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3747 E San Remo Avenue Gilbert, AZ 85234

4 Beds 2 Baths 2,429 sqft Built 1997

$498,000

List Price

$2,120

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $205.02
  • 4 Days on Market
  • MLS # : 6186645
  • Updated Date : 01/30/2021 at 05:42
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,429 sqft
  • Baths : 2 full
Listing Agent

Exp Realty

Listing Agent's Description

This 4 BED/2 BATH TW Lewis home in the much sought after Carol Rae Ranch development will not last long! Vaulted ceilings throughout, filled with tons of bright, natural light. Split master floor plan, master bath with dual vanities, large soaker tub and shower. Ginormous walk in closet. This home has both a large family room and a large formal dining room with a fireplace. 3 car garage, built in desk close to kitchen. Entertain in this backyard oasis with a pebble tec pool & large covered patio. Close to shopping, restaurants and Gilbert schools. Easy access to the SR60 & minutes to Banner Gateway.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Carol Rae Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Carol Rae Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9591981

* 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
Highland Jr High School Middle Regular 1,269 59 8
Highland High School High Regular 3,065 123 8
Highland Jr High School Middle Unknown NA

Highland Jr High School

  • Education Level: Middle
  • # of students: 1,269
  • # of teachers: 59
8
GreatSchools Rating

Highland High School

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

Highland Jr High School

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

$448,200$547,800$498,000

PURCHASE PRICE

$1,908$2,332$2,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,120
EXPENSES Loan Payment -$1,730
Property Tax -$295
Property Insurance -$75
HOA -$14
Property Management Fees -$99
CASH FLOW
-$93

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.

$498,000

PROJECTED PRICE

$2,120

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.5%
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-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$137,720

INVESTMENT

$137,720

Down Payment
$124,500
Rehab Estimate
$5,750
Closing Costs
$7,470

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,730

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $124,500
Loan Amount $373,500
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$21,048

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,120

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,131

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,0003$2,1204$2,3505$2,400
$2,400
RENT COMPS ANALYSIS
  • 3747 E San Remo Avenue Gilbert, AZ 3
    • 4 beds 2 baths ∙ 2,429 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,429 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $2,120
    • $0.87
    •  
  • 3620 E Page Avenue Gilbert, AZ 1
    • 4 beds 2 baths ∙ 2,419 Sqft ∙ Built 1996 4 beds 2 baths ∙ 2,419 Sqft ∙ Built 1996
    LEASED 06/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.82
    •  
  • 3850 E Redfield Court Gilbert, AZ 2
    • 4 beds 3 baths ∙ 2,493 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,493 Sqft ∙ Built 1998
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.80
    •  
  • 1256 N Banning Street Gilbert, AZ 4
    • 4 beds 2 baths ∙ 2,454 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,454 Sqft ∙ Built 1997
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.96
    •  
  • 3150 E San Angelo Avenue Gilbert, AZ 5
    • 4 beds 3 baths ∙ 2,592 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,592 Sqft ∙ Built 2003
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.93
    •  
PROPERTY LISTING DETAILS
Benjamin Marquez
Exp Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6186645
Last Updated: 01/30/2021
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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