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240 W Juniper Avenue #1072 Gilbert, AZ 85233

2 Beds 3 Baths 1,127 sqft Built 2017

$290,000

List Price

$1,320

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 2017
  • Price/Sqft : $257.32
  • 6 Days on Market
  • MLS # : 6153466
  • Updated Date : 11/01/2020 at 09:37
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,127 sqft
  • Baths : 2 full , 1 half
Listing Agent

Venture Rei, Llc

Listing Agent's Description

Must see this immaculate 2 bedroom, 2.5 bathroom residence located in the heart of the Heritage District in Downtown Gilbert! This residence boasts of 1127 spacious sq ft of luxury living! This property is loaded with upgrades galore! **2 CAR GARAGE** **CUSTOM TILE FLOORING** **RECESSED LIGHTING** **OPEN FLOORPLAN** **PRIVATE BALCONY** **GRANITE COUNTERTOPS** **UPGRADED CABINETS** **STAINLESS STEEL APPLIANCES** **TWO-TONE PAINT** **LARGE BEDROOMS** **COMMUNITY POOL** **ON SUITE BEDROOMS** **WALKING DISTANCE TO DOWNTOWN GILBERT** Close to great schools, dining, shopping and freeways. Make this one yours today

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Via Sorento Condominiums

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300k320kPrice in $76k337k

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

Neighborhood: Via Sorento Condominiums

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8621866

* 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
Oak Tree Elementary School Primary Regular 675 40 6
Mesquite Jr High School Middle Regular 715 34 7
Mesquite High School High Regular 2,000 82 6

Oak Tree Elementary School

  • Education Level: Primary
  • # of students: 675
  • # of teachers: 40
6
GreatSchools Rating

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
 

$261,000$319,000$290,000

PURCHASE PRICE

$1,188$1,452$1,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,320
EXPENSES Loan Payment -$1,070
Property Tax -$171
Property Insurance -$49
HOA -$159
Property Management Fees -$99
CASH FLOW
-$228

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.

$290,000

PROJECTED PRICE

$1,320

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 6.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$3,412

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,320

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $1,324

    COMP ESTIMATED VALUE
  • $1.17

    COMP AVG. RENT PER SQFT
Comps Range
$1,320
1$1,3202$1,3253$1,3504$1,3955$1,400
$1,400
RENT COMPS ANALYSIS
  • 240 W Juniper Avenue #1072 Gilbert, AZ 1
    • 2 beds 3 baths ∙ 1,127 Sqft ∙ Built 2017 2 beds 3 baths ∙ 1,127 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,320
    • $1.17
    •  
  • 240 W Juniper Avenue #1027 Gilbert, AZ 2
    • 2 beds 3 baths ∙ 1,105 Sqft ∙ Built 2008 2 beds 3 baths ∙ 1,105 Sqft ∙ Built 2008
    property image
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $1.20
    •  
  • 943 W Wendy Way Gilbert, AZ 3
    • 2 beds 2 baths ∙ 1,187 Sqft ∙ Built 2003 2 beds 2 baths ∙ 1,187 Sqft ∙ Built 2003
    property image
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.14
    •  
  • 900 W Aspen Way Gilbert, AZ 4
    • 2 beds 2 baths ∙ 1,187 Sqft ∙ Built 2004 2 beds 2 baths ∙ 1,187 Sqft ∙ Built 2004
    property image
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.18
    •  
  • 240 W Juniper Avenue #1259 Gilbert, AZ 5
    • 2 beds 2 baths ∙ 1,184 Sqft ∙ Built 2008 2 beds 2 baths ∙ 1,184 Sqft ∙ Built 2008
    property image
    LEASED 12/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.18
    •  
PROPERTY LISTING DETAILS
Frank Gerola
Venture Rei, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6153466
Last Updated: 11/01/2020
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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