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$700,000

Sold
1381 N Alexis Dr, Gilbert, AZ 85234
5 Beds
3 Baths
3,275 Square Feet
0.17 Acres Lot
Built in 1995
Sold
Units n/a
Checked: 10 hours ago
Updated: Jul 31, 2025 at 05:49AM

Investment Summary


Monthly Cash Flow
-$1,342
Cap Rate
3.4%
Cash-on-Cash Return
-10.0%
Debt Coverage Ratio
0.59
Internal Rate of Return (5 years)
-5.7%

Property Description


0.17 Acres Lot
Built in 1995
Sold
Units n/a

Step inside this move-in-ready, beautifully tastefully updated home and fall in love with its dramatic 2 story entry, split-stair layout design creating a sense of openness and connection between rooms. Embrace the tranquility of your private east-facing backyard oasis after a long day, including cedar patio with dual ceiling fans, green lawn, RV gate and pool. Perfect place for summer barbecues with friends and family. Conveniently located, this home offers the ideal blend of suburban living and urban accessibility. Showcasing an updated kitchen with recessed lighting, granite countertops, center island, SS sink and appliances, RO system, and adjoining dining and family rooms, make it ideal for gatherings. 5th bonus room on main level provides additional living space that can be used as an office or recreation area. Second floor boasts an open hallway, 3 bedrooms with walk-in closets, bright open loft area overlooking the main entryway and formal living room, spacious primary bedroom with vaulted ceilings, updated vanity tops and tub, new faucets, new shower and expansive walk-in closet. With space for everyone, this home has everything you need to make memories that will last a lifetime. New Overson Roof in 2025 with transferable warranty, new carpet 2025, newer - dual Carrier Air Conditioners, hot water heater, whole-house soft water system, kitchen appliances, pool motor and sand filter with LED lighting. Tree lined neighborhood with seasonal social events and no thru traffic. Don't miss the chance to make this remarkable property your dream home.

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Location


Property Details


Parking

  • Description: Covered, Garage
  • Garage Spaces: 2
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 5

Bathroom Information

  • # of Baths (Total): 3.0

Interior Features

  • # of Stories: 2
  • Fireplace: Yes

Exterior Features

  • Exterior Walls Materials: Wood
  • Roof Material: Tile
  • Pool: Yes

HOA

  • Has HOA: Yes
  • Association: SUPERSTITION MEADOWS
  • HOA Fee: $460/annually

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 30905095
  • Lot Size: 7301 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Contemporary
  • Year Built: 1995

Tax Information

  • Annual Tax: $2,388

Utilities

  • Water & Sewer: Public
  • Heating: Electric
  • Cooling: Central Air

Location

  • County: Maricopa

Listing Details


Listed by:
Kristy N DeWitz
My Home Group Real Estate
(480) 773-4779

Source:
Arizona Regional Multiple Listing Service (ARMLS)
MLS#: 6857287
Arizona Regional Multiple Listing Service (ARMLS)

Investment Summary


Monthly Cash Flow
-$1,342
Cap Rate
3.4%
Cash-on-Cash Return
-10.0%
Debt Coverage Ratio
0.59
Internal Rate of Return (5 years)
-5.7%

Purchase Details

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Purchase price:
$700,000
Amount financed:
-$560,000
Down payment:
$140,000
Closing costs:
$21,000
Rehab costs:
$0
Initial cash invested:
$161,000
Square feet:
3,275
Cost per square foot:
$214
Monthly rent per square foot:
$0.98

Financing Details

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Loan amount:
$560,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$3,313
Property tax:
$199
Insurance:
$224
Private mortgage insurance (PMI):
$0
Monthly payment:
$3,736

Operating Income

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% Rent Monthly Yearly
Gross rent:
$3,200 $38,400
Vacancy loss: (6%)
6% -$192 -$2,304
Operating income:
$3,008 $36,096

Operating Expenses


% Rent Monthly Yearly
Property taxes: (6%)
6%-$199-$2,388
Insurance: (7%)
7%-$224-$2,688
Property management: (8%)
8%-$256-$3,072
Repairs & maintenance: (5%)
5%-$160-$1,920
Capital expenditures: (5%)
5%-$160-$1,920
HOA fees: (1%)
1%-$38-$456
Total operating expenses: (32%)
32%-$1,037-$12,444

Cash Flow


Monthly Yearly
Net operating income:
$1,971 $23,652
Mortgage payments:
-$3,313 -$39,756
Cash flow:
$1,342 $16,104