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4251 E Carriage Way Gilbert, AZ 85297

5 Beds 4 Baths 3,610 sqft Built 2003

$565,000

List Price

$2,450

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $156.51
  • 3 Days on Market
  • MLS # : 6187294
  • Updated Date : 01/29/2021 at 17:19
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,610 sqft
  • Baths : 3 full , 1 half
Listing Agent

Maclay Real Estate

Listing Agent's Description

investor buyers only - this house is currently lease for $2750per month and leased til aug 31, 2021 to excellent tenants.. Absolutely Beautiful Two Story Home Located in The Award Winning Community of Power Ranch. This Home Features a Grand Entry with High Vaulted Ceilings, Beautiful Kitchen Open to Family Room with Stone Fireplace. 5 Bedrms, PLUS Den/Office PLUS Loft! 2 Jack & Jill Baths upstairs. Walkout Balcony upstairs with Mountain & Golf Course VIEWS. Backyard Boasts a Large Covered Patio, Grass and Desert landscaping. Winning Community with Walking/Biking Trails, 2 Lakes, 2 pools, 2 Clubhouses, Tennis, Basketball, Sand Volleyball Courts, Tot-Lots throughout Neighborhoods.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Power Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Power Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9591981

* 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
Sossaman Middle School Middle Unknown 901 44 NA
Higley High School High Regular 1,596 70 7

Sossaman Middle School

  • Education Level: Middle
  • # of students: 901
  • # of teachers: 44
NA
GreatSchools Rating

Higley High School

  • Education Level: High
  • # of students: 1,596
  • # of teachers: 70
7
GreatSchools Rating
 

$508,500$621,500$565,000

PURCHASE PRICE

$2,205$2,695$2,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,450
EXPENSES Loan Payment -$1,962
Property Tax -$388
Property Insurance -$98
HOA -$29
Property Management Fees -$99
CASH FLOW
-$126

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.

$565,000

PROJECTED PRICE

$2,450

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.9%
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$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$155,475

INVESTMENT

$155,475

Down Payment
$141,250
Rehab Estimate
$5,750
Closing Costs
$8,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,962

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $141,250
Loan Amount $423,750
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$21,422

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,450

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $2,599

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,6503$2,6954$2,6995$2,700
$2,700
RENT COMPS ANALYSIS
  • 4251 E Carriage Way Gilbert, AZ 1
    • 5 beds 4 baths ∙ 3,610 Sqft ∙ Built 2003 5 beds 4 baths ∙ 3,610 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.68
    •  
  • 4458 S Inez Court Gilbert, AZ 2
    • 5 beds 4 baths ∙ 3,566 Sqft ∙ Built 2003 5 beds 4 baths ∙ 3,566 Sqft ∙ Built 2003
    LEASED 08/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.74
    •  
  • 3723 E Latham Court Gilbert, AZ 3
    • 5 beds 3 baths ∙ 3,800 Sqft ∙ Built 2002 5 beds 3 baths ∙ 3,800 Sqft ∙ Built 2002
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.71
    •  
  • 18560 E Strawberry Drive Queen Creek, AZ 4
    • 5 beds 3 baths ∙ 3,800 Sqft ∙ Built 2005 5 beds 3 baths ∙ 3,800 Sqft ∙ Built 2005
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,699
    • $0.71
    •  
  • 18546 E Sawgrass Trail Queen Creek, AZ 5
    • 5 beds 4 baths ∙ 3,745 Sqft ∙ Built 2004 5 beds 4 baths ∙ 3,745 Sqft ∙ Built 2004
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.72
    •  
PROPERTY LISTING DETAILS
Bradley Maclay
Maclay Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6187294
Last Updated: 01/29/2021
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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