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3740 E Red Oak Lane Gilbert, AZ 85297

3 Beds 2 Baths 1,609 sqft Built 2002

$320,000

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $198.88
  • 2 Days on Market
  • MLS # : 6182011
  • Updated Date : 01/17/2021 at 00:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,609 sqft
  • Baths : 2 full
Listing Agent

Hague Partners

Listing Agent's Description

Investor Opportunity! This home sits on a HUGE CORNER LOT in a fantastic neighborhood. Walking paths, the park, and great schools are just steps away!NO SHOWINGS! HOME IS BEING SOLD AS-IS. Accepted offer will be granted access within 48 Hours of contract acceptance.

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
 

$288,000$352,000$320,000

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$1,111
Property Tax -$239
Property Insurance -$59
HOA -$13
Property Management Fees -$99
CASH FLOW
$59

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.

$320,000

PROJECTED PRICE

$1,580

PROJECTED RENT

0.49%

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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$90,550

INVESTMENT

$90,550

Down Payment
$80,000
Rehab Estimate
$5,750
Closing Costs
$4,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,111

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $80,000
Loan Amount $240,000
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$22,514

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,585

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5503$1,5804$1,6005$1,600
$1,600
RENT COMPS ANALYSIS
  • 3740 E Red Oak Lane Gilbert, AZ 3
    • 3 beds 2 baths ∙ 1,609 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,609 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.98
    •  
  • 3830 S Joshua Tree Lane Gilbert, AZ 1
    • 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
    •  
  • 3816 E Trigger Way Gilbert, AZ 2
    • 3 beds 3 baths ∙ 1,564 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,564 Sqft ∙ Built 2008
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.99
    •  
  • 3800 E Trigger Way Gilbert, AZ 4
    • 3 beds 3 baths ∙ 1,684 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,684 Sqft ∙ Built 2008
    LEASED 02/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.95
    •  
  • 3922 S Rim Road Gilbert, AZ 5
    • 3 beds 3 baths ∙ 1,564 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,564 Sqft ∙ Built 2007
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.02
    •  
PROPERTY LISTING DETAILS
Taylor Magnuson
Hague Partners
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6182011
Last Updated: 01/17/2021
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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