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1302 N Mckenna Lane Gilbert, AZ 85233

5 Beds 4 Baths 2,237 sqft Built 1997

$475,000

List Price

$2,220

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $212.34
  • 3 Days on Market
  • MLS # : 6212203
  • Updated Date : 03/27/2021 at 15:17
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,237 sqft
  • Baths : 3 full , 1 half
Listing Agent

Realty One Group

Listing Agent's Description

Check out this one of kind gem in the heart of Gilbert! 2014-2016 Fully Updated 5 bedrooms 3 bath home! Newer low-e windows and urethane foam insulated walls make this house extremely energy efficient! Newer remodeled kitchen with custom cabinets, granite countertops and a GE Slate appliance package! Beautiful outdoor living including pool with Laminar fiber optic deck jets! Turf and a built in grill with granite counters! Outdoor pool house and bathroom not included in sq ft.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Arrowpoint

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $122k386k

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

Neighborhood: Arrowpoint

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10361981

* 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
Mesquite Jr High School Middle Regular 715 34 7
Mesquite High School High Regular 2,000 82 6
Mesquite Jr High School Middle Unknown NA

Mesquite Jr High School

  • Education Level: Middle
  • # of students: 715
  • # of teachers: 34
7
GreatSchools Rating

Mesquite High School

  • Education Level: High
  • # of students: 2,000
  • # of teachers: 82
6
GreatSchools Rating

Mesquite Jr High School

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

$427,500$522,500$475,000

PURCHASE PRICE

$1,998$2,442$2,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,220
EXPENSES Loan Payment -$1,650
Property Tax -$279
Property Insurance -$71
HOA -$68
Property Management Fees -$99
CASH FLOW
$53

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.

$475,000

PROJECTED PRICE

$2,220

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.2%
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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,650

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$30,879

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,220

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $2,399

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,2203$2,3954$2,4505$2,600
$2,600
RENT COMPS ANALYSIS
  • 1302 N Mckenna Lane Gilbert, AZ 2
    • 5 beds 4 baths ∙ 2,237 Sqft ∙ Built 1997 5 beds 4 baths ∙ 2,237 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $2,220
    • $0.99
    •  
  • 1114 N Whipple Court Gilbert, AZ 1
    • 4 beds 3 baths ∙ 2,106 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,106 Sqft ∙ Built 1995
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.00
    •  
  • 1100 N Alder Court Gilbert, AZ 3
    • 5 beds 3 baths ∙ 2,144 Sqft ∙ Built 1985 5 beds 3 baths ∙ 2,144 Sqft ∙ Built 1985
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.12
    •  
  • 913 W Juanita Avenue Gilbert, AZ 4
    • 4 beds 3 baths ∙ 2,232 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,232 Sqft ∙ Built 1994
    LEASED 10/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.10
    •  
  • 695 W San Angelo -- Gilbert, AZ 5
    • 4 beds 2 baths ∙ 2,437 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,437 Sqft ∙ Built 1998
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.07
    •  
PROPERTY LISTING DETAILS
Darwin Wall
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6212203
Last Updated: 03/27/2021
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.

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