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4700 E Cloudburst Drive Gilbert, AZ 85297

4 Beds 3 Baths 2,478 sqft Built 2004

$450,000

List Price

$2,060

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $181.60
  • 3 Days on Market
  • MLS # : 6182714
  • Updated Date : 01/23/2021 at 03:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,478 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty Sonoran

Listing Agent's Description

If you're in the habit of making great decisions, here's an easy one for you: Buy this home while it lasts! This Spacious, Corner Lot, 4+ Bedroom Home with Soaring 20' Ceilings and Clerestory Windows in the Great Room, offers more than you can imagine. BRAND NEW Washer, Dryer, Dishwasher AND Water Softener! The downstairs Bonus Room easily lends itself as a 5th Bedroom, or your own ''work from home'' Private Office. Beautiful Arched Cherrywood Cabinetry in the Kitchen, Stainless Steel Refrigerator, Kitchen Island/Bar, Walk-In Pantry, Built-In Desk in the Upstairs Loft, Andersen Windows, and a classy Alder Wood and Wrought-Iron Stair Rail! Situated directly across from Orchard Park, in the desirable Power Ranch, adjacent to a green belt, and with accessibility to Biking Trails...

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
Power Ranch Elementary School Primary Regular 713 34 10
Power Ranch Elementary School Middle Regular 713 34 10
Higley High School High Regular 1,596 70 7

Power Ranch Elementary School

  • Education Level: Primary
  • # of students: 713
  • # of teachers: 34
10
GreatSchools Rating

Power Ranch Elementary School

  • Education Level: Middle
  • # of students: 713
  • # of teachers: 34
10
GreatSchools Rating

Higley High School

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

$405,000$495,000$450,000

PURCHASE PRICE

$1,854$2,266$2,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,060
EXPENSES Loan Payment -$1,563
Property Tax -$309
Property Insurance -$75
HOA -$29
Property Management Fees -$99
CASH FLOW
-$15

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.

$450,000

PROJECTED PRICE

$2,060

PROJECTED RENT

0.46%

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

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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,563

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$23,563

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,060

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,255

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$2,060
1$2,0602$2,1753$2,2004$2,4505$2,500
$2,500
RENT COMPS ANALYSIS
  • 4700 E Cloudburst Drive Gilbert, AZ 1
    • 4 beds 3 baths ∙ 2,478 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,478 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,060
    • $0.83
    •  
  • 18974 E Lark Drive Queen Creek, AZ 2
    • 4 beds 3 baths ∙ 2,545 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,545 Sqft ∙ Built 2006
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $0.85
    •  
  • 4255 E Cloudburst Court Gilbert, AZ 3
    • 5 beds 3 baths ∙ 2,520 Sqft ∙ Built 2002 5 beds 3 baths ∙ 2,520 Sqft ∙ Built 2002
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.87
    •  
  • 18898 E Kingbird Drive Queen Creek, AZ 4
    • 5 beds 3 baths ∙ 2,545 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,545 Sqft ∙ Built 2005
    LEASED 01/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.96
    •  
  • 18866 E Cardinal Way Queen Creek, AZ 5
    • 4 beds 2 baths ∙ 2,592 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,592 Sqft ∙ Built 2006
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.96
    •  
PROPERTY LISTING DETAILS
Michael A Castaneda
Keller Williams Realty Sonoran
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6182714
Last Updated: 01/23/2021
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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