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3625 E Cassia Lane Gilbert, AZ 85298

3 Beds 3 Baths 2,713 sqft Built 2013

INVESTimate

$575,000

List Price

$2,280

$2,052 - $2,508

Rent Est.

$646,243  ( +12.39%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 2013
  • Price/Sqft : $211.94
  • 2 Days on Market
  • MLS # : 6122163
  • Updated Date : 08/25/2020 at 14:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,713 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

This is an elegant, contemporary former model home loaded with upgrades in the highly sought-after community of The Bridges in Gilbert.The gated courtyard with pavers, water feature and cafe lights provide an excellent additional outdoor living space. Notice the amazing stacked stone tile entry and mosaic tile inset floor as you enter the foyer. A generously sized den/flex room is adjacent to foyer with custom floating shelves.This open concept design is perfect for entertaining with a large gourmet kitchen that flows effortlessly into the spacious family room and dining room.Multi-slide arcadia doors in the main living space lead to the backyard oasis with a zen-like water feature. Custom decorator wall shelves nicely accent the large wall space in the great room for your momentos.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Bridges at Gilbert

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400kPrice in $91k424k

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

Neighborhood: Bridges at Gilbert

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10362234

* 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
Power Ranch Elementary School Primary Regular 713 34 10
Power Ranch Elementary School Middle Regular 713 34 10
Higley High School High Regular 1,596 70 7

Power Ranch Elementary School

  • Education Level: Primary
  • # of students: 713
  • # of teachers: 34
10
GreatSchools Rating

Power Ranch Elementary School

  • Education Level: Middle
  • # of students: 713
  • # of teachers: 34
10
GreatSchools Rating

Higley High School

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

$517,500$632,500$575,000

PURCHASE PRICE

$2,052$2,508$2,280

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,280
EXPENSES Loan Payment -$2,122
Property Tax -$384
Property Insurance -$80
HOA -$100
Property Management Fees -$99
CASH FLOW
-$505

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.

$575,000

PROJECTED PRICE

$2,280

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 12.39%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$158,125

INVESTMENT

$158,125

Down Payment
$143,750
Rehab Estimate
$5,750
Closing Costs
$8,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,122

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $143,750
Loan Amount $431,250
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$4,625

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $2,435

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,0503$2,2504$2,5005$2,650
$2,650
RENT COMPS ANALYSIS
  • 3625 E Cassia Lane Gilbert, 1
    • 3 beds 3 baths ∙ 2,713 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,713 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3741 E Esplanade Avenue Gilbert, 2
    • 3 beds 3 baths ∙ 2,733 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,733 Sqft ∙ Built 2002
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.75
    •  
  • 5407 S Tatum Lane Gilbert, 3
    • 4 beds 3 baths ∙ 2,460 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,460 Sqft ∙ Built 2013
    LEASED 06/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.91
    •  
  • 3936 E Cassia Lane Gilbert, 4
    • 4 beds 3 baths ∙ 2,626 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,626 Sqft ∙ Built 2015
    LEASED 05/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.95
    •  
  • 3567 E Chestnut Lane Gilbert, 5
    • 3 beds 3 baths ∙ 2,713 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,713 Sqft ∙ Built 2014
    LEASED 09/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.98
    •  
PROPERTY LISTING DETAILS
Sara Waide Bowers
Coldwell Banker Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6122163
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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