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2974 E Athena Avenue Gilbert, AZ 85297

4 Beds 5 Baths 4,042 sqft Built 2014

$950,000

List Price

$3,100

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $235.03
  • 2 Days on Market
  • MLS # : 6206817
  • Updated Date : 03/13/2021 at 05:11
CONSTRUCTION
  • Beds : 4
  • Floor Size : 4,042 sqft
  • Baths : 4 full , 1 half
Listing Agent

Homesmart

Listing Agent's Description

Fantastic opportunity in highly sought after Stratland Shadows.Open,spacious floorplan with formal living/dining,butler's pantry,eat-in kitchen with an island breakfast bar,stainless appliances,double ovens,gas cook top,built in microwave,walk-in pantry,soft close cabinetry and granite counters.Teen/family room adjacent to 3 bedrooms each with an ensuite bath and walk-in closet.Split owner's suite with soaking tub and massive shower,walk-in closet.Separate office.Plantation shutters,custom tile and stone work, commercial grade porcelain tile,LED fixtures throughout.NEST thermostats.Oversize lot,heated play pool and gazebo,lush landscaping,mountain views from courtyard and from back patio.Custom metal entry gate. Epoxy garage floors. Upgrades everywhere! Must see to appreciate

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Stratland Shadows

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $122k586k

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

Neighborhood: Stratland Shadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $10363326

* 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
 

$855,000$1,045,000$950,000

PURCHASE PRICE

$2,790$3,410$3,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,100
EXPENSES Loan Payment -$3,300
Property Tax -$649
Property Insurance -$106
HOA -$110
Property Management Fees -$99
CASH FLOW
-$1,163

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.

$950,000

PROJECTED PRICE

$3,100

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 0.8%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$257,500

INVESTMENT

$257,500

Down Payment
$237,500
Rehab Estimate
$5,750
Closing Costs
$14,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$3,300

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $237,500
Loan Amount $712,500
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$378

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
  • $2,695

    COMP ESTIMATED VALUE
  • $0.67

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,4953$2,6954$2,750
$2,750
RENT COMPS ANALYSIS
  • 2974 E Athena Avenue Gilbert, AZ 1
    • 4 beds 5 baths ∙ 4,042 Sqft ∙ Built 2014 4 beds 5 baths ∙ 4,042 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3301 S Martingale Road Gilbert, AZ 2
    • 5 beds 3 baths ∙ 3,894 Sqft ∙ Built 2001 5 beds 3 baths ∙ 3,894 Sqft ∙ Built 2001
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.64
    •  
  • 3723 E Latham Court Gilbert, AZ 3
    • 5 beds 3 baths ∙ 3,800 Sqft ∙ Built 2002 5 beds 3 baths ∙ 3,800 Sqft ∙ Built 2002
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.71
    •  
  • 4178 E Maplewood Street Gilbert, AZ 4
    • 5 beds 3 baths ∙ 4,250 Sqft ∙ Built 2005 5 beds 3 baths ∙ 4,250 Sqft ∙ Built 2005
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.65
    •  
PROPERTY LISTING DETAILS
Krystn Dale
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6206817
Last Updated: 03/13/2021
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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