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4048 S Mcminn Drive Gilbert, AZ 85297

4 Beds 2 Baths 2,027 sqft Built 2015

$490,000

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $241.74
  • 4 Days on Market
  • MLS # : 6186728
  • Updated Date : 01/30/2021 at 17:31
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,027 sqft
  • Baths : 2 full
Listing Agent

Realty One Group

Listing Agent's Description

4 bedrooms and 2 bathrooms energy star certified house with upgraded insulation package.New paint and professionally cleaned ready to move in houseLots of artificial turf all around the houseVery low maintenance.Large playset for kids.Upgraded carpets.Garage custom cabinets, Garage door insulation, epoxy flooring (man cave).Nest thermostat. Wifi sprinklersSecurity motion lights outdoor.Great neighborhood in a fast growing Gilbert area. Easy access to freeway.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Gilbert

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Gilbert

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10361987

* 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
Payne Junior High School Middle Regular 1,518 70 9
Perry High School High Regular 3,194 142 7
Perry High School High Unknown NA

Payne Junior High School

  • Education Level: Middle
  • # of students: 1,518
  • # of teachers: 70
9
GreatSchools Rating

Perry High School

  • Education Level: High
  • # of students: 3,194
  • # of teachers: 142
7
GreatSchools Rating

Perry High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$441,000$539,000$490,000

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$1,702
Property Tax -$354
Property Insurance -$67
HOA -$95
Property Management Fees -$99
CASH FLOW
-$387

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.

$490,000

PROJECTED PRICE

$1,930

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.0%
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-$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$135,600

INVESTMENT

$135,600

Down Payment
$122,500
Rehab Estimate
$5,750
Closing Costs
$7,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,702

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $122,500
Loan Amount $367,500
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$3,604

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,930

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $2,047

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8903$1,9304$1,9505$2,225
$2,225
RENT COMPS ANALYSIS
  • 4048 S Mcminn Drive Gilbert, AZ 3
    • 4 beds 2 baths ∙ 2,027 Sqft ∙ Built 2015 4 beds 2 baths ∙ 2,027 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $0.95
    •  
  • 1421 E Goldcrest Street Gilbert, AZ 1
    • 3 beds 2 baths ∙ 1,906 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,906 Sqft ∙ Built 2011
    LEASED 04/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.97
    •  
  • 1389 E Arrowhead Trail Gilbert, AZ 2
    • 4 beds 2 baths ∙ 1,888 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,888 Sqft ∙ Built 2004
    LEASED 12/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $1.00
    •  
  • 845 E Doral Court Gilbert, AZ 4
    • 3 beds 2 baths ∙ 1,885 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,885 Sqft ∙ Built 2008
    LEASED 12/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.03
    •  
  • 2395 S Whetstone Place Chandler, AZ 5
    • 3 beds 2 baths ∙ 2,149 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,149 Sqft ∙ Built 2003
    LEASED 01/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,225
    • $1.04
    •  
PROPERTY LISTING DETAILS
Zoran Gajanovic
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6186728
Last Updated: 01/30/2021
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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