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3048 E Appaloosa Road Gilbert, AZ 85296

4 Beds 3 Baths 2,495 sqft Built 2016

$569,000

List Price

$2,060

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $228.06
  • 4 Days on Market
  • MLS # : 6187666
  • Updated Date : 02/18/2021 at 21:54
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,495 sqft
  • Baths : 3 full
Listing Agent

West Usa Realty

Listing Agent's Description

Beautiful Fulton home in great Gilbert neighborhood, Morrison Ranch. Home offers 4 bedrooms and a den/study and many upgrades including RO system, soft water system, and smart home technology. 3 car tandem garage that has epoxy coating. Bottom level has a full bedroom and full bath, den/study, and a great room floorplan with tray ceiling. Gourmet Kitchen with upgraded cabinets and white quartz countertops. Upstairs has a spacious loft and 3 bedrooms including the master. Master bath has a large spa shower with 2 shower heads. Backyard offers a salt water swimming pool with tons of upgrades including a built in floor cleaner. Pump, lights, and schedules can easily be controlled via phone app. Back porch has epoxy as well but with a non-slip surface. Don't wait too long on this one.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Gilbert

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

* 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

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
 

$512,100$625,900$569,000

PURCHASE PRICE

$1,854$2,266$2,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,060
EXPENSES Loan Payment -$1,976
Property Tax -$352
Property Insurance -$76
HOA -$37
Property Management Fees -$99
CASH FLOW
-$480

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.

$569,000

PROJECTED PRICE

$2,060

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$156,535

INVESTMENT

$156,535

Down Payment
$142,250
Rehab Estimate
$5,750
Closing Costs
$8,535

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,976

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $142,250
Loan Amount $426,750
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$3,814

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,060

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,121

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$2,0003$2,0604$2,1005$2,100
$2,100
RENT COMPS ANALYSIS
  • 3048 E Appaloosa Road Gilbert, AZ 3
    • 4 beds 3 baths ∙ 2,495 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,495 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,060
    • $0.83
    •  
  • 2961 E Brooks Street Gilbert, AZ 1
    • 3 beds 2 baths ∙ 2,361 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,361 Sqft ∙ Built 1999
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.80
    •  
  • 3388 E Jasper Drive Gilbert, AZ 2
    • 4 beds 4 baths ∙ 2,487 Sqft ∙ Built 2006 4 beds 4 baths ∙ 2,487 Sqft ∙ Built 2006
    LEASED 11/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.80
    •  
  • 915 S Agnes Lane Gilbert, AZ 4
    • 3 beds 3 baths ∙ 2,323 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,323 Sqft ∙ Built 2014
    LEASED 04/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.90
    •  
  • 895 S Annie Lane Gilbert, AZ 5
    • 4 beds 3 baths ∙ 2,323 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,323 Sqft ∙ Built 2013
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.90
    •  
PROPERTY LISTING DETAILS
Ryan Roggensee
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6187666
Last Updated: 02/18/2021
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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