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2315 E Arabian Drive Gilbert, AZ 85296

4 Beds 2 Baths 1,659 sqft Built 1996

$374,900

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 31, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $225.98
  • 4 Days on Market
  • MLS # : 6171171
  • Updated Date : 01/01/2021 at 16:27
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,659 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Sonoran Living

Listing Agent's Description

Fully Owned Solar Panels! Beautiful Gilbert home available in highly sought after Finley Farms. Must see interior is sure to impress with a desirable open concept floor plan, perfect for gathering friends and family. Soaring vaulted ceilings, inviting custom paint tones and soft natural lighting throughout. Gorgeous wood look and tile flooring in all of the right places. Stylish island kitchen features granite counters and warm custom cabinetry. Spacious den with lots of possibilities. You will love the sun soaked Arizona room, a great spot to relax and enjoy a book or beverage. Master retreat includes a walk in closet with shelving and a full en-suite. Excellent outdoor entertaining space is complete with lots of patio seating room and a sparkling pool. This gem has it all. See it today!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Finley Farms South

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Finley Farms South

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9701981

* 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
Finley Farms Elementary School Primary Regular 760 41 8
Greenfield Junior High School Middle Regular 917 44 9
Gilbert High School High Regular 2,470 113 7

Finley Farms Elementary School

  • Education Level: Primary
  • # of students: 760
  • # of teachers: 41
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
 

$337,410$412,390$374,900

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$1,383
Property Tax -$220
Property Insurance -$60
HOA -$13
Property Management Fees -$99
CASH FLOW
-$145

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.

$374,900

PROJECTED PRICE

$1,630

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 7.1%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$105,099

INVESTMENT

$105,099

Down Payment
$93,725
Rehab Estimate
$5,750
Closing Costs
$5,624

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,383

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,725
Loan Amount $281,175
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$14,055

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
  • $1,647

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,5253$1,5954$1,6955$1,700
$1,700
RENT COMPS ANALYSIS
  • 2315 E Arabian Drive Gilbert, AZ 1
    • 3 beds 2 baths ∙ 1,659 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,659 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2150 E Arabian Drive Gilbert, AZ 2
    • 4 beds 3 baths ∙ 1,610 Sqft ∙ Built 1997 4 beds 3 baths ∙ 1,610 Sqft ∙ Built 1997
    LEASED 07/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.95
    •  
  • 1768 E Palomino Drive Gilbert, AZ 3
    • 3 beds 2 baths ∙ 1,629 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,629 Sqft ∙ Built 1995
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.98
    •  
  • 2253 E San Tan Drive Gilbert, AZ 4
    • 3 beds 2 baths ∙ 1,685 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,685 Sqft ∙ Built 1996
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.01
    •  
  • 2501 E Kent Avenue Gilbert, AZ 5
    • 3 beds 2 baths ∙ 1,654 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,654 Sqft ∙ Built 1997
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.03
    •  
PROPERTY LISTING DETAILS
Atif Musharbash
Keller Williams Realty Sonoran Living
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6171171
Last Updated: 01/01/2021
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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