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4275 E Bruce Court Gilbert, AZ 85234

4 Beds 3 Baths 2,126 sqft Built 2007

$424,500

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $199.67
  • 3 Days on Market
  • MLS # : 6202904
  • Updated Date : 03/06/2021 at 15:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,126 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Don't miss this Morrison Ranch farmhouse beauty- 4 Bedrooms, office & loft space/ 2.5 bathrooms nice options for additional work and play spaces! Open great room floorplan with large family room. Check out the restoration look light fixtures downstairs. Very well maintained & turn-key, no work needed here. Enjoy beautiful evenings on your front porch or back patio- tree lined streets and grass yards feels a little like the country but yet centrally located. Neighborhood park/lake at the end of the cul de sac- great location. Excellent Gilbert Schools, shopping and nearby freeway access.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Highland Groves at Morrison Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $122k405k

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

Neighborhood: Highland Groves at Morrison Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10362025

* 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
Greenfield Junior High School Middle Regular 917 44 9
Highland High School High Regular 3,065 123 8
Highland Jr High School Middle Unknown NA

Greenfield Junior High School

  • Education Level: Middle
  • # of students: 917
  • # of teachers: 44
9
GreatSchools Rating

Highland High School

  • Education Level: High
  • # of students: 3,065
  • # of teachers: 123
8
GreatSchools Rating

Highland Jr High School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$382,050$466,950$424,500

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$1,474
Property Tax -$263
Property Insurance -$69
HOA -$37
Property Management Fees -$99
CASH FLOW
-$2

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.

$424,500

PROJECTED PRICE

$1,940

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.5%
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$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$118,243

INVESTMENT

$118,243

Down Payment
$106,125
Rehab Estimate
$5,750
Closing Costs
$6,368

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,474

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $106,125
Loan Amount $318,375
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$23,520

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,121

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,940
1$1,9402$1,9953$1,9954$2,0205$2,395
$2,395
RENT COMPS ANALYSIS
  • 4275 E Bruce Court Gilbert, AZ 1
    • 4 beds 3 baths ∙ 2,126 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,126 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.91
    •  
  • 3636 E Bruce Avenue Gilbert, AZ 2
    • 4 beds 3 baths ∙ 2,127 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,127 Sqft ∙ Built 2001
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.94
    •  
  • 3616 E Linda Lane Gilbert, AZ 3
    • 4 beds 3 baths ∙ 2,127 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,127 Sqft ∙ Built 2000
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.94
    •  
  • 691 N Sparrow Court Gilbert, AZ 4
    • 3 beds 3 baths ∙ 2,058 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,058 Sqft ∙ Built 2018
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,020
    • $0.98
    •  
  • 4271 E Park Avenue Gilbert, AZ 5
    • 4 beds 3 baths ∙ 2,126 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,126 Sqft ∙ Built 2008
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.13
    •  
PROPERTY LISTING DETAILS
Stephanie Wyatt-francis
Coldwell Banker Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6202904
Last Updated: 03/06/2021
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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