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7947 S Abbey Lane Gilbert, AZ 85298

3 Beds 2 Baths 1,734 sqft Built 2014

$399,900

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $230.62
  • 2 Days on Market
  • MLS # : 6183889
  • Updated Date : 01/23/2021 at 05:53
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,734 sqft
  • Baths : 2 full
Listing Agent

Re/max Professionals

Listing Agent's Description

Adorable single level home is now on the market in popular Gilbert! You'll absolutely love the easy care desert front landscaping. As you enter this lovely house, you will be greeted by a bright and welcoming interior complete w/gorgeous wood-like tile, roomy bedrooms, vaulted ceilings, several windows that bring in so much light, living and dining area, and a perfectly sized den. Enjoy cooking your favorite recipes in this spotless eat-in kitchen offering high-end appliances, granite counter-tops, breakfast bar, pantry, recessed lighting, and back-splash. The main bedroom gives you a lavish bathroom w/glass step-in shower, dual sinks, a tub, and walk-in closet. Enjoy your gatherings in this private backyard w/covered patio, fire-pit, and pavers. Look no more. Call today!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Mountainwood

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $122k386k

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

Neighborhood: Mountainwood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10362150

* 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
Patterson Elementary School Primary Regular 959 49 9
Patterson Elementary School Middle Regular 959 49 9
Basha High School High Regular 2,646 125 8

Patterson Elementary School

  • Education Level: Primary
  • # of students: 959
  • # of teachers: 49
9
GreatSchools Rating

Patterson Elementary School

  • Education Level: Middle
  • # of students: 959
  • # of teachers: 49
9
GreatSchools Rating

Basha High School

  • Education Level: High
  • # of students: 2,646
  • # of teachers: 125
8
GreatSchools Rating
 

$359,910$439,890$399,900

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$1,389
Property Tax -$279
Property Insurance -$61
HOA -$104
Property Management Fees -$99
CASH FLOW
-$202

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.

$399,900

PROJECTED PRICE

$1,730

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.8%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$111,724

INVESTMENT

$111,724

Down Payment
$99,975
Rehab Estimate
$5,750
Closing Costs
$5,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,975
Loan Amount $299,925
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$7,691

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,907

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,7803$1,8504$1,8755$1,995
$1,995
RENT COMPS ANALYSIS
  • 7947 S Abbey Lane Gilbert, AZ 1
    • 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2171 E Stacey Road Gilbert, AZ 2
    • 4 beds 2 baths ∙ 1,734 Sqft ∙ Built 2014 4 beds 2 baths ∙ 1,734 Sqft ∙ Built 2014
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $1.03
    •  
  • 2247 E Hazeltine Way Gilbert, AZ 3
    • 3 beds 2 baths ∙ 1,569 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,569 Sqft ∙ Built 2014
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.18
    •  
  • 2151 E Stacey Road Gilbert, AZ 4
    • 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 2014
    LEASED 02/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $1.08
    •  
  • 2418 E Brigadier Drive Gilbert, AZ 5
    • 3 beds 2 baths ∙ 1,794 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,794 Sqft ∙ Built 2018
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.11
    •  
PROPERTY LISTING DETAILS
Anuoluwa Ekunwe
Re/max Professionals
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6183889
Last Updated: 01/23/2021
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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