3238 E Ridgewood Ln · Gilbert, AZ 85298

$525,000

4 bd · 4.0 ba · 2,178 sqft · SingleFamily public records · 226 Days on market

Built 2009 3,374 sqft lot $241/sqft · at area comps Est $518k · at est. $103/mo HOA · 3% of rent

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Why this score? — see what drove the D- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Appreciation +9.2/10.0
• ARV discount +6.9/15.0
• Cash flow +6.8/30.0
• Schools +4.8/10.0
• Livability +4.4/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• DSCR +1.0/10.0
• 1% rule +0.8/10.0

Listing remarks MLS

Fall in love with this gorgeous 2-story gem featuring a 2-car garage and all the right touches! Entertain in the inviting living room wired for surround sound—movie nights just got an upgrade! Enjoy tile floors, a neutral palette, and a kitchen that shines with wood cabinetry, SS appliances, ample counters, and a center island with a breakfast bar perfect for morning chats. Loft is ready for your creativity and can be utilized as a media room, home gym, or cozy reading nook, your choice! Main bedroom promises relaxation with dual sinks, a soaking tub, and a walk-in closet. Outside, unwind in the cozy backyard under the covered patio while sipping your favorite drink. And with community perks like a pool, fitness center, golf course, and more, you'll never want to leave! Don't miss it!

Key facts

• 2 story gem
• Tile floors
• Inviting living room

Tags

• 2 STORY GEM
• INVITING LIVING ROOM
• TILE FLOORS
• WOOD CABINETRY
• SS APPLIANCES
• CENTER ISLAND

What this means for you Summary

Snapshot

• This is a 4-bed/4.0-bath single-family listed at $525k.

Deal economics

• At list price, monthly cash flow is $-824 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $379k (27.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $307k (41.5% below list).
• Recommended offer: $307k (41.5% below list) — sets the bar for 1% rule.
• Cap rate 4.4% vs local median 3.2% in Gilbert — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 87/100 on livability (#1 in AZ, #240 nationally) — a professional / high-income tenant draw. Strengths: schools A+, amenities A+, employment A+; Watch: health & safety C-, cost of living F.
• Chandler Unified District #80 (4242) (suburban): math 49% / reading 57% proficiency, ranked #31 of 249 in AZ (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+4.3%/yr); 329 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 36,011 units permitted in Maricopa County in 2024 (12,801 in 5+ unit buildings).

Forward outlook

• In year one you build about $48k of equity ($4k loan paydown + $44k appreciation (8.4% local appreciation)).
• Maricopa County population projected at +38% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$76k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 226 days — a 12% lower offer ($462k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 12y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $265k; list at $525k implies a 98% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $307,073 (41.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 226 days. Have you received any prior offers? Is the seller open to a 42% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.58% ✗
• Cap rate: 4.41%
• Cash-on-cash: -6.73%
• DSCR: 0.70
• GRM: 14.2

CMA / ARV

• ARV (median comp): $517,551
• List price: $525,000
• Delta: 1.44%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3295 E Castanets Dr	0.17mi	4/2.0	2,064 (-5%)	4mo	$560,000	$271	72
3274 E Isaiah Ct	0.20mi	4/3.0	2,410 (+11%)	1mo	$710,000	$295	68
3319 E Fandango Dr	0.29mi	3/2.5 (-1)	2,290 (+5%)	3mo	$589,000	$257	64
3006 E Muirfield St	0.49mi	4/2.0	2,081 (-4%)	1mo	$500,000	$240	61
7020 S Banning St	0.63mi	4/2.0	2,171 (-0%)	3mo	$620,000	$286	60
2970 E Andre Ave	0.67mi	4/2.0	2,171 (-0%)	1mo	$470,000	$216	59
2925 E Andre Ave	0.73mi	5/3.0 (+1)	2,171 (-0%)	1mo	$405,000	$187	56
2882 E Citadel Ct	0.44mi	3/2.5 (-1)	2,368 (+9%)	2mo	$649,000	$274	52
2935 E Lynx Way	0.55mi	4/2.0	2,348 (+8%)	4mo	$699,900	$298	50
3686 E Powell Way	0.69mi	3/2.0 (-1)	2,129 (-2%)	3mo	$699,000	$328	49
6219 S Banning St	0.46mi	5/2.5 (+1)	2,446 (+12%)	3mo	$675,000	$276	45
3700 E Vallejo Dr	0.75mi	4/3.0	2,410 (+11%)	2mo	$600,000	$249	42

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

8.36% appreciation · 4.31% rent growth · sell at horizon

5-year hold

• IRR: 16.1%
• Equity multiple: 2.22×
• Total profit: $179,929
• Equity at exit: $411,889

10-year hold

• IRR: 15.8%
• Equity multiple: 4.88×
• Total profit: $570,381
• Equity at exit: $830,347

Cash invested: $147,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Arizona: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

5-day pay-or-quit; AZ courts known for speed; no state rent control; cities preempted by state law.

Methodology + full state rankings →

ZIP-level market 85298

• Home prices YoY: 2.5%
• Rents YoY: 4.3%
• Active inventory: 329
• Price-to-rent: 14.2×

Monthly cashflow live

• Estimated rent: $3,071 high
• Mortgage (P&I): −$2,753
• Tax from tax record: −$175 /mo · $2,104/yr
• Insurance: −$219
• HOA: −$103
• Vacancy / Maint / Mgmt: −$645
• Net cashflow: $-824

Break-even live

Break-even rent $4,114

Max offer price $379,370

Occupancy floor —

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $131,250
• Closing costs: $15,750
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3067 E Palmdale Ln Gilbert, AZ	3.0	2.0	1675	$2,300	$1.37	14d	1	0.21mi
2971 E Ridgewood Ln Gilbert, AZ	3.0	2.0	1675	$2,380	$1.42	43d	1	0.32mi
3440 E Flower St Gilbert, AZ	4.0	2.5	2943	$2,800	$0.95	24d	1	0.37mi
6770 S Tucana Ln Gilbert, AZ	3.0	2.0	2070	$4,500	$2.17	24d	1	0.39mi
3329 E Powell Ct Gilbert, AZ	3.0	2.0	1486	$2,345	$1.58	14d	1	0.43mi
3570 E Meadowview Dr Gilbert, AZ	4.0	3.0	2536	$3,200	$1.26	2d	1	0.46mi
3462 E Powell Way Gilbert, AZ	3.0	2.0	1665	$2,295	$1.38	24d	1	0.52mi
3147 E Vallejo Dr Gilbert, AZ	3.0	2.0	2171	$2,350	$1.08	16d	1	0.54mi
3725 E Meadowview Dr Gilbert, AZ	3.0	2.0	1404	$2,750	$1.96	24d	1	0.62mi
3486 E Anika Ct Gilbert, AZ	4.0	2.0	1749	$2,600	$1.49	43d	1	0.72mi
2927 E Mead Dr Gilbert, AZ	4.0	2.0	1651	$2,250	$1.36	18d	1	0.72mi
3068 E Ravenswood Dr Gilbert, AZ	4.0	2.0	1815	$2,550	$1.40	12d	1	0.74mi
3808 E Flower Ct Gilbert, AZ	3.0	2.5	1628	$2,095	$1.29	4d	1	0.76mi
3560 E Merlot St Gilbert, AZ	3.0	2.0	1777	$4,750	$2.67	43d	1	0.80mi
6071 S Rockwell St Gilbert, AZ	5.0	3.0	2375	$2,695	$1.13	16d	1	0.80mi
6943 S View Ln Gilbert, AZ	4.0	3.0	2586	$2,445	$0.95	4d	1	0.87mi
3868 E Palmer St Gilbert, AZ	3.0	2.5	1899	$2,000	$1.05	43d	1	0.87mi
6334 S Blake St Gilbert, AZ	3.0	2.0	1421	$2,100	$1.48	43d	1	0.87mi
3010 E Augusta Ave Gilbert, AZ	5.0	3.5	2938	$3,795	$1.29	43d	1	0.89mi
3484 E Coconino Way Gilbert, AZ	5.0	3.0	2928	$3,400	$1.16	14d	1	0.91mi
2954 E Coconino Dr Gilbert, AZ	4.0	2.0	2180	$2,590	$1.19	2d	1	1.00mi
2983 E Ironside Ln Gilbert, AZ	3.0	2.0	2450	$2,450	$1.00	43d	1	1.01mi
2303 E Citadel Dr Gilbert, AZ	4.0	3.0	2265	$2,750	$1.21	24d	1	1.17mi
2304 E Kelly Dr Gilbert, AZ	4.0	2.0	1797	$2,400	$1.34	12d	1	1.18mi
2751 E Mews Rd Gilbert, AZ	3.0	2.5	2658	$2,799	$1.05	1d	1	1.20mi
2723 E Mews Rd Gilbert, AZ	3.0	2.0	1759	$2,395	$1.36	2d	1	1.23mi
2723 E Mews Rd Gilbert, AZ	3.0	2.0	1759	$2,495	$1.42	18d	1	1.23mi
2250 E Kelly Dr Gilbert, AZ	5.0	3.0	1956	$2,700	$1.38	10d	1	1.24mi
4155 E Clubview Dr Gilbert, AZ	4.0	2.0	2064	$2,600	$1.26	4d	1	1.26mi
4176 E Clubview Dr Gilbert, AZ	4.0	2.0	2740	$5,200	$1.90	4d	1	1.27mi
4176 E Clubview Dr Gilbert, AZ	4.0	2.0	2740	$6,500	$2.37	3d	1	1.27mi
6659 S Cartier Dr Gilbert, AZ	3.0	2.0	1665	$2,300	$1.38	17d	1	1.29mi
6687 S Classic Way Gilbert, AZ	3.0	2.0	2173	$4,300	$1.98	1d	1	1.37mi
6851 S Birdie Way Gilbert, AZ	4.0	3.0	2591	$2,995	$1.16	4d	1	1.41mi
2756 E Hickory St Gilbert, AZ	4.0	2.5	2873	$2,995	$1.04	23d	1	1.42mi
2756 E Hickory St Gilbert, AZ	4.0	3.0	2873	$2,995	$1.04	21d	1	1.42mi
2543 E Penedes Dr Gilbert, AZ	4.0	3.0	2496	$2,695	$1.08	43d	1	1.45mi
4351 E Vallejo Ct Gilbert, AZ	5.0	3.0	2640	$2,995	$1.13	18d	1	1.48mi
3636 E Lodgepole Dr Gilbert, AZ	3.0	2.0	1818	$3,075	$1.69	16d	1	1.49mi

HOA detail

• Monthly dues: $103 · $1,236/yr
• Likely covers: poolgym

Listing history 24 events

1. 2026-06-18
   days on market $525,000 Active 226 DOM
2. 2026-06-17
   days on market $525,000 Active 225 DOM
3. 2026-06-16
   days on market $525,000 Active 224 DOM
4. 2026-06-15
   days on market $525,000 Active 223 DOM
5. 2026-06-13
   days on market $525,000 Active 221 DOM
6. 2026-06-13
   days on market $525,000 Active 220 DOM
7. 2026-06-09
   days on market $525,000 Active 217 DOM
8. 2026-06-08
   days on market $525,000 Active 216 DOM
9. 2026-06-07
   days on market $525,000 Active 215 DOM
10. 2026-06-04
    days on market $525,000 Active 212 DOM
11. 2026-06-03
    days on market $525,000 Active 211 DOM
12. 2026-06-02
    days on market $525,000 Active 210 DOM
13. 2026-06-01
    days on market $525,000 Active 209 DOM
14. 2026-05-31
    days on market $525,000 Active 208 DOM
15. 2026-01-22
    price $525,000 801-char remark

    Show marketing remark (801 chars)

    Fall in love with this gorgeous 2-story gem featuring a 2-car garage and all the right touches! Entertain in the inviting living room wired for surround sound—movie nights just got an upgrade! Enjoy tile floors, a neutral palette, and a kitchen that shines with wood cabinetry, SS appliances, ample counters, and a center island with a breakfast bar perfect for morning chats. Loft is ready for your creativity and can be utilized as a media room, home gym, or cozy reading nook, your choice! Main bedroom promises relaxation with dual sinks, a soaking tub, and a walk-in closet. Outside, unwind in the cozy backyard under the covered patio while sipping your favorite drink. And with community perks like a pool, fitness center, golf course, and more, you'll never want to leave! Don't miss it!

16. 2025-11-04
    listed $535,000 Active 801-char remark

    Show marketing remark (801 chars)

    Fall in love with this gorgeous 2-story gem featuring a 2-car garage and all the right touches! Entertain in the inviting living room wired for surround sound—movie nights just got an upgrade! Enjoy tile floors, a neutral palette, and a kitchen that shines with wood cabinetry, SS appliances, ample counters, and a center island with a breakfast bar perfect for morning chats. Loft is ready for your creativity and can be utilized as a media room, home gym, or cozy reading nook, your choice! Main bedroom promises relaxation with dual sinks, a soaking tub, and a walk-in closet. Outside, unwind in the cozy backyard under the covered patio while sipping your favorite drink. And with community perks like a pool, fitness center, golf course, and more, you'll never want to leave! Don't miss it!

17. 2017-03-21
    soldstatus $265,000
18. 2017-03-20
    soldstatus $265,000 Closed 505-char remark

    Show marketing remark (505 chars)

    **LEAST EXPENSIVE 4BDRM AVAILABLE IN SEVILLE** *Enticing Home on the country Club Side Of Seville Golf & Country Club * Recently Replaced Carpet Throughout * Oversized Porcelain Flooring Throughout * Large Open Kitchen * Staggered Cabinets * S/S Appliances * Surround Sound * Security System * Soft Water Loop * Wood Blinds Throughout * Low Maintenance Backyard * Newly Installed custom Garage cabinets * Great Schools * Great Community Amenities includes pools, clubhouse, fitness center, golf, etc).

19. 2017-02-08
    historical Under Contract Accepting Backups 505-char remark

    Show marketing remark (505 chars)

    **LEAST EXPENSIVE 4BDRM AVAILABLE IN SEVILLE** *Enticing Home on the country Club Side Of Seville Golf & Country Club * Recently Replaced Carpet Throughout * Oversized Porcelain Flooring Throughout * Large Open Kitchen * Staggered Cabinets * S/S Appliances * Surround Sound * Security System * Soft Water Loop * Wood Blinds Throughout * Low Maintenance Backyard * Newly Installed custom Garage cabinets * Great Schools * Great Community Amenities includes pools, clubhouse, fitness center, golf, etc).

20. 2017-01-04
    listed $270,000 Active 505-char remark

    Show marketing remark (505 chars)

    **LEAST EXPENSIVE 4BDRM AVAILABLE IN SEVILLE** *Enticing Home on the country Club Side Of Seville Golf & Country Club * Recently Replaced Carpet Throughout * Oversized Porcelain Flooring Throughout * Large Open Kitchen * Staggered Cabinets * S/S Appliances * Surround Sound * Security System * Soft Water Loop * Wood Blinds Throughout * Low Maintenance Backyard * Newly Installed custom Garage cabinets * Great Schools * Great Community Amenities includes pools, clubhouse, fitness center, golf, etc).

21. 2015-01-30
    soldstatus $240,000 Closed
22. 2015-01-30
    soldstatus $240,000
23. 2015-01-12
    status Pending
24. 2014-12-05
    listed $249,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast AZ · Resets to sale price

• Current annual tax: $2,104 · $175/mo
• Projected year-2 tax: $3,465 · $289/mo
• Expected delta: +$1,361/yr (+$113/mo · 64.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥111°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,849
• − Mortgage interest: −$29,408
• − Property taxes: −$2,104
• − Insurance: −$2,625
• − Repairs & maintenance: −$2,948
• − Management: −$2,948
• − HOA: −$1,236
• − Depreciation: −$15,273
• Taxable loss: −$19,693
• Est. tax savings @ 24.0%: +$4,726
• After-tax cash flow: $-5,166/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Chandler Unified District #80 (4242)
• NCES district ID: 0401870
• Math proficiency: 49% ▼ -8.00%
• Reading proficiency: 57% ▼ -2.00%
• Median HH income: $74,048
• Composite: 47.54/100
• National rank: #2268
• State rank: #31 of 249 in AZ

Livability — Gilbert

• Score: 87/100
• State rank: #1
• US rank: #240

Category grades

Amenities A+ Commute A Cost of living F Crime A Employment A+ Housing A+ Health & safety C- User ratings B+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gilbert, AZ
• County: Maricopa County · 4,537,380 people
• City population: 281,769
• Metro: Phoenix-Mesa-Chandler, AZ
• Population (ZIP): 44,114
• Household income: $156,425
• Rent vs Own: 8.9% rent · 91.1% own
• Severe rent burden: 173.0

Population outlook (Maricopa County) Hauer SSP2

• Today (2025): 4,979,203 people
• By 2030: 5,378,229 · +8.0%
• By 2040: 6,156,598 · +23.6%
• By 2050: 6,872,376 · +38.0%
• By 2075: 8,401,270 · +68.7%
• By 2100: 9,247,439 · +85.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 14% Two or more races 11% Asian 7% Black 2%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Italian 4% Romanian 3% Lithuanian 3%
• Foreign-born: 9% · Canada, China, Vietnam
• Languages at home: 85% English-only · Spanish 7% Other Indo-European 2% Chinese 1%

Political lean MEDSL · Maricopa

• 2024 margin: Toss-up / Even · D 47.7% · R 51.2% · Other 1.1%
• 2008→2024 swing: +7.1pp toward D · 2008: -10.6pp · 2024: -3.5pp
• All cycles: 2024: R+3.5 2020: D+2.2 2016: R+3.5 2012: R+12.0 2008: R+10.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.36%
• Current HPI: 343.6932
• Rent YoY: ▲ 4.31%
• Metro: Phoenix-Mesa-Chandler, AZ
• State GDP YoY: ▲ 4.54%
• F500 in state: 20

Industry mix (Fortune 500 HQ in AZ)

Industry	F500 HQs	Revenue
▸Technology	2	$13B
▸Mining / Metals	1	$23B
▸Environmental Services	1	$16B
▸Metals / Steel	1	$14B
▸Technology Distribution	1	$9B
▸Homebuilding	1	$8B

Price history

+110.1% since first listed

10 events — show timeline

• 2026-01-22 Price Changed $525,000 ARMLS
• 2025-11-04 Listed $535,000 ARMLS
• 2017-03-21 Sold (Public Records) $265,000 Public Records
• 2017-03-20 Sold (MLS) $265,000 ARMLS
• 2017-02-08 Contingent — ARMLS
• 2017-01-04 Listed $270,000 ARMLS
• 2015-01-30 Sold (Public Records) $240,000 Public Records
• 2015-01-30 Sold (MLS) $240,000 ARMLS
• 2015-01-12 Pending — ARMLS
• 2014-12-05 Listed $249,900 ARMLS

Property tax history

+14.1%/yr

Latest (2025): $2,104 · +0.9% YoY. Source: county tax records.