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3473 E Washington Avenue Gilbert, AZ 85234

3 Beds 2 Baths 1,687 sqft Built 2001

$449,900

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2001
  • Price/Sqft : $266.69
  • 2 Days on Market
  • MLS # : 6157820
  • Updated Date : 11/07/2020 at 16:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,687 sqft
  • Baths : 2 full
Listing Agent

Apartment Hunters

Listing Agent's Description

ALL REMODELED AND UPGRADED!! HARDWOOD FLOORS IN ALL BEDROOMS AND CLOSETS. CROWN MOLDING THROUGHOUT. WAINSCOATING THROUGHOUT, GRANITE COUNTERTOP, WHITE CABINETS, WALK IN MASTER SHOWER. MASTER BATH HAS DUAL SINKS. HOME JUST PAINTED INSIDE AND OUT NOV 2020! ALL POOL TILE AND BACKYARD REMODELED. POOL EQUIPMENT JUST NEW SAND FILTER, MOTOR. BACKYARD PAVERS WITH FAKE GRASS FOR LOUNGING. FENCED YARD FOR DOGS AND RV GATE. LAUNDRY ROOM HAS SINK.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Higley Groves

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Higley Groves

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
Highland Park Elementary School Primary Regular 907 48 9
Highland Park Elementary School Middle Regular 907 48 9
Highland High School High Regular 3,065 123 8

Highland Park Elementary School

  • Education Level: Primary
  • # of students: 907
  • # of teachers: 48
9
GreatSchools Rating

Highland Park Elementary School

  • Education Level: Middle
  • # of students: 907
  • # of teachers: 48
9
GreatSchools Rating

Highland High School

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

$404,910$494,890$449,900

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$1,660
Property Tax -$267
Property Insurance -$60
HOA -$24
Property Management Fees -$99
CASH FLOW
-$400

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.

$449,900

PROJECTED PRICE

$1,710

PROJECTED RENT

0.38%

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$1.2M

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$124,974

INVESTMENT

$124,974

Down Payment
$112,475
Rehab Estimate
$5,750
Closing Costs
$6,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,475
Loan Amount $337,425
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$4,115

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,708

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6953$1,7104$1,7955$1,795
$1,795
RENT COMPS ANALYSIS
  • 3473 E Washington Avenue Gilbert, AZ 3
    • 3 beds 2 baths ∙ 1,687 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,687 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $1.01
    •  
  • 3530 E Park Avenue Gilbert, AZ 1
    • 3 beds 2 baths ∙ 1,699 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,699 Sqft ∙ Built 1999
    property image
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.91
    •  
  • 3961 E Lexington Avenue Gilbert, AZ 2
    • 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 1996
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.04
    •  
  • 4036 E Page Avenue Gilbert, AZ 4
    • 3 beds 2 baths ∙ 1,718 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,718 Sqft ∙ Built 2006
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.04
    •  
  • 3586 E Park Avenue Gilbert, AZ 5
    • 3 beds 2 baths ∙ 1,699 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,699 Sqft ∙ Built 1999
    property image
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.06
    •  
PROPERTY LISTING DETAILS
Laurie Parent
Apartment Hunters
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6157820
Last Updated: 11/07/2020
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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