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4304 E Megan Street Gilbert, AZ 85295

4 Beds 3 Baths 2,127 sqft Built 2001

$395,900

List Price

$1,980

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $186.13
  • 2 Days on Market
  • MLS # : 6187828
  • Updated Date : 01/30/2021 at 19:18
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,127 sqft
  • Baths : 3 full
Listing Agent

Rush & Associates Realty

Listing Agent's Description

Great location, one owner home. Close to 202, great schools & shopping. One bedroom downstairs with full bathroom. Flex space in the entry for living room/dining room, game room, home school space or office space. The large family room and open kitchen with eat in area are steps away from your spacious back yard with pool and covered patio. No neighbors behind you and one story both next to you. Private and quiet neighborhood. Upstairs has another small area for a kids desk storage. Two bedrooms with south patio bright windows and the master bedroom is huge! This home is a blank slate to make your own. Start to enjoy this North patio home with pool and no neighbors behind you!Exterior painted 2018 & gently lived in.

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
Cooley Middle School Middle Unknown 915 39 NA
Williams Field High School High Regular 1,705 64 7

Cooley Middle School

  • Education Level: Middle
  • # of students: 915
  • # of teachers: 39
NA
GreatSchools Rating

Williams Field High School

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

$356,310$435,490$395,900

PURCHASE PRICE

$1,782$2,178$1,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,980
EXPENSES Loan Payment -$1,375
Property Tax -$270
Property Insurance -$69
HOA -$19
Property Management Fees -$99
CASH FLOW
$148

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.

$395,900

PROJECTED PRICE

$1,980

PROJECTED RENT

0.50%

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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$110,664

INVESTMENT

$110,664

Down Payment
$98,975
Rehab Estimate
$5,750
Closing Costs
$5,939

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,375

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $98,975
Loan Amount $296,925
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$35,385

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,980

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,122

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,980
1$1,9802$1,9953$2,0454$2,2005$2,215
$2,215
RENT COMPS ANALYSIS
  • 4304 E Megan Street Gilbert, AZ 1
    • 4 beds 3 baths ∙ 2,127 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,127 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $0.93
    •  
  • 1464 S Heron Lane Gilbert, AZ 2
    • 3 beds 3 baths ∙ 2,090 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,090 Sqft ∙ Built 2002
    LEASED 01/30/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.95
    •  
  • 4108 E Dublin Street Gilbert, AZ 3
    • 4 beds 2 baths ∙ 2,084 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,084 Sqft ∙ Built 2003
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,045
    • $0.98
    •  
  • 4340 E Megan Street Gilbert, AZ 4
    • 4 beds 3 baths ∙ 2,127 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,127 Sqft ∙ Built 2001
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.03
    •  
  • 4565 E Ivanhoe Street Gilbert, AZ 5
    • 4 beds 3 baths ∙ 2,159 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,159 Sqft ∙ Built 2004
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,215
    • $1.03
    •  
PROPERTY LISTING DETAILS
Melissa Rush
Rush & Associates Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6187828
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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