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4475 E Melrose Street Gilbert, AZ 85297

4 Beds 3 Baths 2,137 sqft Built 2007

$399,900

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 31, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $187.13
  • 4 Days on Market
  • MLS # : 6175751
  • Updated Date : 12/31/2020 at 19:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,137 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty Sonoran Living

Listing Agent's Description

New listing in the Grange in Power Ranch! This home has brand new interior paint, plank wood tile throughout the downstairs, 4 bedrooms 2.5 bath with 2137sqft. Beautiful granite countertops with white cabinets in the kitchen with a walk in pantry and an island with a breakfast bar. Beautiful lush artificial turf in the front yard with a spacious backyard to enjoy. The large master bedroom boasts a beautiful window seat to enjoy your coffee in the morning, spacious walk-in closet and a full bath with double sinks. The 2 car garage comes with built-in cabinets for plenty of storage. This home is caddy corner from one of the many parks. Miles of walking trails, clubhouse, lakes with catch and release fishing, pools, basketball courts, volleyball courts, tennis courts, the Barn for events,

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
Centennial Elementary School Primary Regular 899 45 9
Centennial Elementary School Middle Regular 899 45 9
Higley High School High Regular 1,596 70 7

Centennial Elementary School

  • Education Level: Primary
  • # of students: 899
  • # of teachers: 45
9
GreatSchools Rating

Centennial Elementary School

  • Education Level: Middle
  • # of students: 899
  • # of teachers: 45
9
GreatSchools Rating

Higley High School

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

$359,910$439,890$399,900

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$1,475
Property Tax -$275
Property Insurance -$69
HOA -$29
Property Management Fees -$99
CASH FLOW
-$67

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.

$399,900

PROJECTED PRICE

$1,880

PROJECTED RENT

0.47%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$111,724

INVESTMENT

$111,724

Down Payment
$99,975
Rehab Estimate
$5,750
Closing Costs
$5,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,475

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,975
Loan Amount $299,925
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$21,067

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,859

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7503$1,8504$1,8805$1,975
$1,975
RENT COMPS ANALYSIS
  • 4475 E Melrose Street Gilbert, AZ 4
    • 4 beds 3 baths ∙ 2,137 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,137 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $0.88
    •  
  • 3899 S Cricket Drive Gilbert, AZ 1
    • 4 beds 3 baths ∙ 2,006 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,006 Sqft ∙ Built 2005
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.84
    •  
  • 3864 S Dew Drop Lane Gilbert, AZ 2
    • 4 beds 3 baths ∙ 2,163 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,163 Sqft ∙ Built 2005
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.81
    •  
  • 3898 S Cricket Drive Gilbert, AZ 3
    • 4 beds 3 baths ∙ 2,006 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,006 Sqft ∙ Built 2006
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.92
    •  
  • 3532 S Bluejay Drive Gilbert, AZ 5
    • 3 beds 3 baths ∙ 2,182 Sqft ∙ Built 2011 3 beds 3 baths ∙ 2,182 Sqft ∙ Built 2011
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.91
    •  
PROPERTY LISTING DETAILS
John A Sposato
Keller Williams Realty Sonoran Living
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6175751
Last Updated: 12/31/2020
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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