Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

120 E Bernie Lane Gilbert, AZ 85295

3 Beds 2 Baths 1,788 sqft Built 2014

$405,000

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $226.51
  • 3 Days on Market
  • MLS # : 6196042
  • Updated Date : 02/19/2021 at 20:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,788 sqft
  • Baths : 2 full
Listing Agent

West Usa Realty

Listing Agent's Description

Location, Location...just 2 miles N of S 202 loop & 3 miles South of bustling Gilbert culinary district. This beautiful, well maintained, Meritage Home Energy Star home features 3 bed, 2 bath, den/office, great room, gourmet kitchen with large island, stainless steel appliances, carpet, walk-in master closet, tile flooring, 9+ ceiling, and extra overheard storage in garage! Outdoors you will find your private oasis on one of the largest lots in the neighborhood! A covered patio with huge extended pergola, above ground hot tub and a built in outdoor kitchen! Do not miss out on this house will go quickly!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Gilbert

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Gilbert

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10361987

* 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
South Valley Jr. High School Middle Regular 1,193 53 9
Campo Verde High School High Regular 2,094 86 8
South Valley Jr. High School Middle Unknown NA

South Valley Jr. High School

  • Education Level: Middle
  • # of students: 1,193
  • # of teachers: 53
9
GreatSchools Rating

Campo Verde High School

  • Education Level: High
  • # of students: 2,094
  • # of teachers: 86
8
GreatSchools Rating

South Valley Jr. High School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$364,500$445,500$405,000

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$1,407
Property Tax -$262
Property Insurance -$62
HOA -$80
Property Management Fees -$99
CASH FLOW
-$149

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.

$405,000

PROJECTED PRICE

$1,760

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$113,075

INVESTMENT

$113,075

Down Payment
$101,250
Rehab Estimate
$5,750
Closing Costs
$6,075

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,407

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $101,250
Loan Amount $303,750
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$11,279

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,779

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6953$1,7004$1,7005$1,760
$1,760
RENT COMPS ANALYSIS
  • 120 E Bernie Lane Gilbert, AZ 5
    • 3 beds 2 baths ∙ 1,788 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,788 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.98
    •  
  • 2541 E Binner Drive Chandler, AZ 1
    • 3 beds 2 baths ∙ 1,679 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,679 Sqft ∙ Built 1999
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.92
    •  
  • 2411 E Whitten Street Chandler, AZ 2
    • 4 beds 2 baths ∙ 1,615 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,615 Sqft ∙ Built 1999
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.05
    •  
  • 381 N Bell Place Chandler, AZ 3
    • 3 beds 2 baths ∙ 1,693 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,693 Sqft ∙ Built 1998
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.00
    •  
  • 167 W Del Rio Street Gilbert, AZ 4
    • 4 beds 2 baths ∙ 1,685 Sqft ∙ Built 1997 4 beds 2 baths ∙ 1,685 Sqft ∙ Built 1997
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.01
    •  
PROPERTY LISTING DETAILS
Sandra West
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6196042
Last Updated: 02/19/2021
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. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

BESbswy