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3182 S Corrine Court Gilbert, AZ 85295

5 Beds 3 Baths 3,621 sqft Built 2003

$579,000

List Price

$2,790

$2.5K - $3K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $159.90
  • 3 Days on Market
  • MLS # : 6181311
  • Updated Date : 01/16/2021 at 18:05
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,621 sqft
  • Baths : 3 full
Listing Agent

Re/max Fine Properties

Listing Agent's Description

Located in the gorgeous community of Vintage Ranch which offers grassy areas, playgrounds and walking/biking baths throughout the community. Home sits on a cul-de-sac lot. As you enter the home the wood to metal spindles of the staircase meet your eye. Full bedroom with exit to the rear patio is on the main floor plus a full bathroom. Kitchen features tons of cabinetry, gas cooktop, wall ovens, huge walk-in pantry, corian countertops, island with breakfast bar plus eat in kitchen that opens to the family room. Tons of natural lighting throughout this home! White plantation shutters & brushed nickel hardware t/o. The loft is a sizeable room and is adjacent to the 4 bedrooms (including the master suite). Dual doors open to the master suite with his/hers vanity & walk-in shower.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Vintage Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $122k574k

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

Neighborhood: Vintage Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $10362635

* 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
Quartz Hill Elementary School Primary Regular 711 38 9
Quartz Hill Elementary School Middle Regular 711 38 9
Campo Verde High School High Regular 2,094 86 8

Quartz Hill Elementary School

  • Education Level: Primary
  • # of students: 711
  • # of teachers: 38
9
GreatSchools Rating

Quartz Hill Elementary School

  • Education Level: Middle
  • # of students: 711
  • # of teachers: 38
9
GreatSchools Rating

Campo Verde High School

  • Education Level: High
  • # of students: 2,094
  • # of teachers: 86
8
GreatSchools Rating
 

$521,100$636,900$579,000

PURCHASE PRICE

$2,511$3,069$2,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,790
EXPENSES Loan Payment -$2,011
Property Tax -$354
Property Insurance -$98
HOA -$30
Property Management Fees -$99
CASH FLOW
$199

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.

$579,000

PROJECTED PRICE

$2,790

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.9%
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$1.8M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$159,185

INVESTMENT

$159,185

Down Payment
$144,750
Rehab Estimate
$5,750
Closing Costs
$8,685

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$2,011

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $144,750
Loan Amount $434,250
See What Happens When You Reinvest Cash Flow

7.17

YEARS SAVED

$50,894

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $2,779

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,5953$2,7504$2,8505$2,895
$2,895
RENT COMPS ANALYSIS
  • 3182 S Corrine Court Gilbert, AZ 1
    • 5 beds 3 baths ∙ 3,621 Sqft ∙ Built 2003 5 beds 3 baths ∙ 3,621 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 251 E Bernie Lane Gilbert, AZ 2
    • 4 beds 3 baths ∙ 3,593 Sqft ∙ Built 2000 4 beds 3 baths ∙ 3,593 Sqft ∙ Built 2000
    LEASED 11/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.72
    •  
  • 2076 S Porter Street Gilbert, AZ 3
    • 5 beds 3 baths ∙ 3,348 Sqft ∙ Built 1999 5 beds 3 baths ∙ 3,348 Sqft ∙ Built 1999
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.82
    •  
  • 3211 E Lark Drive Chandler, AZ 4
    • 5 beds 5 baths ∙ 3,914 Sqft ∙ Built 2003 5 beds 5 baths ∙ 3,914 Sqft ∙ Built 2003
    LEASED 12/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.73
    •  
  • 611 E Fairview Street Gilbert, AZ 5
    • 5 beds 3 baths ∙ 3,621 Sqft ∙ Built 2004 5 beds 3 baths ∙ 3,621 Sqft ∙ Built 2004
    LEASED 04/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,895
    • $0.80
    •  
PROPERTY LISTING DETAILS
Carolyn J Long
Re/max Fine Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6181311
Last Updated: 01/16/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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