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2493 E Narrowleaf Drive Gilbert, AZ 85298

6 Beds 4 Baths 4,065 sqft Built 2009

$689,000

List Price

$2,760

$2.5K - $3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $169.50
  • 4 Days on Market
  • MLS # : 6199223
  • Updated Date : 02/25/2021 at 22:13
CONSTRUCTION
  • Beds : 6
  • Floor Size : 4,065 sqft
  • Baths : 4 full
Listing Agent

Az Flat Fee

Listing Agent's Description

The house you've always dreamed of is here! Captivating two-story property with all the bells & whistles offers desert landscaping, 3 car garage, RV gate, and stone accents. Interior boasts clean & spacious living areas. Elegant family room w/fireplace & in-ceiling speakers. Gourmet kitchen features high-end SS appliances, staggered cabinets w/crown molding, granite countertops, tile backsplash, large island, and walk-in pantry. Master suite has an immaculate ensuite with his & hers sinks, make-up vanity, soaking tub, and ample walk-in closet. Oversized loft is perfect for a game area. Let's not forget about the amazing backyard! This great Oasis offers full length covered patio w/ceiling fans, fenced pool, lush lawn, many palm trees, and citrus trees. Stop looking & start calling!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Gilbert

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $122k403k

* 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
Cooley Middle School Middle Unknown 915 39 NA
Williams Field High School High Regular 1,705 64 7

Cooley Middle School

  • Education Level: Middle
  • # of students: 915
  • # of teachers: 39
NA
GreatSchools Rating

Williams Field High School

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

$620,100$757,900$689,000

PURCHASE PRICE

$2,484$3,036$2,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,760
EXPENSES Loan Payment -$2,393
Property Tax -$470
Property Insurance -$106
HOA -$29
Property Management Fees -$99
CASH FLOW
-$338

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.

$689,000

PROJECTED PRICE

$2,760

PROJECTED RENT

0.40%

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$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$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$188,335

INVESTMENT

$188,335

Down Payment
$172,250
Rehab Estimate
$5,750
Closing Costs
$10,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,393

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $172,250
Loan Amount $516,750
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$14,618

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
  • $2,947

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,6953$2,8954$2,9505$3,450
$3,450
RENT COMPS ANALYSIS
  • 2493 E Narrowleaf Drive Gilbert, AZ 1
    • 6 beds 4 baths ∙ 4,065 Sqft ∙ Built 2009 6 beds 4 baths ∙ 4,065 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3723 E Latham Court Gilbert, AZ 2
    • 5 beds 3 baths ∙ 3,800 Sqft ∙ Built 2002 5 beds 3 baths ∙ 3,800 Sqft ∙ Built 2002
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.71
    •  
  • 5391 S Cardinal Street Gilbert, AZ 3
    • 6 beds 5 baths ∙ 4,350 Sqft ∙ Built 2007 6 beds 5 baths ∙ 4,350 Sqft ∙ Built 2007
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,895
    • $0.67
    •  
  • 3334 E Blue Ridge Way Gilbert, AZ 4
    • 5 beds 4 baths ∙ 4,120 Sqft ∙ Built 2005 5 beds 4 baths ∙ 4,120 Sqft ∙ Built 2005
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.72
    •  
  • 2560 E Carob Drive Gilbert, AZ 5
    • 6 beds 5 baths ∙ 4,305 Sqft ∙ Built 2010 6 beds 5 baths ∙ 4,305 Sqft ∙ Built 2010
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,450
    • $0.80
    •  
PROPERTY LISTING DETAILS
Richard Harless
Az Flat Fee
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6199223
Last Updated: 02/25/2021
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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