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3104 E Isaiah Avenue Gilbert, AZ 85298

4 Beds 4 Baths 2,968 sqft Built 2007

$575,000

List Price

$2,330

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $193.73
  • 4 Days on Market
  • MLS # : 6162406
  • Updated Date : 11/21/2020 at 15:47
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,968 sqft
  • Baths : 3 full , 1 half
Listing Agent

Re/max Alliance Group

Listing Agent's Description

Absolutely one of the best backyards you will find! Huge , private resort style backyard offers heated pool with automatic cover, spa, putting green and lots of outdoor living space. Lots of room between neighboring homes. Super floorplan with oversized master suite ! 2 guestrooms share a Jack and Jill bath. Additional 3rd guestroom. full bath and half bath. Greatroom has cozy gas fireplace. Kitchen is open to dine in area and greatroom. Formal dining option staged as a pool table room. Great office space and extra bonus room can be flexible space. Plantation shutters throughout. Laundry is convenient right off the kitchen. Lots of storage with multiple closets. 3 car tandem garage is extended for large vehicles. Lightly lived in second home !

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Seville

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $122k388k

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

Neighborhood: Seville

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10362109

* 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
Patterson Elementary School Primary Regular 959 49 9
Patterson Elementary School Middle Regular 959 49 9
Basha High School High Regular 2,646 125 8

Patterson Elementary School

  • Education Level: Primary
  • # of students: 959
  • # of teachers: 49
9
GreatSchools Rating

Patterson Elementary School

  • Education Level: Middle
  • # of students: 959
  • # of teachers: 49
9
GreatSchools Rating

Basha High School

  • Education Level: High
  • # of students: 2,646
  • # of teachers: 125
8
GreatSchools Rating
 

$517,500$632,500$575,000

PURCHASE PRICE

$2,097$2,563$2,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,330
EXPENSES Loan Payment -$2,122
Property Tax -$401
Property Insurance -$85
HOA -$12
Property Management Fees -$99
CASH FLOW
-$389

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.

$575,000

PROJECTED PRICE

$2,330

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.2%
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$15k

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$158,125

INVESTMENT

$158,125

Down Payment
$143,750
Rehab Estimate
$5,750
Closing Costs
$8,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,122

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $143,750
Loan Amount $431,250
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$9,939

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,330

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,486

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3303$2,3954$2,3955$2,595
$2,595
RENT COMPS ANALYSIS
  • 3104 E Isaiah Avenue Gilbert, AZ 2
    • 4 beds 4 baths ∙ 2,968 Sqft ∙ Built 2007 4 beds 4 baths ∙ 2,968 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $2,330
    • $0.79
    •  
  • 6758 S Rachael Way Gilbert, AZ 1
    • 3 beds 3 baths ∙ 2,750 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,750 Sqft ∙ Built 2007
    LEASED 09/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.84
    •  
  • 2903 E Janelle Way Gilbert, AZ 3
    • 4 beds 4 baths ∙ 3,162 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,162 Sqft ∙ Built 2006
    LEASED 06/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.76
    •  
  • 2900 E Killarney Street Gilbert, AZ 4
    • 3 beds 3 baths ∙ 2,675 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,675 Sqft ∙ Built 2016
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.90
    •  
  • 3160 E Muirfield Street Gilbert, AZ 5
    • 4 beds 4 baths ∙ 3,060 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,060 Sqft ∙ Built 2004
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.85
    •  
PROPERTY LISTING DETAILS
Sarah Anderson
Re/max Alliance Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6162406
Last Updated: 11/21/2020
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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