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3478 E Riopelle Avenue Gilbert, AZ 85298

4 Beds 3 Baths 2,199 sqft Built 2004

INVESTimate

$399,000

List Price

$1,830

$1,647 - $2,013

Rent Est.

$419,588  ( +5.16%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $181.45
  • 7 Days on Market
  • MLS # : 6120294
  • Updated Date : 08/25/2020 at 13:38
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,199 sqft
  • Baths : 3 full
Listing Agent

Homesmart

Listing Agent's Description

This home has all the right features & a FABULOUS location in Seville! 4 bed/3 bath with tile & carpet in all the right places. Beautiful backyard with brick paths, extended patio, raised gardens, and grass play area. The kitchen features granite counter tops, pantry, an island, a separate breakfast room, and opens to the family room with gas fireplace. Home includes a separate living/dining room, as well as a separate entry, first floor guest suite with full bath (included in bed/bath count). Upstairs is a HUGE master bedroom & bath that leads out to a balcony, 2 secondary bedrooms with a Jack & Jill bathroom, & a separate study/office area in the loft. That's not all....Plantation shutters, security doors, alarm system, surround sound AND a 3 car garage with tons of cabinets!

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PRICE & RENT TRENDS

Neighborhood: Seville

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $122k388k

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

Neighborhood: Seville

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10362109

* 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
Riggs Elementary School Primary Regular 1,024 50 10
Riggs Elementary School Middle Regular 1,024 50 10
Casteel High School High Regular NA

Riggs Elementary School

  • Education Level: Primary
  • # of students: 1,024
  • # of teachers: 50
10
GreatSchools Rating

Riggs Elementary School

  • Education Level: Middle
  • # of students: 1,024
  • # of teachers: 50
10
GreatSchools Rating

Casteel High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$359,100$438,900$399,000

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

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$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$1,472
Property Tax -$279
Property Insurance -$70
HOA -$73
Property Management Fees -$99
CASH FLOW
-$163

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.

$399,000

PROJECTED PRICE

$1,830

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.16%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,485

INVESTMENT

$111,485

Down Payment
$99,750
Rehab Estimate
$5,750
Closing Costs
$5,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,472

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,750
Loan Amount $299,250
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$13,098

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,830

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,974

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,830
1$1,8302$1,8503$1,8924$1,9005$2,250
$2,250
RENT COMPS ANALYSIS
  • 3478 E Riopelle Avenue Gilbert, 1
    • 4 beds 3 baths ∙ 2,199 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,199 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $0.83
    •  
  • 3361 E Pinot Noir Avenue Gilbert, 2
    • 4 beds 3 baths ∙ 2,142 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,142 Sqft ∙ Built 2005
    property image
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.86
    •  
  • 3668 E Jaguar Avenue Gilbert, 3
    • 3 beds 2 baths ∙ 2,097 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,097 Sqft ∙ Built 2005
    property image
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,892
    • $0.90
    •  
  • 3304 E Merlot Street Gilbert, 4
    • 4 beds 3 baths ∙ 2,142 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,142 Sqft ∙ Built 2005
    property image
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.89
    •  
  • 7044 S Bridal Vail Drive Gilbert, 5
    • 5 beds 3 baths ∙ 2,389 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,389 Sqft ∙ Built 2005
    property image
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.94
    •  
PROPERTY LISTING DETAILS
Suzie Deprez
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6120294
Last Updated: 08/25/2020
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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