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3301 E Meadowview Drive Gilbert, AZ 85298

3 Beds 3 Baths 1,857 sqft Built 2008

$240,000

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
November 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $129.24
  • 5 Days on Market
  • MLS # : 6164945
  • Updated Date : 11/27/2020 at 17:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,857 sqft
  • Baths : 3 full
Listing Agent

Core Choice Realty

Listing Agent's Description

PRIME LOCATION! Opportunity knocks to build equity with this 3 bedroom, 3 bath home on greenbelt with prime golf course/mountain views in Seville.North/South exposure. Floor plan includes two master bedrooms w private ensuites on upper level as well as laundry and loft/gameroom/office space. Lower level bedroom and full bathroom. Gilbert address, Chandler school district. Sold as as; only cash offers will be considered. Serious/qualified inquiries only please.

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
Riggs Elementary School Primary Regular 1,024 50 10
Riggs Elementary School Middle Regular 1,024 50 10
Casteel High School High Regular NA

Riggs Elementary School

  • Education Level: Primary
  • # of students: 1,024
  • # of teachers: 50
10
GreatSchools Rating

Riggs Elementary School

  • Education Level: Middle
  • # of students: 1,024
  • # of teachers: 50
10
GreatSchools Rating

Casteel High School

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

$216,000$264,000$240,000

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$886
Property Tax -$211
Property Insurance -$63
HOA -$12
Property Management Fees -$99
CASH FLOW
$469

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.

$240,000

PROJECTED PRICE

$1,740

PROJECTED RENT

0.73%

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$886

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

14.17

YEARS SAVED

$64,671

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,857

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7403$1,7494$1,7955$1,850
$1,850
RENT COMPS ANALYSIS
  • 3301 E Meadowview Drive Gilbert, AZ 2
    • 3 beds 3 baths ∙ 1,857 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,857 Sqft ∙ Built 2008
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.94
    •  
  • 7052 S Bridal Vail Drive Gilbert, AZ 1
    • 3 beds 2 baths ∙ 1,664 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,664 Sqft ∙ Built 2005
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.99
    •  
  • 3285 E Meadowview Drive Gilbert, AZ 3
    • 3 beds 3 baths ∙ 1,675 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,675 Sqft ∙ Built 2008
    property image
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,749
    • $1.04
    •  
  • 3231 E Sports Drive Gilbert, AZ 4
    • 3 beds 3 baths ∙ 1,857 Sqft ∙ Built 2010 3 beds 3 baths ∙ 1,857 Sqft ∙ Built 2010
    property image
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.97
    •  
  • 3279 E Morning Star Lane Gilbert, AZ 5
    • 3 beds 3 baths ∙ 1,857 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,857 Sqft ∙ Built 2007
    property image
    LEASED 11/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.00
    •  
PROPERTY LISTING DETAILS
Lori Malin
Core Choice Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6164945
Last Updated: 11/27/2020
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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