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3670 E Waite Lane Gilbert, AZ 85295

3 Beds 2 Baths 1,423 sqft Built 2007

$349,000

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $245.26
  • 1 Days on Market
  • MLS # : 6179247
  • Updated Date : 01/10/2021 at 02:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,423 sqft
  • Baths : 2 full
Listing Agent

K & R Realty, Llc

Listing Agent's Description

Beautifully upgraded home ready for move in! New custom paint and flooring with fabulous plank vinyl in kitchen, baths and all halls and major walkways. Gorgeous Quartz countertops in spacious kitchen that includes a breakfast bar and a new large modern sink and faucet. Gas line available at the stove and in the laundry room. Ceiling fans in all rooms and living room. Master suite has a large closet, double sinks, shower/tub, separate toilet room and its own patio! Excellent neighborhood with 2 pools and parks and front landscape is included in HOA fee. Great location close to schools, San Tan Mall shopping and dining, and freeway access.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Cooley Station

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Cooley Station

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9191981

* 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
Chaparral Elementary School Primary Regular 859 47 8
Chaparral Elementary School Middle Regular 859 47 8
Williams Field High School High Regular 1,705 64 7

Chaparral Elementary School

  • Education Level: Primary
  • # of students: 859
  • # of teachers: 47
8
GreatSchools Rating

Chaparral Elementary School

  • Education Level: Middle
  • # of students: 859
  • # of teachers: 47
8
GreatSchools Rating

Williams Field High School

  • Education Level: High
  • # of students: 1,705
  • # of teachers: 64
7
GreatSchools Rating
 

$314,100$383,900$349,000

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$1,212
Property Tax -$238
Property Insurance -$55
HOA -$112
Property Management Fees -$99
CASH FLOW
-$176

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.

$349,000

PROJECTED PRICE

$1,540

PROJECTED RENT

0.44%

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,235

INVESTMENT

$98,235

Down Payment
$87,250
Rehab Estimate
$5,750
Closing Costs
$5,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,212

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,250
Loan Amount $261,750
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$6,663

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $1,540

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5403$1,5504$1,6955$1,700
$1,700
RENT COMPS ANALYSIS
  • 3670 E Waite Lane Gilbert, AZ 2
    • 3 beds 2 baths ∙ 1,423 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,423 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $1.08
    •  
  • 2811 S Cole Drive Gilbert, AZ 1
    • 3 beds 2 baths ∙ 1,423 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,423 Sqft ∙ Built 2006
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.05
    •  
  • 2835 S Cole Drive Gilbert, AZ 3
    • 3 beds 3 baths ∙ 1,423 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,423 Sqft ∙ Built 2006
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.09
    •  
  • 3323 E Elgin Street Gilbert, AZ 4
    • 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 2004
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.08
    •  
  • 3700 E Derringer Way Gilbert, AZ 5
    • 3 beds 2 baths ∙ 1,533 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,533 Sqft ∙ Built 2000
    LEASED 03/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.11
    •  
PROPERTY LISTING DETAILS
Becky Donaldson
K & R Realty, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6179247
Last Updated: 01/10/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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