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4064 S Mcminn Drive Gilbert, AZ 85297

4 Beds 3 Baths 3,444 sqft Built 2014

$534,900

List Price

$2,530

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $155.31
  • 3 Days on Market
  • MLS # : 6165215
  • Updated Date : 11/27/2020 at 09:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,444 sqft
  • Baths : 2 full , 1 half
Listing Agent

Offerpad

Listing Agent's Description

VACANT! Welcome Home to this beautiful 4 Bedrooms, 2.5 bath, 3 car garage home!! Entry of the home has tall ceiling with views of the Large loft upstairs, laundry upstairs for convenience! Formal living room, Formal dining room. Balcony off of master bedroom and 2 master closets. Artificial turf in backyard with waterfall feature! NEW Paint, NEW Carpet. Ceiling fans throughout. Don't miss this one!

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
Weinberg Elementary School Primary Regular 846 42 8
Payne Junior High School Middle Regular 1,518 70 9
Perry High School High Regular 3,194 142 7

Weinberg Elementary School

  • Education Level: Primary
  • # of students: 846
  • # of teachers: 42
8
GreatSchools Rating

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
 

$481,410$588,390$534,900

PURCHASE PRICE

$2,277$2,783$2,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,530
EXPENSES Loan Payment -$1,974
Property Tax -$386
Property Insurance -$94
HOA -$86
Property Management Fees -$99
CASH FLOW
-$109

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.

$534,900

PROJECTED PRICE

$2,530

PROJECTED RENT

0.47%

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$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

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$147,499

INVESTMENT

$147,499

Down Payment
$133,725
Rehab Estimate
$5,750
Closing Costs
$8,024

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,974

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $133,725
Loan Amount $401,175
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$25,386

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,530

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $2,893

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,395
1$2,3952$2,5303$2,8004$2,8995$2,900
$2,900
RENT COMPS ANALYSIS
  • 4064 S Mcminn Drive Gilbert, AZ 2
    • 4 beds 3 baths ∙ 3,444 Sqft ∙ Built 2014 4 beds 3 baths ∙ 3,444 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $2,530
    • $0.73
    •  
  • 4598 S Burma Road Gilbert, AZ 1
    • 5 beds 4 baths ∙ 3,189 Sqft ∙ Built 2007 5 beds 4 baths ∙ 3,189 Sqft ∙ Built 2007
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.75
    •  
  • 4246 S Summit Street Gilbert, AZ 3
    • 4 beds 3 baths ∙ 3,310 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,310 Sqft ∙ Built 2005
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.85
    •  
  • 1448 E Birdland Drive Gilbert, AZ 4
    • 5 beds 3 baths ∙ 3,511 Sqft ∙ Built 2005 5 beds 3 baths ∙ 3,511 Sqft ∙ Built 2005
    LEASED 08/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,899
    • $0.83
    •  
  • 4494 S Cobblestone Street Gilbert, AZ 5
    • 5 beds 3 baths ∙ 3,112 Sqft ∙ Built 2005 5 beds 3 baths ∙ 3,112 Sqft ∙ Built 2005
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.93
    •  
PROPERTY LISTING DETAILS
Derek Dickson
Offerpad
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6165215
Last Updated: 11/27/2020
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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