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3950 E Turley Street Gilbert, AZ 85295

3 Beds 3 Baths 1,985 sqft Built 2017

$400,000

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2017
  • Price/Sqft : $201.51
  • 3 Days on Market
  • MLS # : 6157308
  • Updated Date : 11/06/2020 at 16:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,985 sqft
  • Baths : 2 full , 1 half
Listing Agent

Newman Realty, Llc

Listing Agent's Description

Beautiful gently used, low maintenance home now for sale in the heart of Gilbert. This 3 year young home offers open great room and courtyard off kitchen on the main level, 3 large bedrooms, laundry and loft space upstairs. Private courtyard with rock landscaping for lock and leave lifestyle in one of Gilberts favorite neighborhoods. Cooley Station Parcel 15 features huge community pool, playgrounds, grass spaces, pickleball, and 1/2 court basketball. New Fry's down just down the street and development coming into the Verde project. Check this beautiful home out before it's gone!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Gilbert

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Gilbert

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10361987

* 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
 

$360,000$440,000$400,000

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,476
Property Tax -$273
Property Insurance -$66
HOA -$134
Property Management Fees -$99
CASH FLOW
-$148

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.

$400,000

PROJECTED PRICE

$1,900

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.0%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$13,586

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,896

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7503$1,8954$1,9005$1,900
$1,900
RENT COMPS ANALYSIS
  • 3950 E Turley Street Gilbert, AZ 5
    • 3 beds 3 baths ∙ 1,985 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,985 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.96
    •  
  • 3837 E Robert Street Gilbert, AZ 1
    • 3 beds 3 baths ∙ 1,944 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,944 Sqft ∙ Built 2018
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.90
    •  
  • 4085 E Vest Avenue Gilbert, AZ 2
    • 3 beds 3 baths ∙ 1,883 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,883 Sqft ∙ Built 2008
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.93
    •  
  • 3879 E Robert Street Gilbert, AZ 3
    • 3 beds 3 baths ∙ 1,944 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,944 Sqft ∙ Built 2017
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.97
    •  
  • 3872 E Welton Lane Gilbert, AZ 4
    • 3 beds 2 baths ∙ 1,866 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,866 Sqft ∙ Built 2017
    LEASED 12/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.02
    •  
PROPERTY LISTING DETAILS
Mark Newman
Newman Realty, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6157308
Last Updated: 11/06/2020
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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