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3667 E Marlene Drive Gilbert, AZ 85296

4 Beds 3 Baths 3,043 sqft Built 2008

$630,000

List Price

$2,240

$2K - $2.5K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $207.03
  • 3 Days on Market
  • MLS # : 6163180
  • Updated Date : 11/27/2020 at 10:19
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,043 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty Executives

Listing Agent's Description

Don't miss what might be the best home and street for sale in Morrison Ranch! This home has been REMODELED and updated to make it an entertainer's dream. The stunning kitchen has CUSTOM CABINETS (soft-close), GORGEOUS GRANITE, stainless steel appliances, drawer microwave, solar tubes, a HIGH END GAS RANGE and a beautiful kitchen island. The open floor plan also has a family room with fireplace, a dining area off the kitchen, an enlarged formal dining room with 2 chandeliers, wall sconces and built-in cabinets, and Plantation SHUTTERS throughout. The large primary bedroom with en suite is perfectly designed, and includes private access to the back yard. 3 more bedrooms and a den/study round out this upgraded home in the heart of Morrison Ranch. This one is READY to go.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Lakeview Trails North at Morrison Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $122k484k

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

Neighborhood: Lakeview Trails North at Morrison Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000210022002300Rent in $10362304

* 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 Elementary School Primary Regular 720 42 10
Greenfield Elementary School Middle Regular 720 42 10
Highland High School High Regular 3,065 123 8

Greenfield Elementary School

  • Education Level: Primary
  • # of students: 720
  • # of teachers: 42
10
GreatSchools Rating

Greenfield Elementary School

  • Education Level: Middle
  • # of students: 720
  • # of teachers: 42
10
GreatSchools Rating

Highland High School

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

$567,000$693,000$630,000

PURCHASE PRICE

$2,016$2,464$2,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,240
EXPENSES Loan Payment -$2,324
Property Tax -$390
Property Insurance -$86
HOA -$37
Property Management Fees -$99
CASH FLOW
-$697

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.

$630,000

PROJECTED PRICE

$2,240

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.8%
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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$172,700

INVESTMENT

$172,700

Down Payment
$157,500
Rehab Estimate
$5,750
Closing Costs
$9,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,324

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $157,500
Loan Amount $472,500
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,800

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,240

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,480

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2403$2,2954$2,3995$2,495
$2,495
RENT COMPS ANALYSIS
  • 3667 E Marlene Drive Gilbert, AZ 2
    • 4 beds 3 baths ∙ 3,043 Sqft ∙ Built 2008 4 beds 3 baths ∙ 3,043 Sqft ∙ Built 2008
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,240
    • $0.74
    •  
  • 4131 E Cullumber Court Gilbert, AZ 1
    • 5 beds 3 baths ∙ 2,734 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,734 Sqft ∙ Built 2005
    property image
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.80
    •  
  • 3916 E Marlene Drive Gilbert, AZ 3
    • 4 beds 3 baths ∙ 3,111 Sqft ∙ Built 2009 4 beds 3 baths ∙ 3,111 Sqft ∙ Built 2009
    property image
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.74
    •  
  • 3117 E Sagebrush Street Gilbert, AZ 4
    • 4 beds 3 baths ∙ 2,872 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,872 Sqft ∙ Built 2017
    property image
    LEASED 10/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,399
    • $0.84
    •  
  • 3676 E Gideon Way Gilbert, AZ 5
    • 4 beds 3 baths ∙ 2,849 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,849 Sqft ∙ Built 2014
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.88
    •  
PROPERTY LISTING DETAILS
Jeffrey L. Franklin
Realty Executives
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6163180
Last Updated: 11/27/2020
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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