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2737 E Mews Road Gilbert, AZ 85298

3 Beds 2 Baths 1,759 sqft Built 2016

$409,900

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $233.03
  • 4 Days on Market
  • MLS # : 6205743
  • Updated Date : 03/12/2021 at 00:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,759 sqft
  • Baths : 2 full
Listing Agent

Homelogic Real Estate

Listing Agent's Description

A delightful one-owner home in sought-after Adora Trails! This single-level home has 3 bedrooms and a den with closet that can easily be converted to a bedroom. Spacious kitchen with granite countertops, large breakfast bar, pantry and plenty of cabinets for storage. Low maintenance desert landscaping in front and back yards. It's not just the home, it's the community! Adora Trails includes a beautiful community center with outdoor basketball court, fitness center and community pool. It features scenic walking trails, a catch and release fishing lake and several lush green play areas. You will be close to San Tan Village mall shopping and restaurants. Adora Trails is a great place to call home!

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
 

$368,910$450,890$409,900

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,424
Property Tax -$286
Property Insurance -$61
HOA -$104
Property Management Fees -$99
CASH FLOW
-$224

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.

$409,900

PROJECTED PRICE

$1,750

PROJECTED RENT

0.43%

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$114,374

INVESTMENT

$114,374

Down Payment
$102,475
Rehab Estimate
$5,750
Closing Costs
$6,149

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,424

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $102,475
Loan Amount $307,425
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$6,968

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,873

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8003$1,8004$1,9005$1,995
$1,995
RENT COMPS ANALYSIS
  • 2737 E Mews Road Gilbert, AZ 1
    • 3 beds 2 baths ∙ 1,759 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,759 Sqft ∙ Built 2016
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.99
    •  
  • 3068 E Ravenswood Drive Gilbert, AZ 2
    • 4 beds 2 baths ∙ 1,815 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,815 Sqft ∙ Built 2004
    property image
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.99
    •  
  • 2194 E Gillcrest Road Gilbert, AZ 3
    • 3 beds 2 baths ∙ 1,731 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,731 Sqft ∙ Built 2004
    property image
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.04
    •  
  • 7030 S San Jacinto Court Gilbert, AZ 4
    • 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 2005
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.12
    •  
  • 2418 E Brigadier Drive Gilbert, AZ 5
    • 3 beds 2 baths ∙ 1,794 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,794 Sqft ∙ Built 2018
    property image
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.11
    •  
PROPERTY LISTING DETAILS
Julayne Riggs
Homelogic Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6205743
Last Updated: 03/12/2021
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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