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3027 S Joshua Tree Lane Gilbert, AZ 85295

4 Beds 3 Baths 3,080 sqft Built 2006

$375,000

List Price

$2,120

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $121.75
  • 3 Days on Market
  • MLS # : 6159967
  • Updated Date : 11/13/2020 at 12:44
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,080 sqft
  • Baths : 3 full
Listing Agent

Re/max Excalibur

Listing Agent's Description

4 bedroom, 3 bath home. This home also features a huge game room with a covered walk-out balcony. Dual zoned thermostats, and 9' ceilings throughout. Master bedroom features a sitting area and a huge walk-in closet. Master bath features double sinks, raised vanities, and separate shower and garden tub

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Pecos Manor

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Pecos Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9811981

* 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
Chaparral Elementary School Primary Regular 859 47 8
Chaparral Elementary School Middle Regular 859 47 8
Williams Field High School High Regular 1,705 64 7

Chaparral Elementary School

  • Education Level: Primary
  • # of students: 859
  • # of teachers: 47
8
GreatSchools Rating

Chaparral Elementary School

  • Education Level: Middle
  • # of students: 859
  • # of teachers: 47
8
GreatSchools Rating

Williams Field High School

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

$337,500$412,500$375,000

PURCHASE PRICE

$1,908$2,332$2,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,120
EXPENSES Loan Payment -$1,384
Property Tax -$256
Property Insurance -$87
HOA -$45
Property Management Fees -$99
CASH FLOW
$249

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.

$375,000

PROJECTED PRICE

$2,120

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 7.9%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,384

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

8.67

YEARS SAVED

$51,766

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,120

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $2,395

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$2,120
1$2,1202$2,1503$2,2954$2,4505$2,495
$2,495
RENT COMPS ANALYSIS
  • 3027 S Joshua Tree Lane Gilbert, AZ 1
    • 4 beds 3 baths ∙ 3,080 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,080 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,120
    • $0.69
    •  
  • 3839 E Yeager Drive Gilbert, AZ 2
    • 4 beds 3 baths ∙ 2,997 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,997 Sqft ∙ Built 2005
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.72
    •  
  • 3482 E Geronimo Court Gilbert, AZ 3
    • 4 beds 3 baths ∙ 2,900 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,900 Sqft ∙ Built 2003
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.79
    •  
  • 3287 E Geronimo Court Gilbert, AZ 4
    • 5 beds 3 baths ∙ 3,060 Sqft ∙ Built 2004 5 beds 3 baths ∙ 3,060 Sqft ∙ Built 2004
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.80
    •  
  • 3938 E Remington Drive Gilbert, AZ 5
    • 5 beds 3 baths ∙ 3,121 Sqft ∙ Built 2001 5 beds 3 baths ∙ 3,121 Sqft ∙ Built 2001
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.80
    •  
PROPERTY LISTING DETAILS
Matthew Mckenney
Re/max Excalibur
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6159967
Last Updated: 11/13/2020
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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