2350 E Melrose StGilbertAZ85297
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Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Rental property for sale in Gilbert at 2350 E Melrose St, Gilbert, AZ, 85297 generates $4,656/mo in rent, after a $6,118/mo payment. Total monthly income is $4,656/mo. Return on cash invested sits at 12.27% in year one, and rental yield is 4.47% on a $1,250,000 entry. Equity gained on principal adds $8,066/yr, while 5% annual appreciation builds toward $345,352 over five years. Five-year ROI reaches 61.43% and total cumulative return in cash sums $248,785. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $4,656/mo property income rather than buyer’s personal income.
Single Family
Built in 1975
1.01 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 85297, Gilbert, AZ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,268 (100%) |
| Owner Occupied HU | 9,450 (71.2%) |
| Renter Occupied HU | 3,195 (24.1%) |
| Vacant Housing Units | 623 ( 4.7%) |
| Median Home Value | $600,496 |
| Average Home Value | $657,694 |
Housing Distribution
Address Breakdown
Residential
12,953
Single Family
9,684
Multi-Family
3,269
Businesses
557
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Listed by: William Doyle • Visionary Properties
Mls Name: ARMLS
Mls Provider:
Mls ID: #6857681
Disclaimer: All information should be verified by the recipient and none is guaranteed as accurate by ARMLS Listing Information presented by local MLS brokerage: Zillow, Inc., Designated REALTOR- Chris Long - (480) 907-1010