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4031 E Patrick Court Gilbert, AZ 85295

4 Beds 3 Baths 2,735 sqft Built 2002

$525,000

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $191.96
  • 2 Days on Market
  • MLS # : 6160736
  • Updated Date : 11/14/2020 at 22:28
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,735 sqft
  • Baths : 3 full
Listing Agent

West Usa Realty

Listing Agent's Description

This open floor plan with large windows, brings in a lot of natural sunlight. The kitchen has tons of cabinets, with 2 pantries and additional cabinets in the laundry for extra storage. Great room concept makes for a great space to entertain with formal dining, eat in kitchen and breakfast bar. Master bedroom has a retreat area with an additional walk in closet. Guest bedroom has private bath that is the perfect set up for out of town guests or an extended family suite. This home is in a low traffic cul-de-sac with no across the street neighbors and single story homes surrounding, so the back yard and pool are very private. 3 car garage with built in cabinets helps with organization. SELLER NEEDS A 1 YEAR LEASE BACK AT CLOSE OF ESCROW.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Ashley Heights

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Ashley Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9881981

* 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
Gateway Pointe Elementary School Primary Regular 755 36 7
Gateway Pointe Elementary School Middle Regular 755 36 7
Williams Field High School High Regular 1,705 64 7

Gateway Pointe Elementary School

  • Education Level: Primary
  • # of students: 755
  • # of teachers: 36
7
GreatSchools Rating

Gateway Pointe Elementary School

  • Education Level: Middle
  • # of students: 755
  • # of teachers: 36
7
GreatSchools Rating

Williams Field High School

  • Education Level: High
  • # of students: 1,705
  • # of teachers: 64
7
GreatSchools Rating
 

$472,500$577,500$525,000

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,937
Property Tax -$358
Property Insurance -$80
HOA -$17
Property Management Fees -$99
CASH FLOW
-$492

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.

$525,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.1%
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

PROJECTED ANNUAL CASH FLOW

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

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$144,875

INVESTMENT

$144,875

Down Payment
$131,250
Rehab Estimate
$5,750
Closing Costs
$7,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,937

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $131,250
Loan Amount $393,750
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$3,648

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $2,044

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9003$1,9504$2,0005$2,300
$2,300
RENT COMPS ANALYSIS
  • 4031 E Patrick Court Gilbert, AZ 4
    • 4 beds 3 baths ∙ 2,735 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,735 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.73
    •  
  • 4307 E Pony Lane Gilbert, AZ 1
    • 4 beds 3 baths ∙ 2,646 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,646 Sqft ∙ Built 2015
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.72
    •  
  • 1568 S Hawk Court Gilbert, AZ 2
    • 4 beds 3 baths ∙ 2,543 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,543 Sqft ∙ Built 2002
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.75
    •  
  • 4165 E Pony Lane Gilbert, AZ 3
    • 4 beds 3 baths ∙ 2,671 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,671 Sqft ∙ Built 2015
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.73
    •  
  • 3457 E Orchid Lane Gilbert, AZ 5
    • 4 beds 3 baths ∙ 2,909 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,909 Sqft ∙ Built 2010
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.79
    •  
PROPERTY LISTING DETAILS
Annice Parker North
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6160736
Last Updated: 11/14/2020
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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