2957 E Melrose StGilbertAZ85297
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Investment property for sale in Gilbert at 2957 E Melrose St, Gilbert, AZ, 85297 listed at $660,000 pairs $3,344/mo rent with a $3,230/mo payment. Total monthly income runs $3,344/mo. Return on cash invested measures 16.48% in year one, and rental yield registers 6.08% at a $660,000 basis. Equity gained on principal adds $4,259/yr, and annual property appreciation at 5% supports $182,346 by year five. Five-year ROI tracks 84.22% and total cumulative return in cash totals $182,877. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $3,344/mo property income relative to a $3,230/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Single Family
Built in 2009
8,316 sqft lot
$N/A/sqft
$275 quarterly 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: Ashley DeWitt • HomeSmart
Mls Name: ARMLS
Mls Provider:
Mls ID: #6867602
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