fixtures, new carpet, new paint and has a newer HVAC! The kitchen features new countertops, newer appliances, kitchen island and walk-in pantry. Low maintenance landscaping and a backyard with ample potential. No neighbors directly behind you! Minutes from Downtown Gilbert, close to plenty of eateries, parks, shopping and more!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Mirador Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Mirador Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9261981

* 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
Greenfield Junior High School Middle Regular 917 44 9
Gilbert High School High Regular 2,470 113 7

Mesquite Elementary School

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

Greenfield Junior High School

  • Education Level: Middle
  • # of students: 917
  • # of teachers: 44
9
GreatSchools Rating

Gilbert High School

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

$328,500$401,500$365,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$1,347
Property Tax -$215
Property Insurance -$59
HOA -$15
Property Management Fees -$99
CASH FLOW
-$95

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.

$365,000

PROJECTED PRICE

$1,640

PROJECTED RENT

0.45%

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

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$102,475

INVESTMENT

$102,475

Down Payment
$91,250
Rehab Estimate
$5,750
Closing Costs
$5,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,347

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $91,250
Loan Amount $273,750
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$17,198

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,726

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,6493$1,7004$1,7955$1,900
$1,900
RENT COMPS ANALYSIS
  • 960 E Saratoga Street Gilbert, AZ 1
    • 4 beds 2 baths ∙ 1,656 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,656 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 513 E Cathy Drive Gilbert, AZ 2
    • 3 beds 2 baths ∙ 1,655 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,655 Sqft ∙ Built 1998
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,649
    • $1.00
    •  
  • 1116 E San Tan Drive Gilbert, AZ 3
    • 3 beds 2 baths ∙ 1,683 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,683 Sqft ∙ Built 2000
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.01
    •  
  • 940 S Silverado Street Gilbert, AZ 4
    • 3 beds 2 baths ∙ 1,655 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,655 Sqft ∙ Built 1998
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.08
    •  
  • 654 S Concord Street Gilbert, AZ 5
    • 4 beds 2 baths ∙ 1,762 Sqft ∙ Built 2000 4 beds 2 baths ∙ 1,762 Sqft ∙ Built 2000
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.08
    •  
PROPERTY LISTING DETAILS
William R Nager
Stunning Homes Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6152175
Last Updated: 11/19/2020
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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