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3701 E Fruitvale Avenue Gilbert, AZ 85297

3 Beds 3 Baths 2,178 sqft Built 2002

$449,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $206.15
  • 4 Days on Market
  • MLS # : 6196522
  • Updated Date : 02/27/2021 at 15:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,178 sqft
  • Baths : 2 full , 1 half
Listing Agent

Arizona Best Real Estate

Listing Agent's Description

Gorgeous Single Story home in the highly sought after Coronado Ranch neighborhood in Gilbert! This Popular Split Floor plan features an open kitchen with a CUSTOM granite kitchen island, maple Cabinetry, and spacious walk-in pantry. BEAUTIFUL WOOD-LOOK TILE FLOORING in all the right places! Brand new carpet in guest bedrooms/den. Spacious master suite w/ access to the backyard, and a roomy walk-in Closet. Master Bath w/ Double Sinks, and newly renovated walk in shower. Bonus room/Den with custom barn door currently being used as a 4th bedroom. Newly resurfaced HEATED PEBBLE POOL/SPA w/ view fence overlooks the greenbelt. Located w/in walking distance Splash Pad, Basketball Ct, Soccer Fields, and the highly coveted Coronado Elem School. Ample storage with RV gate and 3 car garage

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Coronado Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $122k362k

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

Neighborhood: Coronado Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10361981

* 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
Cooley Middle School Middle Unknown 915 39 NA
Williams Field High School High Regular 1,705 64 7

Cooley Middle School

  • Education Level: Middle
  • # of students: 915
  • # of teachers: 39
NA
GreatSchools Rating

Williams Field High School

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

$404,100$493,900$449,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,560
Property Tax -$300
Property Insurance -$70
HOA -$20
Property Management Fees -$99
CASH FLOW
-$198

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.

$449,000

PROJECTED PRICE

$1,850

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.7%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$124,735

INVESTMENT

$124,735

Down Payment
$112,250
Rehab Estimate
$5,750
Closing Costs
$6,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,560

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,250
Loan Amount $336,750
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$11,104

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,906

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,7953$1,8504$1,8755$2,000
$2,000
RENT COMPS ANALYSIS
  • 3701 E Fruitvale Avenue Gilbert, AZ 3
    • 3 beds 3 baths ∙ 2,178 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,178 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.85
    •  
  • 3762 E Sundance Avenue Gilbert, AZ 1
    • 4 beds 3 baths ∙ 2,006 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,006 Sqft ∙ Built 2004
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.80
    •  
  • 3697 E Sundance Avenue Gilbert, AZ 2
    • 4 beds 3 baths ∙ 2,006 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,006 Sqft ∙ Built 2003
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.89
    •  
  • 3636 E Warbler Road Gilbert, AZ 4
    • 4 beds 3 baths ∙ 2,162 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,162 Sqft ∙ Built 2005
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.87
    •  
  • 3962 E Ironhorse Road Gilbert, AZ 5
    • 4 beds 3 baths ∙ 2,126 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,126 Sqft ∙ Built 2002
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.94
    •  
PROPERTY LISTING DETAILS
Jasmyn Anderson
Arizona Best Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6196522
Last Updated: 02/27/2021
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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