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3830 E Encinas Avenue Gilbert, AZ 85234

3 Beds 2 Baths 1,655 sqft Built 1996

$388,999

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $235.04
  • 12 Days on Market
  • MLS # : 6152452
  • Updated Date : 11/13/2020 at 12:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,655 sqft
  • Baths : 2 full
Listing Agent

Homesmart Lifestyles

Listing Agent's Description

This centrally located home has been meticulously cared for! It is within walking distance of the school(s) and community parks! Awesome floorplan with many tasteful updates! Walk through the formal living spaces to the upgraded Chefs kitchen, complete with new cabinetry, granite and a GAS stove! You will enjoy an eat in area, family room with Fireplace and a backyard exit to your own private oasis! Pool was installed a couple years ago and has a solar heat for these colder AZ months! The yard is a gardeners dream with gorgeous flowers and many fruit trees with no backyard neighbors! Back inside you will find newer flooring and a huge master suite with an exit from the master bath straight to the Pool! Talk about TURN key- Furnishings also may be available!

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
Carol Rae Ranch Elementary School Primary Regular 594 37 7
Highland Jr High School Middle Regular 1,269 59 8
Highland High School High Regular 3,065 123 8

Carol Rae Ranch Elementary School

  • Education Level: Primary
  • # of students: 594
  • # of teachers: 37
7
GreatSchools Rating

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
 

$350,099$427,899$388,999

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$1,435
Property Tax -$231
Property Insurance -$59
HOA -$14
Property Management Fees -$99
CASH FLOW
-$158

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.

$388,999

PROJECTED PRICE

$1,680

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

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$108,835

INVESTMENT

$108,835

Down Payment
$97,250
Rehab Estimate
$5,750
Closing Costs
$5,835

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,435

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $97,250
Loan Amount $291,749
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$13,973

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,829

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6803$1,7504$1,7505$1,795
$1,795
RENT COMPS ANALYSIS
  • 3830 E Encinas Avenue Gilbert, AZ 2
    • 3 beds 2 baths ∙ 1,655 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,655 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $1.02
    •  
  • 3881 E Douglas Loop Gilbert, AZ 1
    • 4 beds 2 baths ∙ 1,520 Sqft ∙ Built 1997 4 beds 2 baths ∙ 1,520 Sqft ∙ Built 1997
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.09
    •  
  • 3970 E Douglas Loop Gilbert, AZ 3
    • 3 beds 2 baths ∙ 1,655 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,655 Sqft ∙ Built 1996
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.06
    •  
  • 3871 E San Remo Avenue Gilbert, AZ 4
    • 4 beds 2 baths ∙ 1,590 Sqft ∙ Built 1996 4 beds 2 baths ∙ 1,590 Sqft ∙ Built 1996
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.10
    •  
  • 4075 E Orion Street Gilbert, AZ 5
    • 3 beds 2 baths ∙ 1,537 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,537 Sqft ∙ Built 1996
    property image
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.17
    •  
PROPERTY LISTING DETAILS
Terra A. Mccormick
Homesmart Lifestyles
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6152452
Last Updated: 11/13/2020
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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