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3001 E Comstock Drive Gilbert, AZ 85296

4 Beds 3 Baths 3,040 sqft Built 2005

$721,000

List Price

$2,580

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $237.17
  • 3 Days on Market
  • MLS # : 6191301
  • Updated Date : 02/13/2021 at 19:35
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,040 sqft
  • Baths : 3 full
Listing Agent

Caballero Realty

Listing Agent's Description

Beautiful home in the highly sought after Higley Estates. This home is 4 bedrooms, 3 baths, 3,040 Sq ft, the home sits on a 10,000 sq ft corner lot. Features a newly remodeled kitchen and updated flooring throughout. You will find plenty of counter space in the updated kitchen, kitchen looks out into a great room made for entertaining. The windows in the great room, fill the room with light. Backyard has a pool and lastly a 3 car garage. Tree lined streets and a green belt just across the way.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Higley Estates

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $122k593k

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

Neighborhood: Higley Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $10362942

* 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
Greenfield Junior High School Middle Regular 917 44 9
Highland High School High Regular 3,065 123 8
Greenfield Junior High School Middle Unknown NA

Greenfield Junior High School

  • Education Level: Middle
  • # of students: 917
  • # of teachers: 44
9
GreatSchools Rating

Highland High School

  • Education Level: High
  • # of students: 3,065
  • # of teachers: 123
8
GreatSchools Rating

Greenfield Junior High School

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

$648,900$793,100$721,000

PURCHASE PRICE

$2,322$2,838$2,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,580
EXPENSES Loan Payment -$2,504
Property Tax -$446
Property Insurance -$86
HOA -$37
Property Management Fees -$99
CASH FLOW
-$593

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.

$721,000

PROJECTED PRICE

$2,580

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.8%
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-$10k-$5.0k$0.0$5.0k$10k$15k

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$196,815

INVESTMENT

$196,815

Down Payment
$180,250
Rehab Estimate
$5,750
Closing Costs
$10,815

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,504

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $180,250
Loan Amount $540,750
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$5,186

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,580

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,417

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2953$2,3504$2,3995$2,580
$2,580
RENT COMPS ANALYSIS
  • 3001 E Comstock Drive Gilbert, AZ 5
    • 4 beds 3 baths ∙ 3,040 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,040 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,580
    • $0.85
    •  
  • 4131 E Cullumber Court Gilbert, AZ 1
    • 5 beds 3 baths ∙ 2,734 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,734 Sqft ∙ Built 2005
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.80
    •  
  • 3916 E Marlene Drive Gilbert, AZ 2
    • 4 beds 3 baths ∙ 3,111 Sqft ∙ Built 2009 4 beds 3 baths ∙ 3,111 Sqft ∙ Built 2009
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.74
    •  
  • 554 S Roanoke Street Gilbert, AZ 3
    • 4 beds 2 baths ∙ 2,943 Sqft ∙ Built 1999 4 beds 2 baths ∙ 2,943 Sqft ∙ Built 1999
    LEASED 10/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.80
    •  
  • 3117 E Sagebrush Street Gilbert, AZ 4
    • 4 beds 3 baths ∙ 2,872 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,872 Sqft ∙ Built 2017
    LEASED 10/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,399
    • $0.84
    •  
PROPERTY LISTING DETAILS
Mariel Leon
Caballero Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6191301
Last Updated: 02/13/2021
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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