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3598 S Arroyo Lane Gilbert, AZ 85297

3 Beds 2 Baths 1,521 sqft Built 2001

$342,000

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $224.85
  • 3 Days on Market
  • MLS # : 6172990
  • Updated Date : 12/18/2020 at 17:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,521 sqft
  • Baths : 2 full
Listing Agent

United Brokers Group

Listing Agent's Description

Immaculate home on an oversized lot near park & school. Updated flooring, GRANITE countertops. Eat in kitchen w/dual breakfast bars, island storage & a pantry. Spacious great room opens to covered patio. Vaulted ceilings. Bedrooms are complete w/fans, blinds. NEW HVAC UNIT INASTALLED FALL OF 2019. Bright Master suite w/bonus bay window has private exit to backyard, spacious walk-in closet w/built-ins, full bathroom w/dual sink vanity, soaking tub & large shower. Energy efficient gas heat, hot water & range help keep your energy bills low. Oversized backyard features fenced dog run, a covered patio with plenty of room for entertaining! Nice home with lots of updates and GREAT location!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: San Tan Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: San Tan Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9371981

* 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
San Tan Elementary School Primary Regular 654 32 9
San Tan Elementary School Middle Regular 654 32 9
Higley High School High Regular 1,596 70 7

San Tan Elementary School

  • Education Level: Primary
  • # of students: 654
  • # of teachers: 32
9
GreatSchools Rating

San Tan Elementary School

  • Education Level: Middle
  • # of students: 654
  • # of teachers: 32
9
GreatSchools Rating

Higley High School

  • Education Level: High
  • # of students: 1,596
  • # of teachers: 70
7
GreatSchools Rating
 

$307,800$376,200$342,000

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$1,262
Property Tax -$234
Property Insurance -$57
HOA -$13
Property Management Fees -$99
CASH FLOW
-$145

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.

$342,000

PROJECTED PRICE

$1,520

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.6%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$96,380

INVESTMENT

$96,380

Down Payment
$85,500
Rehab Estimate
$5,750
Closing Costs
$5,130

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,262

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $85,500
Loan Amount $256,500
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$11,588

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,521

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5003$1,5204$1,6505$1,650
$1,650
RENT COMPS ANALYSIS
  • 3598 S Arroyo Lane Gilbert, AZ 3
    • 3 beds 2 baths ∙ 1,521 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,521 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $1.00
    •  
  • 3460 S Arroyo Lane Gilbert, AZ 1
    • 3 beds 2 baths ∙ 1,521 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,521 Sqft ∙ Built 2001
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.98
    •  
  • 3830 S Joshua Tree Lane Gilbert, AZ 2
    • 3 beds 2 baths ∙ 1,525 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,525 Sqft ∙ Built 2002
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.98
    •  
  • 3479 E Red Oak Lane Gilbert, AZ 4
    • 3 beds 2 baths ∙ 1,585 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,585 Sqft ∙ Built 2003
    LEASED 01/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.04
    •  
  • 3641 S Loback Lane Gilbert, AZ 5
    • 4 beds 2 baths ∙ 1,656 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,656 Sqft ∙ Built 2001
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.00
    •  
PROPERTY LISTING DETAILS
Rich E Kort
United Brokers Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6172990
Last Updated: 12/18/2020
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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