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2641 E Blue Spruce Lane Gilbert, AZ 85298

6 Beds 3 Baths 3,444 sqft Built 2008

$575,000

List Price

$2,390

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $166.96
  • 2 Days on Market
  • MLS # : 6160605
  • Updated Date : 11/14/2020 at 23:13
CONSTRUCTION
  • Beds : 6
  • Floor Size : 3,444 sqft
  • Baths : 3 full
Listing Agent

Weller Realty & Management

Listing Agent's Description

GORGEOUS TRUE 6 BEDROOM HOME IN FREEMAN FARMS. MODEL SHARP, MAINTAINED HOME W/ NEW CARPET. ENTER INTO A SPACIOUS ENTRY WITH A GRAND WOOD/IRON STAIRCASE, IMPRESSIVE FORMAL LIVING & DINING AREA W/SOARING CEILINGS AND PLANTATION SHUTTERS. ENTERTAINING FAMILY RM, WITH GAS FPL. UPGRADED KITCHEN, GRANITE COUNTERS, UPGRADED CABS & BACKSPLASH, NEW STAINLESS MICRO/STOVE/DISHWASHER & WALK-IN PANTRY. ONE BEDROOM AND FULL BATH ON FIRST FLOOR. UPSTAIRS OPEN LOFT, SPACIOUS MASTER BED & BATH W/ SEPARATE SHOWER AND TUB, DBL SINKS & LG WALK-IN CLOSET. LARGE 4 OTHER BEDROOMS W/WALK-IN CLOSETS. LAUNDRY UPSTAIRS W/ SINK, INVITING BACKYD W/EXTENDED PAVING STONES, NO NEIGHBORS BEHIND FOR PRIVACY. 3 CAR TANDEM GARAGE. VERY DESIRABLE FLOOR PLAN. ALL THIS JUST DOWN FROM LAKE & PARK, A MODEL GEM! YOU WILL LOVE IT

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
Coronado Elementary School Primary Regular 643 31 9
Coronado Elementary School Middle Regular 643 31 9
Williams Field High School High Regular 1,705 64 7

Coronado Elementary School

  • Education Level: Primary
  • # of students: 643
  • # of teachers: 31
9
GreatSchools Rating

Coronado Elementary School

  • Education Level: Middle
  • # of students: 643
  • # of teachers: 31
9
GreatSchools Rating

Williams Field High School

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

$517,500$632,500$575,000

PURCHASE PRICE

$2,151$2,629$2,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,390
EXPENSES Loan Payment -$2,122
Property Tax -$393
Property Insurance -$94
HOA -$29
Property Management Fees -$99
CASH FLOW
-$346

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.

$575,000

PROJECTED PRICE

$2,390

PROJECTED RENT

0.42%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$158,125

INVESTMENT

$158,125

Down Payment
$143,750
Rehab Estimate
$5,750
Closing Costs
$8,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,122

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $143,750
Loan Amount $431,250
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$12,290

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,390

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $2,574

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,3903$2,4954$2,6505$2,795
$2,795
RENT COMPS ANALYSIS
  • 2641 E Blue Spruce Lane Gilbert, AZ 2
    • 6 beds 3 baths ∙ 3,444 Sqft ∙ Built 2008 6 beds 3 baths ∙ 3,444 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $2,390
    • $0.69
    •  
  • 2696 E Lodgepole Drive Gilbert, AZ 1
    • 5 beds 3 baths ∙ 3,292 Sqft ∙ Built 2010 5 beds 3 baths ∙ 3,292 Sqft ∙ Built 2010
    LEASED 08/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.67
    •  
  • 2789 E Anika Drive Gilbert, AZ 3
    • 5 beds 3 baths ∙ 3,433 Sqft ∙ Built 2007 5 beds 3 baths ∙ 3,433 Sqft ∙ Built 2007
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.73
    •  
  • 3296 E Tonto Court Gilbert, AZ 4
    • 5 beds 3 baths ∙ 3,389 Sqft ∙ Built 2007 5 beds 3 baths ∙ 3,389 Sqft ∙ Built 2007
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.78
    •  
  • 2709 E Sourwood Drive Gilbert, AZ 5
    • 5 beds 3 baths ∙ 3,444 Sqft ∙ Built 2008 5 beds 3 baths ∙ 3,444 Sqft ∙ Built 2008
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $0.81
    •  
PROPERTY LISTING DETAILS
Marilynn Dillard
Weller Realty & Management
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6160605
Last Updated: 11/14/2020
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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