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4058 E Erie Street #102 Gilbert, AZ 85295

3 Beds 2 Baths 1,308 sqft Built 2018

$325,000

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $248.47
  • 3 Days on Market
  • MLS # : 6178800
  • Updated Date : 01/08/2021 at 22:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,308 sqft
  • Baths : 2 full
Listing Agent

Opendoor Brokerage, Llc

Listing Agent's Description

Built in 2018, this Gilbert two-story home offers quartz countertops, and a two-car garage. This home is vacant and cleaned regularly.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Willows

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Willows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8521981

* 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
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$1,129
Property Tax -$222
Property Insurance -$53
HOA -$157
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.

$325,000

PROJECTED PRICE

$1,560

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.4%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$9,361

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $1.19

    LIST RENT PER SQFT
  • $1,386

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5453$1,5604$1,6005$1,650
$1,650
RENT COMPS ANALYSIS
  • 4058 E Erie Street #102 Gilbert, AZ 3
    • 3 beds 2 baths ∙ 1,308 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,308 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $1.19
    •  
  • 4116 E Tyson Street Gilbert, AZ 1
    • 3 beds 3 baths ∙ 1,464 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,464 Sqft ∙ Built 2008
    property image
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.02
    •  
  • 2224 S Buckaroo Trail Gilbert, AZ 2
    • 3 beds 3 baths ∙ 1,488 Sqft ∙ Built 2012 3 beds 3 baths ∙ 1,488 Sqft ∙ Built 2012
    property image
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $1.04
    •  
  • 4073 E Tulsa Street Gilbert, AZ 4
    • 3 beds 3 baths ∙ 1,486 Sqft ∙ Built 2011 3 beds 3 baths ∙ 1,486 Sqft ∙ Built 2011
    property image
    LEASED 11/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.08
    •  
  • 4059 E Oakland Street Gilbert, AZ 5
    • 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 2009 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 2009
    property image
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.10
    •  
PROPERTY LISTING DETAILS
Lisa Soltesz
Opendoor Brokerage, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6178800
Last Updated: 01/08/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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