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3956 E Narrowleaf Drive Gilbert, AZ 85298

5 Beds 3 Baths 2,905 sqft Built 2015

$500,000

List Price

$2,290

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $172.12
  • 3 Days on Market
  • MLS # : 6162899
  • Updated Date : 11/20/2020 at 15:25
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,905 sqft
  • Baths : 3 full
Listing Agent

Launch Real Estate

Listing Agent's Description

Welcome to the Bridges! After you drive through the waterfall entrance, you'll enter into this highly sought after neighborhood with green spaces, miles of trails and paths, play areas, splash pads, and more! This energy efficient home, built by Lennar offers a resort style backyard complete with private pool and spa! Inside you'll find two large living areas and open kitchen, perfect for entertaining! Great floor plan with full bed and bath downstairs. Upstairs offers an oversized loft and large master retreat with upgraded bathroom and large walk in shower plus 3 additional bedrooms. All of this close to the neighborhood top rated elementary school, gilbert regional park, shopping and freeway access!

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
 

$450,000$550,000$500,000

PURCHASE PRICE

$2,061$2,519$2,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,290
EXPENSES Loan Payment -$1,845
Property Tax -$334
Property Insurance -$84
HOA -$33
Property Management Fees -$99
CASH FLOW
-$105

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.

$500,000

PROJECTED PRICE

$2,290

PROJECTED RENT

0.46%

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

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$138,250

INVESTMENT

$138,250

Down Payment
$125,000
Rehab Estimate
$5,750
Closing Costs
$7,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,845

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $125,000
Loan Amount $375,000
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$24,609

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,290

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,397

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$2,225
1$2,2252$2,2903$2,3504$2,4505$2,724
$2,724
RENT COMPS ANALYSIS
  • 3956 E Narrowleaf Drive Gilbert, AZ 2
    • 5 beds 3 baths ∙ 2,905 Sqft ∙ Built 2015 5 beds 3 baths ∙ 2,905 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $0.79
    •  
  • 4140 E Sidewinder Court Gilbert, AZ 1
    • 5 beds 4 baths ∙ 2,744 Sqft ∙ Built 2003 5 beds 4 baths ∙ 2,744 Sqft ∙ Built 2003
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,225
    • $0.81
    •  
  • 3789 E Fruitvale Avenue Gilbert, AZ 3
    • 4 beds 3 baths ∙ 3,070 Sqft ∙ Built 2003 4 beds 3 baths ∙ 3,070 Sqft ∙ Built 2003
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.77
    •  
  • 4132 E Carriage Court Gilbert, AZ 4
    • 4 beds 3 baths ∙ 3,080 Sqft ∙ Built 2001 4 beds 3 baths ∙ 3,080 Sqft ∙ Built 2001
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.80
    •  
  • 3386 E Tiffany Court Gilbert, AZ 5
    • 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
    •  
PROPERTY LISTING DETAILS
Shannon Gillette
Launch Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6162899
Last Updated: 11/20/2020
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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