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3778 E Chestnut Lane Gilbert, AZ 85298

4 Beds 4 Baths 3,534 sqft Built 2014

$875,000

List Price

$3,060

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $247.59
  • 4 Days on Market
  • MLS # : 6191745
  • Updated Date : 02/11/2021 at 08:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,534 sqft
  • Baths : 3 full , 1 half
Listing Agent

Kenneth James Realty

Listing Agent's Description

Here is your opportunity to live in the highly desirable South Gilbert community, The Bridges at Gilbert. This David Weekly home is located right across the street from one of the many community parks, walking distance to the highly rated elementary school, as well as the new Gilbert Regional Park. Single story. Pool. Luxurious master retreat. Gated courtyard. 4 bedrooms/3.5bath/ plus play/teen/game room. Walk in through a private & gated courtyard to your oversized living area with a fireplace in great room, gourmet kitchen with extended cabinetry, formal dining room, and walk in pantry. Master bedroom includes separate access to the backyard, his & her walk in closets, and separate vanities. Two oversized bedrooms located close to secondary bathroom, another bedroom with its own private

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Bridges at Gilbert

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400kPrice in $91k424k

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

Neighborhood: Bridges at Gilbert

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10362234

* 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
Sossaman Middle School Middle Unknown 901 44 NA
Higley High School High Regular 1,596 70 7

Sossaman Middle School

  • Education Level: Middle
  • # of students: 901
  • # of teachers: 44
NA
GreatSchools Rating

Higley High School

  • Education Level: High
  • # of students: 1,596
  • # of teachers: 70
7
GreatSchools Rating
 

$787,500$962,500$875,000

PURCHASE PRICE

$2,754$3,366$3,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,060
EXPENSES Loan Payment -$3,039
Property Tax -$585
Property Insurance -$96
HOA -$33
Property Management Fees -$99
CASH FLOW
-$792

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.

$875,000

PROJECTED PRICE

$3,060

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 12.4%
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$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$237,625

INVESTMENT

$237,625

Down Payment
$218,750
Rehab Estimate
$5,750
Closing Costs
$13,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$3,039

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $218,750
Loan Amount $656,250
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$4,251

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,060

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,827

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$2,650
1$2,6502$2,6953$2,6954$3,0605$3,150
$3,150
RENT COMPS ANALYSIS
  • 3778 E Chestnut Lane Gilbert, AZ 4
    • 4 beds 4 baths ∙ 3,534 Sqft ∙ Built 2014 4 beds 4 baths ∙ 3,534 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $3,060
    • $0.87
    •  
  • 4458 S Inez Court Gilbert, AZ 1
    • 5 beds 4 baths ∙ 3,566 Sqft ∙ Built 2003 5 beds 4 baths ∙ 3,566 Sqft ∙ Built 2003
    LEASED 08/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.74
    •  
  • 3723 E Latham Court Gilbert, AZ 2
    • 5 beds 3 baths ∙ 3,800 Sqft ∙ Built 2002 5 beds 3 baths ∙ 3,800 Sqft ∙ Built 2002
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.71
    •  
  • 3767 E Fruitvale Avenue Gilbert, AZ 3
    • 5 beds 3 baths ∙ 3,221 Sqft ∙ Built 2003 5 beds 3 baths ∙ 3,221 Sqft ∙ Built 2003
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.84
    •  
  • 3690 E Alfalfa Drive Gilbert, AZ 5
    • 4 beds 3 baths ∙ 3,465 Sqft ∙ Built 2015 4 beds 3 baths ∙ 3,465 Sqft ∙ Built 2015
    LEASED 10/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $0.91
    •  
PROPERTY LISTING DETAILS
Sharon Darrow
Kenneth James Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6191745
Last Updated: 02/11/2021
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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