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2989 E Aris Drive Gilbert, AZ 85298

4 Beds 3 Baths 1,974 sqft Built 2006

$375,000

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $189.97
  • 3 Days on Market
  • MLS # : 6163233
  • Updated Date : 11/20/2020 at 18:02
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,974 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty East Valley

Listing Agent's Description

Here is your opportunity to own a freshly painted home, inside and out, on the greenbelt in the lovely Shamrock Estates community. The master bedroom is on the ground level. Corian counters, breakfast bar, large loft with Pergo flooring, and so much more. The beautifully landscaped backyard features a sparkling pool, view fence, and a putting greenand a built in barbeque as well as a smoker. Walk to the A+ CTA Freedom Elementary School. One block from the neighborhood park. Close to the newly built Gilbert Regional Park

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Shamrock Estates

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $122k454k

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

Neighborhood: Shamrock Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10362178

* 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
Chandler Traditional Academy - Freedom Campus Primary Regular 839 38 9
Chandler Traditional Academy - Freedom Campus Middle Regular 839 38 9
Casteel High School High Regular NA

Chandler Traditional Academy - Freedom Campus

  • Education Level: Primary
  • # of students: 839
  • # of teachers: 38
9
GreatSchools Rating

Chandler Traditional Academy - Freedom Campus

  • Education Level: Middle
  • # of students: 839
  • # of teachers: 38
9
GreatSchools Rating

Casteel High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$337,500$412,500$375,000

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,384
Property Tax -$238
Property Insurance -$66
HOA -$21
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.

$375,000

PROJECTED PRICE

$1,790

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.7%
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

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$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,384

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$24,231

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
  • $1,969

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,8003$1,9954$2,0995$2,300
$2,300
RENT COMPS ANALYSIS
  • 2989 E Aris Drive Gilbert, AZ 1
    • 4 beds 3 baths ∙ 1,974 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,974 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 6335 S Shelby Way Gilbert, AZ 2
    • 4 beds 2 baths ∙ 1,932 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,932 Sqft ∙ Built 2004
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.93
    •  
  • 2744 E Lodgepole Drive Gilbert, AZ 3
    • 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 4
    • 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
    •  
  • 3265 E Myrtabel Way Gilbert, AZ 5
    • 3 beds 3 baths ∙ 2,079 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,079 Sqft ∙ Built 2013
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.11
    •  
PROPERTY LISTING DETAILS
Elaine M. Sans Souci
Keller Williams Realty East Valley
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6163233
Last Updated: 11/20/2020
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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