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3449 E Cody Avenue Gilbert, AZ 85234

3 Beds 3 Baths 2,639 sqft Built 2003

$500,000

List Price

$2,370

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

November 17, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $189.47
  • 6 Days on Market
  • MLS # : 6161557
  • Updated Date : 11/17/2020 at 14:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,639 sqft
  • Baths : 2 full , 1 half
Listing Agent

West Usa Realty

Listing Agent's Description

Location in heart of Gilbert. North South exposure-front yard faces north. THREE CAR GARAGE. NO NEIGHBORS behind-backs to green belt! Huge kitchen OPEN to family room. Granite counters, stainless steel appliances. High-end built in refrigerator. GAS cooktop with high end chef's hood to get rid of all the smoke. Walk-in pantry. Modern wood-plank style vinyl tiles. Huge master w/large walk-in closet. SPLIT FLOOR PLAN. Big work station next to large secondary bedrooms w/walk-in closets! Back yard is a resort-paradise. Beautiful HEATED pool to swim laps! Built in bbq. 1/2 view fence of greenbelt. Totally private! Plantation shutters throughout. TEN FOOT flat ceiling-12' high living room! Sink in laundry room. Water softener. Minutes from major shopping and freeways! LIGHT & BRIGHT throughout!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Gilbert

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Gilbert

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10361987

* 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
Carol Rae Ranch Elementary School Primary Regular 594 37 7
Highland Jr High School Middle Regular 1,269 59 8
Highland High School High Regular 3,065 123 8

Carol Rae Ranch Elementary School

  • Education Level: Primary
  • # of students: 594
  • # of teachers: 37
7
GreatSchools Rating

Highland Jr High School

  • Education Level: Middle
  • # of students: 1,269
  • # of teachers: 59
8
GreatSchools Rating

Highland High School

  • Education Level: High
  • # of students: 3,065
  • # of teachers: 123
8
GreatSchools Rating
 

$450,000$550,000$500,000

PURCHASE PRICE

$2,133$2,607$2,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,370
EXPENSES Loan Payment -$1,845
Property Tax -$297
Property Insurance -$79
HOA -$52
Property Management Fees -$99
CASH FLOW
-$1

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.

$500,000

PROJECTED PRICE

$2,370

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.0%
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$1.6M

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$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,250

INVESTMENT

$138,250

Down Payment
$125,000
Rehab Estimate
$5,750
Closing Costs
$7,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,845

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $125,000
Loan Amount $375,000
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$34,249

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,370

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,540

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,3503$2,3704$2,4005$2,540
$2,540
RENT COMPS ANALYSIS
  • 3449 E Cody Avenue Gilbert, AZ 3
    • 3 beds 3 baths ∙ 2,639 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,639 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,370
    • $0.90
    •  
  • 3441 E Weather Vane Road Gilbert, AZ 1
    • 4 beds 4 baths ∙ 2,367 Sqft ∙ Built 2009 4 beds 4 baths ∙ 2,367 Sqft ∙ Built 2009
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.99
    •  
  • 1256 N Banning Street Gilbert, AZ 2
    • 4 beds 2 baths ∙ 2,454 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,454 Sqft ∙ Built 1997
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.96
    •  
  • 3150 E San Angelo Avenue Gilbert, AZ 4
    • 4 beds 3 baths ∙ 2,592 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,592 Sqft ∙ Built 2003
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.93
    •  
  • 981 N Balboa Drive Gilbert, AZ 5
    • 4 beds 2 baths ∙ 2,619 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,619 Sqft ∙ Built 2003
    LEASED 06/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,540
    • $0.97
    •  
PROPERTY LISTING DETAILS
Thomas M Speaks
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6161557
Last Updated: 11/17/2020
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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