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1090 S Nancy Lane Gilbert, AZ 85296

3 Beds 3 Baths 1,907 sqft Built 2007

INVESTimate

$359,900

List Price

$1,660

$1,494 - $1,826

Rent Est.

$379,479  ( +5.44%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2007
  • Price/Sqft : $188.73
  • 10 Days on Market
  • MLS # : 6118653
  • Updated Date : 08/19/2020 at 15:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,907 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty Phoenix

Listing Agent's Description

Looking for a low maintenance home in a wonderful neighborhood? This 3 bedroom, 2.5 bathroom home boarders the community edge, giving you a spacious and private feel. This home boasts a large living room room with an abundance of natural light that is open to the dining area, the kitchen includes ample cabinet space & granite counters as well as stainless appliances. Upstairs features the large master suite has its own outdoor balcony and master bathroom has dual sinks, walk-in shower & garden tub. Additional 2 bedrooms, bonus loft area and full bath are located upstairs as well as the laundry room. Upgrades include a Ring doorbell, Ecobee thermostat, new tile, carpet, lighting, and much more. This home has been well maintained and is ready for you!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Cooley Station North

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Cooley Station North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9611981

* 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
Gateway Pointe Elementary School Primary Regular 755 36 7
Gateway Pointe Elementary School Middle Regular 755 36 7
Williams Field High School High Regular 1,705 64 7

Gateway Pointe Elementary School

  • Education Level: Primary
  • # of students: 755
  • # of teachers: 36
7
GreatSchools Rating

Gateway Pointe Elementary School

  • Education Level: Middle
  • # of students: 755
  • # of teachers: 36
7
GreatSchools Rating

Williams Field High School

  • Education Level: High
  • # of students: 1,705
  • # of teachers: 64
7
GreatSchools Rating
 

$323,910$395,890$359,900

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$1,328
Property Tax -$246
Property Insurance -$64
HOA -$145
Property Management Fees -$99
CASH FLOW
-$222

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.

$359,900

PROJECTED PRICE

$1,660

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.44%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,124

INVESTMENT

$101,124

Down Payment
$89,975
Rehab Estimate
$5,750
Closing Costs
$5,399

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,328

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $89,975
Loan Amount $269,925
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$6,449

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,650

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,5953$1,6504$1,6755$1,865
$1,865
RENT COMPS ANALYSIS
  • 1090 S Nancy Lane Gilbert, 1
    • 3 beds 3 baths ∙ 1,907 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,907 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3651 E Leslie Drive Gilbert, 2
    • 3 beds 3 baths ∙ 2,035 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,035 Sqft ∙ Built 2007
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.78
    •  
  • 1173 S Agnes Lane Gilbert, 3
    • 3 beds 2 baths ∙ 1,802 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,802 Sqft ∙ Built 2007
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.92
    •  
  • 929 S Storment Lane Gilbert, 4
    • 3 beds 3 baths ∙ 2,035 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,035 Sqft ∙ Built 2007
    property image
    LEASED 04/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.82
    •  
  • 1051 S Reber Avenue Gilbert, 5
    • 3 beds 3 baths ∙ 1,982 Sqft ∙ Built 2015 3 beds 3 baths ∙ 1,982 Sqft ∙ Built 2015
    property image
    LEASED 12/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,865
    • $0.94
    •  
PROPERTY LISTING DETAILS
Ellen A Gale
Keller Williams Realty Phoenix
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6118653
Last Updated: 08/19/2020
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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