Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2831 E Nunneley Road Gilbert, AZ 85296

3 Beds 2 Baths 2,021 sqft Built 1998

$440,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $217.71
  • 2 Days on Market
  • MLS # : 6163500
  • Updated Date : 11/21/2020 at 11:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,021 sqft
  • Baths : 2 full
Listing Agent

Frank Renner Realty

Listing Agent's Description

Fantastic single story home on large lot in AMAZING location! This home features: enviting greatroom upon entry, tile throughout, spacious kitchen, large family/entertainment area, double sinks in master bath with enormous walk in closet! Access to Patio from Master or Kitchen to Cool Pool with the perfect south facing back yard to take in all that soothing winter sun! New Exterior Paint in June and Walk-In closets in every bedroom. Located at the highly desirable ''Southeast bend'' of the 202 Freeway, minutes away from San Tan Village, excellent shopping, schools, eateries, parks, healthcare, 10 min to Old Town Gilbert

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Rancho Corona

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $122k382k

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

Neighborhood: Rancho Corona

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10181981

* 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
Higley Traditional Academy Primary Regular 645 29 9
Higley Traditional Academy Middle Regular 645 29 9
Williams Field High School High Regular 1,705 64 7

Higley Traditional Academy

  • Education Level: Primary
  • # of students: 645
  • # of teachers: 29
9
GreatSchools Rating

Higley Traditional Academy

  • Education Level: Middle
  • # of students: 645
  • # of teachers: 29
9
GreatSchools Rating

Williams Field High School

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

$396,000$484,000$440,000

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,623
Property Tax -$300
Property Insurance -$67
HOA -$48
Property Management Fees -$99
CASH FLOW
-$337

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.

$440,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 9.0%
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

PROJECTED ANNUAL CASH FLOW

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

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$122,350

INVESTMENT

$122,350

Down Payment
$110,000
Rehab Estimate
$5,750
Closing Costs
$6,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,623

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $110,000
Loan Amount $330,000
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$5,640

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,925

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8003$1,8504$1,8955$2,025
$2,025
RENT COMPS ANALYSIS
  • 2831 E Nunneley Road Gilbert, AZ 2
    • 3 beds 2 baths ∙ 2,021 Sqft ∙ Built 1998 3 beds 2 baths ∙ 2,021 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.89
    •  
  • 954 S Parkcrest Street Gilbert, AZ 1
    • 3 beds 2 baths ∙ 1,967 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,967 Sqft ∙ Built 2000
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.91
    •  
  • 918 S San Joaquin Court Gilbert, AZ 3
    • 4 beds 2 baths ∙ 2,004 Sqft ∙ Built 1994 4 beds 2 baths ∙ 2,004 Sqft ∙ Built 1994
    property image
    LEASED 04/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.92
    •  
  • 1035 S Parkcrest Street Gilbert, AZ 4
    • 3 beds 2 baths ∙ 1,917 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,917 Sqft ∙ Built 1999
    property image
    LEASED 06/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.99
    •  
  • 2458 E Jasper Drive Gilbert, AZ 5
    • 4 beds 3 baths ∙ 2,053 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,053 Sqft ∙ Built 1998
    property image
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,025
    • $0.99
    •  
PROPERTY LISTING DETAILS
Frank Renner
Frank Renner Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6163500
Last Updated: 11/21/2020
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.

BESbswy