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3970 E Olive Avenue Gilbert, AZ 85234

3 Beds 2 Baths 1,273 sqft Built 1998

INVESTimate

$305,000

List Price

$1,400

$1,260 - $1,540

Rent Est.

$323,697  ( +6.13%)   1 YR EST. FORECAST

PROPERTY INFO

August 26, 2020 RECENTLY ADDED
FACTS
  • Built In 1998
  • Price/Sqft : $239.59
  • 1 Days on Market
  • MLS # : 6122168
  • Updated Date : 08/26/2020 at 02:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,273 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

Very open and bright single story home w/ 3 bed & 2 bath, located in Gilbert near parks, schools, walking paths and stores. Close to the 60 and 202. Open Floor plan w/ eat in kitchen, breakfast bar and vaulted ceilings. Low maintenance front yard and a nice sized back yard with grass and covered patio. N/S facing, BRAND NEW AC unit. Good sized master bedroom w/ master bathroom and double sinks and walk in closet.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: El Dorado at the Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: El Dorado at the Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9561981

* 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 Park Elementary School Primary Regular 907 48 9
Highland Park Elementary School Middle Regular 907 48 9
Highland High School High Regular 3,065 123 8

Highland Park Elementary School

  • Education Level: Primary
  • # of students: 907
  • # of teachers: 48
9
GreatSchools Rating

Highland Park Elementary School

  • Education Level: Middle
  • # of students: 907
  • # of teachers: 48
9
GreatSchools Rating

Highland High School

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

$274,500$335,500$305,000

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$1,125
Property Tax -$181
Property Insurance -$52
HOA -$42
Property Management Fees -$99
CASH FLOW
-$99

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.

$305,000

PROJECTED PRICE

$1,400

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.13%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$86,575

INVESTMENT

$86,575

Down Payment
$76,250
Rehab Estimate
$5,750
Closing Costs
$4,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,125

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $76,250
Loan Amount $228,750
See What Happens When You Reinvest Cash Flow

3.75

YEARS SAVED

$12,444

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,470

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,4953$1,5504$1,5955$1,595
$1,595
RENT COMPS ANALYSIS
  • 3970 E Olive Avenue Gilbert, 1
    • 3 beds 2 baths ∙ 1,273 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,273 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3971 E Redfield Court Gilbert, 2
    • 3 beds 2 baths ∙ 1,273 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,273 Sqft ∙ Built 1997
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.17
    •  
  • 3547 E Cullumber Court Gilbert, 3
    • 3 beds 2 baths ∙ 1,359 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,359 Sqft ∙ Built 1999
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.14
    •  
  • 3976 E Douglas Loop Gilbert, 4
    • 3 beds 2 baths ∙ 1,401 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,401 Sqft ∙ Built 1996
    property image
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.14
    •  
  • 3775 E Park Avenue Gilbert, 5
    • 3 beds 2 baths ∙ 1,359 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,359 Sqft ∙ Built 2000
    property image
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.17
    •  
PROPERTY LISTING DETAILS
Nona Smith
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6122168
Last Updated: 08/26/2020
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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