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3448 E Serrana Court Gilbert, AZ 85297

5 Beds 3 Baths 3,179 sqft Built 2003

$520,000

List Price

$2,280

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $163.57
  • 2 Days on Market
  • MLS # : 6181441
  • Updated Date : 01/16/2021 at 17:53
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,179 sqft
  • Baths : 3 full
Listing Agent

Meridian Elite Properties

Listing Agent's Description

You will love this Cul-De-Sac, Corner Lot with 5 bedroom 3 bath two story home featuring a 4 Garage, Integra Block and 2x6 Contruction, Large open entry, living and dining room. Game Room in between 3 upstairs bedrooms, an additional bedroom downstairs next to 3rd bathroom. Large master bedroom upstairs with updated Frameless shower, separate tub, and large master walk in closet with built in safe. Kitchen has maple cabinets, Island with sink, Gas Range, with eat in nook. Large Downstairs Laundry room with extra storage. BackYard has Extended Covered Patio with speakers and Owner just spent $25,000 on Backyard with 1000 psi mister system, 3 Hammock supports, Extensive Acker Stone Pavers, Grass area, storage shed and planters, Rv Gate, and mounts for shade sails.

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
Coronado Elementary School Primary Regular 643 31 9
Coronado Elementary School Middle Regular 643 31 9
Williams Field High School High Regular 1,705 64 7

Coronado Elementary School

  • Education Level: Primary
  • # of students: 643
  • # of teachers: 31
9
GreatSchools Rating

Coronado Elementary School

  • Education Level: Middle
  • # of students: 643
  • # of teachers: 31
9
GreatSchools Rating

Williams Field High School

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

$468,000$572,000$520,000

PURCHASE PRICE

$2,052$2,508$2,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,280
EXPENSES Loan Payment -$1,806
Property Tax -$347
Property Insurance -$89
HOA -$20
Property Management Fees -$99
CASH FLOW
-$82

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.

$520,000

PROJECTED PRICE

$2,280

PROJECTED RENT

0.44%

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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$143,550

INVESTMENT

$143,550

Down Payment
$130,000
Rehab Estimate
$5,750
Closing Costs
$7,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,806

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $130,000
Loan Amount $390,000
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$22,370

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
  • $2,456

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,2003$2,3504$2,4505$2,695
$2,695
RENT COMPS ANALYSIS
  • 3448 E Serrana Court Gilbert, AZ 1
    • 5 beds 3 baths ∙ 3,179 Sqft ∙ Built 2003 5 beds 3 baths ∙ 3,179 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3712 E Fruitvale Avenue Gilbert, AZ 2
    • 4 beds 3 baths ∙ 3,221 Sqft ∙ Built 2004 4 beds 3 baths ∙ 3,221 Sqft ∙ Built 2004
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.68
    •  
  • 3789 E Fruitvale Avenue Gilbert, AZ 3
    • 4 beds 3 baths ∙ 3,070 Sqft ∙ Built 2003 4 beds 3 baths ∙ 3,070 Sqft ∙ Built 2003
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.77
    •  
  • 4132 E Carriage Court Gilbert, AZ 4
    • 4 beds 3 baths ∙ 3,080 Sqft ∙ Built 2001 4 beds 3 baths ∙ 3,080 Sqft ∙ Built 2001
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.80
    •  
  • 3767 E Fruitvale Avenue Gilbert, AZ 5
    • 5 beds 3 baths ∙ 3,221 Sqft ∙ Built 2003 5 beds 3 baths ∙ 3,221 Sqft ∙ Built 2003
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.84
    •  
PROPERTY LISTING DETAILS
Scott Goodrich
Meridian Elite Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6181441
Last Updated: 01/16/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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