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4553 E Olney Avenue Gilbert, AZ 85234

4 Beds 2 Baths 2,042 sqft Built 1999

$449,900

List Price

$1,780

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $220.32
  • 4 Days on Market
  • MLS # : 6174293
  • Updated Date : 12/26/2020 at 11:33
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,042 sqft
  • Baths : 2 full
Listing Agent

Conway Real Estate

Listing Agent's Description

Fantastic 4 bedroom, 2 bath home in the heart of Gilbert. Private backyard with no surrounding 2 story homes. Beautiful custom salt water pebble tech pool oasis that is perfect for friends and family gatherings. Cozy gas firepit in backyard as well. Pull out cabinet organizers in kitchen, including a built in pull out trash/recycle bin. New paint inside of home. A/C unit is less than a year old. New pentair pool pump and color changing light installed 2020. Titan security door installed 2020. Garage has a service door leading outside as well. New light fixtures inside and outside. Close to schools, freeways and shopping. Schedule a showing before its gone! Professional photos will be added on 12/26/2020

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Highland Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $109k345k

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

Neighborhood: Highland Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10181891

* 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
Towne Meadows Elementary School Primary Regular 634 33 9
Towne Meadows Elementary School Middle Regular 634 33 9
Highland High School High Regular 3,065 123 8

Towne Meadows Elementary School

  • Education Level: Primary
  • # of students: 634
  • # of teachers: 33
9
GreatSchools Rating

Towne Meadows Elementary School

  • Education Level: Middle
  • # of students: 634
  • # of teachers: 33
9
GreatSchools Rating

Highland High School

  • Education Level: High
  • # of students: 3,065
  • # of teachers: 123
8
GreatSchools Rating
 

$404,910$494,890$449,900

PURCHASE PRICE

$1,602$1,958$1,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,780
EXPENSES Loan Payment -$1,660
Property Tax -$267
Property Insurance -$67
HOA -$60
Property Management Fees -$99
CASH FLOW
-$373

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$449,900

PROJECTED PRICE

$1,780

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
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-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$124,974

INVESTMENT

$124,974

Down Payment
$112,475
Rehab Estimate
$5,750
Closing Costs
$6,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,475
Loan Amount $337,425
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$5,756

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,780

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,777

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,7803$1,8244$1,8505$1,850
$1,850
RENT COMPS ANALYSIS
  • 4553 E Olney Avenue Gilbert, AZ 2
    • 4 beds 2 baths ∙ 2,042 Sqft ∙ Built 1999 4 beds 2 baths ∙ 2,042 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $0.87
    •  
  • 4734 E Olney Avenue Gilbert, AZ 1
    • 4 beds 3 baths ∙ 1,913 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,913 Sqft ∙ Built 2005
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.83
    •  
  • 554 N Citrus Lane Gilbert, AZ 3
    • 4 beds 3 baths ∙ 1,913 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,913 Sqft ∙ Built 2006
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,824
    • $0.95
    •  
  • 4357 E Vaughn Avenue Gilbert, AZ 4
    • 3 beds 3 baths ∙ 2,147 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,147 Sqft ∙ Built 2006
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.86
    •  
  • 4378 E Foundation Street Gilbert, AZ 5
    • 4 beds 3 baths ∙ 2,195 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,195 Sqft ∙ Built 2006
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.84
    •  
PROPERTY LISTING DETAILS
Lisa K Woodard
Conway Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6174293
Last Updated: 12/26/2020
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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