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2624 E Mews Road Gilbert, AZ 85298

5 Beds 3 Baths 3,176 sqft Built 2016

$525,000

List Price

$2,550

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $165.30
  • 4 Days on Market
  • MLS # : 6199968
  • Updated Date : 03/04/2021 at 22:54
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,176 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Integrity First

Listing Agent's Description

You are going to fall in love with this two story home in the highly desirable neighborhood of Adora Trails. This home features 5 bedrooms, 3 FULL baths, den, and OVERSIZED loft. Staggered 20'' tile greets you at the entry and flows throughout the living and dining spaces downstairs. This home has BRAND NEW CARPET with upgraded pad, FRESH PAINT, and NEW faux wood blinds throughout the home. This 3100 sq ft home is situated on an oversized lot, big enough for a pool and more. Adora Trails is a master planned community featuring miles of walking trails, parks, heated pool, and clubhouse. Come and see this home today!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Mountainwood

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $122k386k

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

Neighborhood: Mountainwood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10362150

* 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
Payne Junior High School Middle Regular 1,518 70 9
Basha High School High Regular 2,646 125 8

Payne Junior High School

  • Education Level: Middle
  • # of students: 1,518
  • # of teachers: 70
9
GreatSchools Rating

Basha High School

  • Education Level: High
  • # of students: 2,646
  • # of teachers: 125
8
GreatSchools Rating
 

$472,500$577,500$525,000

PURCHASE PRICE

$2,295$2,805$2,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,550
EXPENSES Loan Payment -$1,824
Property Tax -$367
Property Insurance -$89
HOA -$104
Property Management Fees -$99
CASH FLOW
$68

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.

$525,000

PROJECTED PRICE

$2,550

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.8%
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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$144,875

INVESTMENT

$144,875

Down Payment
$131,250
Rehab Estimate
$5,750
Closing Costs
$7,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,824

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $131,250
Loan Amount $393,750
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$33,567

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,550

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,858

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$2,290
1$2,2902$2,5503$2,5954$2,7455$3,200
$3,200
RENT COMPS ANALYSIS
  • 2624 E Mews Road Gilbert, AZ 2
    • 5 beds 3 baths ∙ 3,176 Sqft ∙ Built 2016 5 beds 3 baths ∙ 3,176 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.80
    •  
  • 2159 E Galileo Drive Gilbert, AZ 1
    • 4 beds 3 baths ∙ 2,878 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,878 Sqft ∙ Built 2012
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $0.80
    •  
  • 3160 E Muirfield Street Gilbert, AZ 3
    • 4 beds 4 baths ∙ 3,060 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,060 Sqft ∙ Built 2004
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.85
    •  
  • 2757 E Bellerive Drive Gilbert, AZ 4
    • 4 beds 3 baths ∙ 2,873 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,873 Sqft ∙ Built 2017
    LEASED 09/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,745
    • $0.96
    •  
  • 7583 S Penrose Drive Gilbert, AZ 5
    • 4 beds 4 baths ∙ 3,219 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,219 Sqft ∙ Built 2017
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.99
    •  
PROPERTY LISTING DETAILS
Heather Openshaw
Keller Williams Integrity First
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6199968
Last Updated: 03/04/2021
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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