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2640 E Megan Street Gilbert, AZ 85295

4 Beds 3 Baths 1,884 sqft Built 2006

$340,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $180.47
  • 5 Days on Market
  • MLS # : 6200083
  • Updated Date : 03/02/2021 at 20:32
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,884 sqft
  • Baths : 3 full
Listing Agent

Homesmart Lifestyles

Listing Agent's Description

Turn key move in ready, 4 bed, 3 full bath home located in the beautiful Lyons Gate community of Gilbert! This home features stainless steel appliances, granite counter tops in the kitchen, and all new interior paint. This floor plan also has a full bedroom and bathroom down stairs, with the additional 3 bedrooms and 2 bathrooms on the upper level. This community features a community Park and Pool Close By, Shopping, Restaurants, and other great entertainment amenities!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Lyons Gate

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Lyons Gate

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9221981

* 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
 

$306,000$374,000$340,000

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$1,181
Property Tax -$232
Property Insurance -$64
HOA -$60
Property Management Fees -$99
CASH FLOW
$54

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.

$340,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

5.92

YEARS SAVED

$22,774

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
  • $1,691

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,6503$1,6504$1,6955$1,750
$1,750
RENT COMPS ANALYSIS
  • 2640 E Megan Street Gilbert, AZ 1
    • 4 beds 3 baths ∙ 1,884 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,884 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2600 E Megan Street Gilbert, AZ 2
    • 4 beds 3 baths ∙ 1,884 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,884 Sqft ∙ Built 2006
    LEASED 07/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.88
    •  
  • 2754 E Megan Street Gilbert, AZ 3
    • 4 beds 3 baths ∙ 1,884 Sqft ∙ Built 2011 4 beds 3 baths ∙ 1,884 Sqft ∙ Built 2011
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.88
    •  
  • 2622 E Megan Street Gilbert, AZ 4
    • 4 beds 3 baths ∙ 1,884 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,884 Sqft ∙ Built 2006
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.90
    •  
  • 2732 E Megan Street Gilbert, AZ 5
    • 4 beds 3 baths ∙ 1,884 Sqft ∙ Built 2011 4 beds 3 baths ∙ 1,884 Sqft ∙ Built 2011
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.93
    •  
PROPERTY LISTING DETAILS
Blake Clark
Homesmart Lifestyles
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6200083
Last Updated: 03/02/2021
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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