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3753 E Phelps Street Gilbert, AZ 85295

3 Beds 3 Baths 2,300 sqft Built 2006

$438,000

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $190.43
  • 3 Days on Market
  • MLS # : 6187189
  • Updated Date : 01/29/2021 at 18:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,300 sqft
  • Baths : 3 full
Listing Agent

Congress Realty, Inc.

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
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
 

$394,200$481,800$438,000

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$1,521
Property Tax -$299
Property Insurance -$72
HOA -$69
Property Management Fees -$99
CASH FLOW
-$110

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.

$438,000

PROJECTED PRICE

$1,950

PROJECTED RENT

0.45%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$121,820

INVESTMENT

$121,820

Down Payment
$109,500
Rehab Estimate
$5,750
Closing Costs
$6,570

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,521

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $109,500
Loan Amount $328,500
See What Happens When You Reinvest Cash Flow

3.75

YEARS SAVED

$15,365

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,990

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8003$1,9504$2,0005$2,200
$2,200
RENT COMPS ANALYSIS
  • 3753 E Phelps Street Gilbert, AZ 3
    • 3 beds 3 baths ∙ 2,300 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,300 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.85
    •  
  • 3847 E Frances Lane Gilbert, AZ 1
    • 3 beds 3 baths ∙ 2,219 Sqft ∙ Built 2012 3 beds 3 baths ∙ 2,219 Sqft ∙ Built 2012
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.79
    •  
  • 3141 S Joshua Tree Lane Gilbert, AZ 2
    • 4 beds 3 baths ∙ 2,218 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,218 Sqft ∙ Built 2012
    LEASED 11/15/02
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.81
    •  
  • 2973 S Fisher Lane Gilbert, AZ 4
    • 4 beds 3 baths ∙ 2,300 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,300 Sqft ∙ Built 2006
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.87
    •  
  • 3661 E Waite Lane Gilbert, AZ 5
    • 4 beds 3 baths ∙ 2,225 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,225 Sqft ∙ Built 2007
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.99
    •  
PROPERTY LISTING DETAILS
Jared A English
Congress Realty, Inc.
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6187189
Last Updated: 01/29/2021
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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