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3064 E Arabian Drive Gilbert, AZ 85296

4 Beds 3 Baths 2,159 sqft Built 2017

$589,000

List Price

$1,820

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $272.81
  • 4 Days on Market
  • MLS # : 6194406
  • Updated Date : 02/19/2021 at 23:56
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,159 sqft
  • Baths : 3 full
Listing Agent

Redeemed Real Estate

Listing Agent's Description

This is the Warner Groves property you've been waiting for! Tastefully decorated 4 bdr 3 FULL BATH Fulton Model with the greenbelt as your neighbor! No two stories around! Front room and full bath can serve as ''suite'', separate from rest of the home. Home features 10' ceilings, wide textured wood plank tile, custom backsplash and stone countertops, upgraded appliances, shiplap and more! HUGE master closet. Backyard is a 4 SEASON OASIS with custom modern pool with water features, travertine deck, GAS FIREPIT and built in BBQ, mature trees, and 2 large side yards with artificial turf.

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
 

$530,100$647,900$589,000

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$2,046
Property Tax -$365
Property Insurance -$69
HOA -$37
Property Management Fees -$99
CASH FLOW
-$796

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.

$589,000

PROJECTED PRICE

$1,820

PROJECTED RENT

0.31%

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-$15k-$10k-$5.0k$0.0$5.0k

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$161,835

INVESTMENT

$161,835

Down Payment
$147,250
Rehab Estimate
$5,750
Closing Costs
$8,835

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,046

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $147,250
Loan Amount $441,750
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$104

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,820

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,749

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5953$1,6754$1,7955$1,820
$1,820
RENT COMPS ANALYSIS
  • 3064 E Arabian Drive Gilbert, AZ 5
    • 4 beds 3 baths ∙ 2,159 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,159 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.84
    •  
  • 3650 E Leslie Drive Gilbert, AZ 1
    • 3 beds 3 baths ∙ 2,035 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,035 Sqft ∙ Built 2007
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.73
    •  
  • 3651 E Leslie Drive Gilbert, AZ 2
    • 3 beds 3 baths ∙ 2,035 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,035 Sqft ∙ Built 2007
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.78
    •  
  • 929 S Storment Lane Gilbert, AZ 3
    • 3 beds 3 baths ∙ 2,035 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,035 Sqft ∙ Built 2007
    LEASED 04/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.82
    •  
  • 954 S Parkcrest Street Gilbert, AZ 4
    • 3 beds 2 baths ∙ 1,967 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,967 Sqft ∙ Built 2000
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.91
    •  
PROPERTY LISTING DETAILS
Chris Lundberg
Redeemed Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6194406
Last Updated: 02/19/2021
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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