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3348 E Ravenswood Drive Gilbert, AZ 85298

4 Beds 2 Baths 1,665 sqft Built 2007

$368,000

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $221.02
  • 3 Days on Market
  • MLS # : 6190343
  • Updated Date : 02/06/2021 at 14:16
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,665 sqft
  • Baths : 2 full
Listing Agent

Re/max Alliance Group

Listing Agent's Description

Great opportunity to live in Seville! Hard to find 4 bedroom home. Greatroom style living makes this live larger than it's size! Kitchen features gas range, brand-new microwave, pantry and lots of cabinet and counter space. Split bedroom plan with the master at the other end of the house. Nice sized master walk in closet. 3 guest rooms are all good sized. Built in desk is a great space for an office or homework. 2 car garage has utility sink and overhead storage racks. Rv gate leads to the easy maintenance backyard. Covered patio overlooks backyard. Above ground built in spa stays as a gift to the buyer. Refrigerator , washer and dryer included also.

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

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$331,200$404,800$368,000

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,278
Property Tax -$257
Property Insurance -$60
HOA -$12
Property Management Fees -$99
CASH FLOW
$14

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.

$368,000

PROJECTED PRICE

$1,720

PROJECTED RENT

0.47%

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,270

INVESTMENT

$103,270

Down Payment
$92,000
Rehab Estimate
$5,750
Closing Costs
$5,520

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,278

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,000
Loan Amount $276,000
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$21,565

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
  • $1.03

    LIST RENT PER SQFT
  • $1,802

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,720
1$1,7202$1,8003$1,9004$1,9005$1,900
$1,900
RENT COMPS ANALYSIS
  • 3348 E Ravenswood Drive Gilbert, AZ 1
    • 4 beds 2 baths ∙ 1,665 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,665 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $1.03
    •  
  • 3068 E Ravenswood Drive Gilbert, AZ 2
    • 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, AZ 3
    • 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
    •  
  • 7030 S San Jacinto Court Gilbert, AZ 4
    • 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 2005
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.12
    •  
  • 3267 E Regal Drive Gilbert, AZ 5
    • 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1994
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.13
    •  
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 #: 6190343
Last Updated: 02/06/2021
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. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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