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3527 E Austin Drive Gilbert, AZ 85296

5 Beds 3 Baths 2,990 sqft Built 2019

$725,000

List Price

$2,580

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $242.47
  • 3 Days on Market
  • MLS # : 6209788
  • Updated Date : 03/20/2021 at 19:30
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,990 sqft
  • Baths : 3 full
Listing Agent

Homesmart

Listing Agent's Description

Wow! Captivating property at Morrison Ranch is a dream come true! This energy-efficient home is a perfect retreat & a stunning location for entertaining! Excellent curb appeal, carefully manicured landscaping, 3 car tandem garage, pavers in driveway & walkway are just the beginning. As you step inside & walk down the hall you'll be amazed by the airy & inviting open layout! Breathtaking kitchen features espresso cabinets, mosaic backsplash, high-end SS appliances, quartz counters, oversized island w/breakfast bar, and walk-in pantry. Owner's suite has a lavish master bath with dual vanity, soaking tub, step-in shower, and bountiful walk-in closet. Remarkable backyard offers a covered patio, lush lawn, pergola, and a beautiful pool w/spa. What more can you ask for? Make an offer today!

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
Greenfield Junior High School Middle Regular 917 44 9
Highland High School High Regular 3,065 123 8
Greenfield Junior High School Middle Unknown NA

Greenfield Junior High School

  • Education Level: Middle
  • # of students: 917
  • # of teachers: 44
9
GreatSchools Rating

Highland High School

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

Greenfield Junior High School

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

$652,500$797,500$725,000

PURCHASE PRICE

$2,322$2,838$2,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,580
EXPENSES Loan Payment -$2,518
Property Tax -$449
Property Insurance -$85
HOA -$37
Property Management Fees -$99
CASH FLOW
-$609

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.

$725,000

PROJECTED PRICE

$2,580

PROJECTED RENT

0.36%

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$197,875

INVESTMENT

$197,875

Down Payment
$181,250
Rehab Estimate
$5,750
Closing Costs
$10,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,518

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $181,250
Loan Amount $543,750
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$4,862

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,580

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,549

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$2,399
1$2,3992$2,4503$2,4954$2,5805$2,595
$2,595
RENT COMPS ANALYSIS
  • 3527 E Austin Drive Gilbert, AZ 4
    • 5 beds 3 baths ∙ 2,990 Sqft ∙ Built 2019 5 beds 3 baths ∙ 2,990 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $2,580
    • $0.86
    •  
  • 3117 E Sagebrush Street Gilbert, AZ 1
    • 4 beds 3 baths ∙ 2,872 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,872 Sqft ∙ Built 2017
    LEASED 10/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,399
    • $0.84
    •  
  • 3916 E Marlene Drive Gilbert, AZ 2
    • 4 beds 3 baths ∙ 3,111 Sqft ∙ Built 2009 4 beds 3 baths ∙ 3,111 Sqft ∙ Built 2009
    LEASED 03/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.79
    •  
  • 3676 E Gideon Way Gilbert, AZ 3
    • 4 beds 3 baths ∙ 2,849 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,849 Sqft ∙ Built 2014
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.88
    •  
  • 3828 E Gideon Way Gilbert, AZ 5
    • 5 beds 4 baths ∙ 2,889 Sqft ∙ Built 2014 5 beds 4 baths ∙ 2,889 Sqft ∙ Built 2014
    LEASED 03/09/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.90
    •  
PROPERTY LISTING DETAILS
D Troy Holland
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6209788
Last Updated: 03/20/2021
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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