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2777 E Megan Street Gilbert, AZ 85295

3 Beds 2 Baths 1,742 sqft Built 2009

$370,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $212.40
  • 2 Days on Market
  • MLS # : 6187316
  • Updated Date : 01/30/2021 at 08:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,742 sqft
  • Baths : 2 full
Listing Agent

Dempsey Group Realty

Listing Agent's Description

Your home sweet home is here! This beautiful corner lot property is nestled in the heart of Gilbert. The house provides great curb appeal and easy-care desert landscaping. Step inside this beauty to find everything you have been looking for. Starting with a living and dining area, neutral color palette, and so much natural light ideal for interior plants. This dreamy eat-in kitchen would make any home chef jealous with it's high-end appliances, breakfast bar, recessed lighting, pantry, and gorgeous oak cabinetry with crown molding. Inside the main bedroom, you will find a lavish on-suite bathroom with his and her sinks, along with a generous walk-in closet. Out the back, you have a covered and paved patio where you can enjoy relaxing afternoons. Great community of Lyon's Gate offers

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
 

$333,000$407,000$370,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,285
Property Tax -$253
Property Insurance -$61
HOA -$60
Property Management Fees -$99
CASH FLOW
-$58

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.

$370,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.46%

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,800

INVESTMENT

$103,800

Down Payment
$92,500
Rehab Estimate
$5,750
Closing Costs
$5,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,285

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,500
Loan Amount $277,500
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$15,534

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
  • $1,707

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,6453$1,6954$1,7505$1,750
$1,750
RENT COMPS ANALYSIS
  • 2777 E Megan Street Gilbert, AZ 1
    • 3 beds 2 baths ∙ 1,742 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,742 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2644 E Megan Street Gilbert, AZ 2
    • 3 beds 3 baths ∙ 1,748 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,748 Sqft ∙ Built 2006
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.94
    •  
  • 1644 S Reseda Street Gilbert, AZ 3
    • 3 beds 2 baths ∙ 1,742 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,742 Sqft ∙ Built 2006
    LEASED 04/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.97
    •  
  • 1707 S Rochester Drive Gilbert, AZ 4
    • 3 beds 3 baths ∙ 1,737 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,737 Sqft ∙ Built 2008
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.01
    •  
  • 2822 E Megan Street Gilbert, AZ 5
    • 3 beds 3 baths ∙ 1,748 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,748 Sqft ∙ Built 2006
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.00
    •  
PROPERTY LISTING DETAILS
Kevin Dempsey
Dempsey Group Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6187316
Last Updated: 01/30/2021
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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