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2353 S Penrose Drive Gilbert, AZ 85295

3 Beds 2 Baths 1,791 sqft Built 1999

$425,000

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $237.30
  • 2 Days on Market
  • MLS # : 6202791
  • Updated Date : 03/06/2021 at 02:53
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,791 sqft
  • Baths : 2 full
Listing Agent

Russ Lyon Sotheby's International Realty

Listing Agent's Description

Single level home by San Tan Mall! True 3 bedrooms PLUS Den , open Great Room floor plan with Gas Fireplace. Plantation Shutters! True 3 car front load garage with large backyard with two mature fruit trees. Community Pool too! HVAC TRANE replaced in 9/2020. Appliances have been replaced and all convey to Buyer if needed. Kitchen loaded with cabinets with two pantries. Master suite has dual sinks, walk in closet, walk in shower and separate soaker tub. Second full bath has remodeled Walk in shower. Newer double french doors with interior blinds in glass open to large backyard with covered patio and electric awning. Community Pool and Spa, Basketball court and playgrounds. Gilbert shopping,dining is hard to beat here!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Gateway Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $122k374k

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

Neighborhood: Gateway Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10361981

* 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
Cooley Middle School Middle Unknown 915 39 NA
Williams Field High School High Regular 1,705 64 7

Cooley Middle School

  • Education Level: Middle
  • # of students: 915
  • # of teachers: 39
NA
GreatSchools Rating

Williams Field High School

  • Education Level: High
  • # of students: 1,705
  • # of teachers: 64
7
GreatSchools Rating
 

$382,500$467,500$425,000

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$1,476
Property Tax -$290
Property Insurance -$62
HOA -$19
Property Management Fees -$99
CASH FLOW
-$17

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.

$425,000

PROJECTED PRICE

$1,930

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 7.7%
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

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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$22,342

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,930

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $1,939

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,790
1$1,7902$1,8003$1,8954$1,9005$1,930
$1,930
RENT COMPS ANALYSIS
  • 2353 S Penrose Drive Gilbert, AZ 5
    • 3 beds 2 baths ∙ 1,791 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,791 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $1.08
    •  
  • 2551 E Boston Street Gilbert, AZ 1
    • 3 beds 3 baths ∙ 1,692 Sqft ∙ Built 2011 3 beds 3 baths ∙ 1,692 Sqft ∙ Built 2011
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $1.06
    •  
  • 2462 E Boston Street Gilbert, AZ 2
    • 3 beds 3 baths ∙ 1,684 Sqft ∙ Built 2010 3 beds 3 baths ∙ 1,684 Sqft ∙ Built 2010
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.07
    •  
  • 2528 E Boston Street Gilbert, AZ 3
    • 3 beds 3 baths ∙ 1,720 Sqft ∙ Built 2012 3 beds 3 baths ∙ 1,720 Sqft ∙ Built 2012
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.10
    •  
  • 2568 E Boston Street Gilbert, AZ 4
    • 3 beds 3 baths ∙ 1,720 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,720 Sqft ∙ Built 2013
    LEASED 08/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.10
    •  
PROPERTY LISTING DETAILS
Cynthia Ann Dewine
Russ Lyon Sotheby's International Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6202791
Last Updated: 03/06/2021
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. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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