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3661 E Narrowleaf Drive Gilbert, AZ 85298

4 Beds 3 Baths 2,941 sqft Built 2016

$615,000

List Price

$2,550

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $209.11
  • 2 Days on Market
  • MLS # : 6181720
  • Updated Date : 01/16/2021 at 21:52
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,941 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Solutions

Listing Agent's Description

A must see 3 bed + den, 2.5 bath home in the desirable Bridges Community! Beautiful interior offers many custom upgrades. Open floor plan featuring a sliding wall of glass out to patio, real brick accent walls, formal dining room, plantation shutters, crown molding, custom trim work, an abundance of natural light, and much more. The den could easily be converted into the 4th bedroom! Open concept kitchen includes SS appliances, walk-in pantry, coffee bar, large island with breakfast bar & pendant lighting, plethora of cabinets, and granite counters. You'll love the master bedroom featuring a lavish bath with soaking tub, his & her sinks, glass enclosure shower, and a custom walk-in closet. The guest bedrooms

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Bridges at Gilbert

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400kPrice in $91k424k

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

Neighborhood: Bridges at Gilbert

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10362234

* 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
Power Ranch Elementary School Primary Regular 713 34 10
Power Ranch Elementary School Middle Regular 713 34 10
Higley High School High Regular 1,596 70 7

Power Ranch Elementary School

  • Education Level: Primary
  • # of students: 713
  • # of teachers: 34
10
GreatSchools Rating

Power Ranch Elementary School

  • Education Level: Middle
  • # of students: 713
  • # of teachers: 34
10
GreatSchools Rating

Higley High School

  • Education Level: High
  • # of students: 1,596
  • # of teachers: 70
7
GreatSchools Rating
 

$553,500$676,500$615,000

PURCHASE PRICE

$2,295$2,805$2,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,550
EXPENSES Loan Payment -$2,136
Property Tax -$411
Property Insurance -$84
HOA -$33
Property Management Fees -$99
CASH FLOW
-$214

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.

$615,000

PROJECTED PRICE

$2,550

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 12.4%
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$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$168,725

INVESTMENT

$168,725

Down Payment
$153,750
Rehab Estimate
$5,750
Closing Costs
$9,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,136

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $153,750
Loan Amount $461,250
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$18,398

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,550

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,787

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$2,550
1$2,5502$2,6203$2,6504$2,7245$3,200
$3,200
RENT COMPS ANALYSIS
  • 3661 E Narrowleaf Drive Gilbert, AZ 1
    • 4 beds 3 baths ∙ 2,941 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,941 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.87
    •  
  • 2559 E Penedes Drive Gilbert, AZ 2
    • 4 beds 3 baths ∙ 3,039 Sqft ∙ Built 2012 4 beds 3 baths ∙ 3,039 Sqft ∙ Built 2012
    LEASED 07/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,620
    • $0.86
    •  
  • 3567 E Chestnut Lane Gilbert, AZ 3
    • 3 beds 3 baths ∙ 2,713 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,713 Sqft ∙ Built 2014
    LEASED 09/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.98
    •  
  • 3386 E Tiffany Court Gilbert, AZ 4
    • 4 beds 3 baths ∙ 2,972 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,972 Sqft ∙ Built 2015
    LEASED 08/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,724
    • $0.92
    •  
  • 3522 E Tiffany Way Gilbert, AZ 5
    • 4 beds 3 baths ∙ 3,095 Sqft ∙ Built 2016 4 beds 3 baths ∙ 3,095 Sqft ∙ Built 2016
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.03
    •  
PROPERTY LISTING DETAILS
Laura Mcghee
Re/max Solutions
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6181720
Last Updated: 01/16/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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