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3434 E Phelps Street Gilbert, AZ 85295

5 Beds 3 Baths 2,219 sqft Built 2003

$441,000

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $198.74
  • 3 Days on Market
  • MLS # : 6189577
  • Updated Date : 02/06/2021 at 01:42
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,219 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homesmart

Listing Agent's Description

So many perks to this beautiful home! Within a few miles to the 202, Santan shopping area, Agritopia Epicenter, Gilbert regional park and Verde at Cooley station. This home is located on a corner lot, has a large backyard, two storage sheds, three car garage and RV gate. The vaulted ceilings and open layout take advantage of every square inch. Large master bedroom, spacious walk in closet and balcony make the master suite a dream. Secondary bedrooms with walk in closets and double sinks in both upstairs bathrooms. Updated water heater, flooring and exterior paint make this home a perfect fit.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Chandler Ginning

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Chandler Ginning

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9651981

* 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
 

$396,900$485,100$441,000

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,532
Property Tax -$301
Property Insurance -$70
HOA -$55
Property Management Fees -$99
CASH FLOW
-$87

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.

$441,000

PROJECTED PRICE

$1,970

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.1%
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$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$122,615

INVESTMENT

$122,615

Down Payment
$110,250
Rehab Estimate
$5,750
Closing Costs
$6,615

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,532

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $110,250
Loan Amount $330,750
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$17,315

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
  • $2,041

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,8953$1,9954$2,1005$2,200
$2,200
RENT COMPS ANALYSIS
  • 3434 E Phelps Street Gilbert, AZ 1
    • 5 beds 3 baths ∙ 2,219 Sqft ∙ Built 2003 5 beds 3 baths ∙ 2,219 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3440 E Morelos Court Gilbert, AZ 2
    • 4 beds 2 baths ∙ 2,212 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,212 Sqft ∙ Built 2003
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.86
    •  
  • 3242 S Moccasin Trail Gilbert, AZ 3
    • 4 beds 2 baths ∙ 2,140 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,140 Sqft ∙ Built 2001
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.93
    •  
  • 3238 E Fairview Street Gilbert, AZ 4
    • 4 beds 2 baths ∙ 2,345 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,345 Sqft ∙ Built 2003
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.90
    •  
  • 3661 E Waite Lane Gilbert, AZ 5
    • 4 beds 3 baths ∙ 2,225 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,225 Sqft ∙ Built 2007
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.99
    •  
PROPERTY LISTING DETAILS
Jennifer Larsen
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6189577
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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