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2437 E Aris Drive Gilbert, AZ 85298

4 Beds 3 Baths 2,432 sqft Built 2012

$535,000

List Price

$2,290

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $219.98
  • 4 Days on Market
  • MLS # : 6186277
  • Updated Date : 01/29/2021 at 17:57
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,432 sqft
  • Baths : 2 full , 1 half
Listing Agent

Newman Realty, Llc

Listing Agent's Description

Stunning, move in ready home in Freeman Farms now for Sale! This gently used 4 bedroom, 2.5 bath single family home features a nice open great room concept floorplan. Gourmet kitchen with tons of counter space, kitchen island, gas cooktop and walk in pantry. Formal dining off great room and open spacious nook. Master bedroom has full tub and shower and double sinks ahead of the large walk in closet. Backyard designed for entertaining with beautiful pool and outdoor built in gas fed grill and gas fed firepit. Check this one out today before it's gone!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Gilbert

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $122k403k

* 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

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$481,500$588,500$535,000

PURCHASE PRICE

$2,061$2,519$2,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,290
EXPENSES Loan Payment -$1,858
Property Tax -$374
Property Insurance -$75
HOA -$29
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.

$535,000

PROJECTED PRICE

$2,290

PROJECTED RENT

0.43%

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$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$147,525

INVESTMENT

$147,525

Down Payment
$133,750
Rehab Estimate
$5,750
Closing Costs
$8,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,858

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $133,750
Loan Amount $401,250
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$18,584

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
  • $2,396

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,9953$2,0994$2,2505$2,800
$2,800
RENT COMPS ANALYSIS
  • 2437 E Aris Drive Gilbert, AZ 1
    • 4 beds 3 baths ∙ 2,432 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,432 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2744 E Lodgepole Drive Gilbert, AZ 2
    • 4 beds 2 baths ∙ 2,109 Sqft ∙ Built 2009 4 beds 2 baths ∙ 2,109 Sqft ∙ Built 2009
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.95
    •  
  • 2587 E Tiffany Way Gilbert, AZ 3
    • 4 beds 2 baths ∙ 2,109 Sqft ∙ Built 2013 4 beds 2 baths ∙ 2,109 Sqft ∙ Built 2013
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,099
    • $1.00
    •  
  • 2557 E Orleans Drive Gilbert, AZ 4
    • 4 beds 3 baths ∙ 2,339 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,339 Sqft ∙ Built 2013
    LEASED 01/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.96
    •  
  • 2497 E Aris Drive Gilbert, AZ 5
    • 4 beds 3 baths ∙ 2,708 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,708 Sqft ∙ Built 2012
    LEASED 08/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.03
    •  
PROPERTY LISTING DETAILS
Mark Newman
Newman Realty, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6186277
Last Updated: 01/29/2021
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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