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3053 S Joshua Tree Lane Gilbert, AZ 85295

3 Beds 3 Baths 1,767 sqft Built 2006

$384,900

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $217.83
  • 2 Days on Market
  • MLS # : 6200100
  • Updated Date : 02/28/2021 at 00:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,767 sqft
  • Baths : 2 full , 1 half
Listing Agent

Model Perfect Homes

Listing Agent's Description

Beautiful & Energy Efficient! This Home is Solar Powered with Programmable Thermostat (Energy Bills are Super Low!) Contemporary, Open Floorplan w/Spacious Family Room featuring Gas Fireplace, High Ceilings & Crown Molding. Kitchen features Tile Floors, Stainless Steel Appliances, including Brand New Built-in Microwave, Recessed Lighting, Large Pantry. Premium Window Coverings Throughout. LED Lighting save even more energy. Recently Painted inside & out. 2nd Guest Bedroom features Balcony, 3rd Guest Bedroom features Built-in Study Desk. Covered Patio is equipped with Mist System & Fan. Beautifully Designed Backyard featuring Putting Green, Plenty of Shade, and Pavers. Close to Schools, Shopping, San Tan Mall, Loop 202. BUYER INCENTIVES: Washer, Dryer, Refrigerator, Premium Home Warranty

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
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
 

$346,410$423,390$384,900

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$1,337
Property Tax -$263
Property Insurance -$62
HOA -$42
Property Management Fees -$99
CASH FLOW
-$122

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.

$384,900

PROJECTED PRICE

$1,680

PROJECTED RENT

0.44%

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

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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$107,749

INVESTMENT

$107,749

Down Payment
$96,225
Rehab Estimate
$5,750
Closing Costs
$5,774

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,337

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $96,225
Loan Amount $288,675
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$12,122

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,798

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,680
1$1,6802$1,6953$1,7504$1,7995$1,950
$1,950
RENT COMPS ANALYSIS
  • 3053 S Joshua Tree Lane Gilbert, AZ 1
    • 3 beds 3 baths ∙ 1,767 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,767 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.95
    •  
  • 3678 E Waite Lane Gilbert, AZ 2
    • 3 beds 3 baths ∙ 1,692 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,692 Sqft ∙ Built 2007
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.00
    •  
  • 3904 E Longhorn Drive Gilbert, AZ 3
    • 4 beds 2 baths ∙ 1,850 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,850 Sqft ∙ Built 2001
    LEASED 02/13/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.95
    •  
  • 3816 E Frances Lane Gilbert, AZ 4
    • 3 beds 2 baths ∙ 1,767 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,767 Sqft ∙ Built 2007
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,799
    • $1.02
    •  
  • 3955 E Fairview Street Gilbert, AZ 5
    • 3 beds 3 baths ∙ 1,767 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,767 Sqft ∙ Built 2005
    LEASED 09/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.10
    •  
PROPERTY LISTING DETAILS
Rich Giddings
Model Perfect Homes
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6200100
Last Updated: 02/28/2021
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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