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3178 E Merlot Street 
Gilbert, AZ
85298
3 Beds 2 Baths 1,815 sqft
Built 2004
INVESTimate
$350,000
List Price
$98,500
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PROPERTY INFO
FACTS
- Built In 2004
- Price/Sqft : $192.84
- 2 Days on Market
- MLS # : 6121649
- Updated Date : 08/25/2020 at 22:29
CONSTRUCTION
- Beds : 3
- Floor Size : 1,815 sqft
- Baths : 2 full
Listing Agent
Prosmart Realty
Listing Agent's Description
Gorgeous 3 bedroom 2 bath home, with a den! This home features a private one of a kind gated courtyard for extra outdoor living. Spacious open floor plan with large living room. Eat-in kitchen offers a breakfast bar, kitchen island, gas stove, stainless steel appliances with a pantry! Additional den is great for a play room or home office. Large master bedroom and master bath includes double sinks, separate shower /tub, and a walk-in closet. Two more spacious bedrooms and guest bath. Plantation shutters throughout, pergo and tile flooring throughout, no carpet. Enjoy the beautiful private backyard with synthetic grass lawn and covered patio. 2 car garage .Many custom features. Makes sure to see the 3D virtual tour.
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PRICE & RENT TRENDS
Neighborhood: Country Shadows
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Country Shadows
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,720 |
| EXPENSES | Loan Payment | -$1,291 |
| Property Tax | -$222 | |
| Property Insurance | -$63 | |
| HOA | -$70 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$25
|
||
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.
$350,000
PROJECTED PRICE
$1,720
PROJECTED RENT
0.49%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.17% |
| Appreciation Year (1-5) | 3.97% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.60% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$98,500
LOAN DETAILS
$1,291
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $87,500 |
| Loan Amount | $262,500 |
5
YEARS SAVED
$21,111
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,720
LIST RENT -
$0.95
LIST RENT PER SQFT
-
$1,842
COMP ESTIMATED VALUE -
$1.02
COMP AVG. RENT PER SQFT
Comps Range
-
3178 E Merlot Street Gilbert, 3
- 3 beds 2 baths ∙ 1,815 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,815 Sqft ∙ Built 2004
- Rent
- Rent Per SQFT
- $1,720
- $0.95
-
3540 E Pinot Noir Avenue Gilbert, 1
- 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 2008
LEASED 12/07/19- Rent
- Rent Per SQFT
- $1,675
- $0.96
-
3352 E Lafayette Avenue Gilbert, 2
- 3 beds 2 baths ∙ 1,664 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,664 Sqft ∙ Built 2005
LEASED 10/06/19- Rent
- Rent Per SQFT
- $1,700
- $1.02
-
3068 E Ravenswood Drive Gilbert, 4
- 4 beds 2 baths ∙ 1,815 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,815 Sqft ∙ Built 2004
LEASED 07/15/20- Rent
- Rent Per SQFT
- $1,800
- $0.99
-
3519 E Pinot Noir Avenue Gilbert, 5
- 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 2008
LEASED 04/04/20- Rent
- Rent Per SQFT
- $1,900
- $1.09
PROPERTY LISTING DETAILS
Prosmart Realty
1.866.250.5610
Mynd Property Management
LC664597000
MLS #: 6121649
Last Updated: 08/25/2020
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.
