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3935 E Blue Spruce Lane Gilbert, AZ 85298

4 Beds 4 Baths 2,247 sqft Built 2015

$439,900

List Price

$2,110

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $195.77
  • 3 Days on Market
  • MLS # : 6163032
  • Updated Date : 11/22/2020 at 00:18
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,247 sqft
  • Baths : 3 full , 1 half
Listing Agent

My Home Group Real Estate

Listing Agent's Description

Looking for a View, & guest suite? Hard to find, Lennar Next Generation home with 4 beds, 3.5 baths, beautifully landscaped front and backyard. Spend your mornings enjoying the amazing view of San tan mountains! Inside you will find a flexible floorplan, neutral paint , a spacious loft , Open kitchen with plenty of cabinets, pantry, granite countertops, stainless steel appliances, a lovely island, and breakfast bar. You'll love the stunning master bedroom, with its spacious walk-in closet and full bath with double sinks, ideal for couples. Finally, the wonderful backyard includes a covered patio and a small gazebo, perfect for spending a relaxing summer evening! Come see this Gilbert gem!

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
 

$395,910$483,890$439,900

PURCHASE PRICE

$1,899$2,321$2,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,110
EXPENSES Loan Payment -$1,623
Property Tax -$297
Property Insurance -$71
HOA -$33
Property Management Fees -$99
CASH FLOW
-$14

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.

$439,900

PROJECTED PRICE

$2,110

PROJECTED RENT

0.48%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

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$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$122,324

INVESTMENT

$122,324

Down Payment
$109,975
Rehab Estimate
$5,750
Closing Costs
$6,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% 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 $109,975
Loan Amount $329,925
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$28,631

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,110

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $2,303

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$2,110
1$2,1102$2,1953$2,2004$2,3005$2,550
$2,550
RENT COMPS ANALYSIS
  • 3935 E Blue Spruce Lane Gilbert, AZ 1
    • 4 beds 4 baths ∙ 2,247 Sqft ∙ Built 2015 4 beds 4 baths ∙ 2,247 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,110
    • $0.94
    •  
  • 6251 S Legend Court Gilbert, AZ 2
    • 3 beds 2 baths ∙ 2,248 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,248 Sqft ∙ Built 2002
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.98
    •  
  • 5948 S Inez Drive Gilbert, AZ 3
    • 4 beds 2 baths ∙ 2,275 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,275 Sqft ∙ Built 2006
    LEASED 05/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.97
    •  
  • 3526 E Walnut Road Gilbert, AZ 4
    • 5 beds 3 baths ∙ 2,206 Sqft ∙ Built 2016 5 beds 3 baths ∙ 2,206 Sqft ∙ Built 2016
    LEASED 07/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.04
    •  
  • 3695 E Lodgepole Drive Gilbert, AZ 5
    • 4 beds 3 baths ∙ 2,289 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,289 Sqft ∙ Built 2015
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.11
    •  
PROPERTY LISTING DETAILS
Nathan Cannon
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6163032
Last Updated: 11/22/2020
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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