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3413 E Thornton Avenue Gilbert, AZ 85297

4 Beds 2 Baths 1,903 sqft Built 2003

$495,000

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $260.12
  • 2 Days on Market
  • MLS # : 6203471
  • Updated Date : 03/06/2021 at 07:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,903 sqft
  • Baths : 2 full
Listing Agent

Exp Realty

Listing Agent's Description

This is what you have waiting for! 4 Bedroom and 2 Bath a 3 Car Garage, RV Gate and a Pool. What more can you ask for? It gets even better with a large spacious kitchen with 42'' Cabinets, Corian Countertops, an Island and stainless steel appliance. Split Floorplan with 3 Bedrooms and 1 Bath on the east side of the house. There is also a desk area off to that side as well. Master Bedroom is on the West side of the house which offers a large bedroom area with views and a door to your personal outside Oasis. Separate Tub and shower, Walkin Closet and Dual Sinks. Separate Family Room and Living room which makes it perfect for entertaining. 3 Car garage with plenty of Built in shelves, a work bench and small area near the Hot Water Heater for more storage.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Coronado Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $122k362k

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

Neighborhood: Coronado Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10361981

* 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
Cooley Middle School Middle Unknown 915 39 NA
Williams Field High School High Regular 1,705 64 7

Cooley Middle School

  • Education Level: Middle
  • # of students: 915
  • # of teachers: 39
NA
GreatSchools Rating

Williams Field High School

  • Education Level: High
  • # of students: 1,705
  • # of teachers: 64
7
GreatSchools Rating
 

$445,500$544,500$495,000

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$1,719
Property Tax -$331
Property Insurance -$64
HOA -$20
Property Management Fees -$99
CASH FLOW
-$423

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.

$495,000

PROJECTED PRICE

$1,810

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.7%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

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$136,925

INVESTMENT

$136,925

Down Payment
$123,750
Rehab Estimate
$5,750
Closing Costs
$7,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,719

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $123,750
Loan Amount $371,250
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$3,197

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,779

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7503$1,7954$1,8105$1,825
$1,825
RENT COMPS ANALYSIS
  • 3413 E Thornton Avenue Gilbert, AZ 4
    • 4 beds 2 baths ∙ 1,903 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,903 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $0.95
    •  
  • 4008 E Ironhorse Road Gilbert, AZ 1
    • 3 beds 3 baths ∙ 1,724 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,724 Sqft ∙ Built 2002
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.99
    •  
  • 4021 E Timberline Road Gilbert, AZ 2
    • 3 beds 3 baths ∙ 1,786 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,786 Sqft ∙ Built 2002
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.98
    •  
  • 3697 E Sundance Avenue Gilbert, AZ 3
    • 4 beds 3 baths ∙ 2,006 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,006 Sqft ∙ Built 2003
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.89
    •  
  • 4027 E Marshall Avenue Gilbert, AZ 5
    • 3 beds 3 baths ∙ 2,073 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,073 Sqft ∙ Built 2003
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.88
    •  
PROPERTY LISTING DETAILS
Will Wegner
Exp Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6203471
Last Updated: 03/06/2021
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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