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1357 N Tucana Lane Gilbert, AZ 85234

3 Beds 2 Baths 2,274 sqft Built 1996

$450,000

List Price

$2,330

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

December 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $197.89
  • 2 Days on Market
  • MLS # : 6174121
  • Updated Date : 12/26/2020 at 15:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,274 sqft
  • Baths : 2 full
Listing Agent

Re/max Alliance Group

Listing Agent's Description

This is it! Tastefully Remodeled Home in Wonderful Gilbert Location. This home has 3 Large Bedrooms + Den * Open & Spacious Living & Family Rooms * Updated Bathrooms * New Flooring & Baseboards * Updated Fixtures & Fans * Fresh Paint. Kitchen has Granite Counters * Extended Island * SS Appliances * Painted Cabinets * Walk-in Pantry. Stunning Backyard * Extended Covered Patio * Artificial Turf * Custom Planter Boxes * Outdoor Fireplace with Seating * Mature Trees * Multiple Sitting Areas. 3 Car Garage * Separate A/C for Garage * 2 RV Gates 10 & 6 feet wide. Enough room to Park 3 vehicles behind gate * Storage Shed * Sunscreens * Rain Gutters * Drain system to direct water to front yard. Excellent Location to Freeways, Shopping, Restaurants & Entertainment. This home is a MUST SEE!!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Carriage Lane

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Carriage Lane

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
Pioneer Elementary School Primary Regular 539 36 8
Highland Jr High School Middle Regular 1,269 59 8
Highland High School High Regular 3,065 123 8

Pioneer Elementary School

  • Education Level: Primary
  • # of students: 539
  • # of teachers: 36
8
GreatSchools Rating

Highland Jr High School

  • Education Level: Middle
  • # of students: 1,269
  • # of teachers: 59
8
GreatSchools Rating

Highland High School

  • Education Level: High
  • # of students: 3,065
  • # of teachers: 123
8
GreatSchools Rating
 

$405,000$495,000$450,000

PURCHASE PRICE

$2,097$2,563$2,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,330
EXPENSES Loan Payment -$1,660
Property Tax -$267
Property Insurance -$72
HOA -$9
Property Management Fees -$99
CASH FLOW
$223

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.

$450,000

PROJECTED PRICE

$2,330

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.3%
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$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

8.08

YEARS SAVED

$55,563

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,330

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $2,069

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8933$2,3304$2,3355$2,350
$2,350
RENT COMPS ANALYSIS
  • 1357 N Tucana Lane Gilbert, AZ 3
    • 3 beds 2 baths ∙ 2,274 Sqft ∙ Built 1996 3 beds 2 baths ∙ 2,274 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $2,330
    • $1.02
    •  
  • 2249 E Santa Cruz Drive Gilbert, AZ 1
    • 4 beds 2 baths ∙ 2,226 Sqft ∙ Built 1991 4 beds 2 baths ∙ 2,226 Sqft ∙ Built 1991
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.81
    •  
  • 3079 E Santa Rosa Drive Gilbert, AZ 2
    • 3 beds 3 baths ∙ 2,267 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,267 Sqft ∙ Built 2002
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,893
    • $0.84
    •  
  • 1415 N Thunderbird Avenue Gilbert, AZ 4
    • 3 beds 3 baths ∙ 2,267 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,267 Sqft ∙ Built 2002
    LEASED 12/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,335
    • $1.03
    •  
  • 1256 N Banning Street Gilbert, AZ 5
    • 4 beds 2 baths ∙ 2,454 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,454 Sqft ∙ Built 1997
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.96
    •  
PROPERTY LISTING DETAILS
Jim Rock Nawrocki
Re/max Alliance Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6174121
Last Updated: 12/26/2020
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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