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3290 E Aris Drive Gilbert, AZ 85298

5 Beds 5 Baths 4,120 sqft Built 2007

$549,000

List Price

$2,640

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $133.25
  • 3 Days on Market
  • MLS # : 6160236
  • Updated Date : 11/13/2020 at 19:06
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,120 sqft
  • Baths : 4 full , 1 half
Listing Agent

Mountain Lake Realty

Listing Agent's Description

A Huge (4200sgft) 5-bedroom, 5 bath, house backing greenbelt. The House is only 8 years old and has over $100K in upgrades. It is in a Master planned community (Mirabella Vineyards). It has a private backyard. Private Mother in law room with its own bathroom. Beautiful 24 inch tile in Kitchen and Bathrooms. Front courtyard. Stainless steel appliances, granite Kitchen counters and more. Schools: Elementary: Weinberg Middle School: Payne High school: Basha

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Marbella Vineyards

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $122k416k

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

Neighborhood: Marbella Vineyards

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10362270

* 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
Auxier Elementary School Primary Regular NA
Casteel High School Middle Regular NA
Casteel High School High Regular NA

Auxier Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Casteel High School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Casteel High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$494,100$603,900$549,000

PURCHASE PRICE

$2,376$2,904$2,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,640
EXPENSES Loan Payment -$2,026
Property Tax -$383
Property Insurance -$107
HOA -$75
Property Management Fees -$99
CASH FLOW
-$50

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.

$549,000

PROJECTED PRICE

$2,640

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.5%
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-$5.0k$0.0$5.0k$10k$15k$20k

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$151,235

INVESTMENT

$151,235

Down Payment
$137,250
Rehab Estimate
$5,750
Closing Costs
$8,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$2,026

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $137,250
Loan Amount $411,750
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$31,601

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,640

    LIST RENT
  • $0.64

    LIST RENT PER SQFT
  • $2,874

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$2,640
1$2,6402$2,6503$2,6954$2,8955$2,950
$2,950
RENT COMPS ANALYSIS
  • 3290 E Aris Drive Gilbert, AZ 1
    • 5 beds 5 baths ∙ 4,120 Sqft ∙ Built 2007 5 beds 5 baths ∙ 4,120 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,640
    • $0.64
    •  
  • 2549 E Villa Park Street Gilbert, AZ 2
    • 4 beds 4 baths ∙ 3,855 Sqft ∙ Built 2019 4 beds 4 baths ∙ 3,855 Sqft ∙ Built 2019
    property image
    LEASED 07/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.69
    •  
  • 3723 E Latham Court Gilbert, AZ 3
    • 5 beds 3 baths ∙ 3,800 Sqft ∙ Built 2002 5 beds 3 baths ∙ 3,800 Sqft ∙ Built 2002
    property image
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.71
    •  
  • 5391 S Cardinal Street Gilbert, AZ 4
    • 6 beds 5 baths ∙ 4,350 Sqft ∙ Built 2007 6 beds 5 baths ∙ 4,350 Sqft ∙ Built 2007
    property image
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,895
    • $0.67
    •  
  • 3334 E Blue Ridge Way Gilbert, AZ 5
    • 5 beds 4 baths ∙ 4,120 Sqft ∙ Built 2005 5 beds 4 baths ∙ 4,120 Sqft ∙ Built 2005
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.72
    •  
PROPERTY LISTING DETAILS
Thomas A Mastromatto
Mountain Lake Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6160236
Last Updated: 11/13/2020
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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