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842 W Cooley Drive Gilbert, AZ 85233

3 Beds 2 Baths 1,631 sqft Built 1996

$380,000

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $232.99
  • 5 Days on Market
  • MLS # : 6177461
  • Updated Date : 01/06/2021 at 15:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,631 sqft
  • Baths : 2 full
Listing Agent

Sterling Fine Properties

Listing Agent's Description

Newly updated home with private back yard surrounded by citrus trees and sporting an outdoor fireplace for year around enjoyment.ALSO RECENTLY UPDATED: ceiling lights in living room, dining and kitchen area / pavers on patio and around of the house / pool security gates / quartz counters in the kitchen AND tiling replacing carpeting.BEAUTIFUL FIRST CLASS NEIGHBORHOOD NEAR FANTASTIC SHOPPING AND MINUTES FROM FREEWAY.Just move in and enjoy life!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Kaufman and Broad at Cooper Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Kaufman and Broad at Cooper Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9251981

* 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
Oak Tree Elementary School Primary Regular 675 40 6
Mesquite Jr High School Middle Regular 715 34 7
Mesquite High School High Regular 2,000 82 6

Oak Tree Elementary School

  • Education Level: Primary
  • # of students: 675
  • # of teachers: 40
6
GreatSchools Rating

Mesquite Jr High School

  • Education Level: Middle
  • # of students: 715
  • # of teachers: 34
7
GreatSchools Rating

Mesquite High School

  • Education Level: High
  • # of students: 2,000
  • # of teachers: 82
6
GreatSchools Rating
 

$342,000$418,000$380,000

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$1,320
Property Tax -$223
Property Insurance -$59
HOA -$11
Property Management Fees -$99
CASH FLOW
$217

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.

$380,000

PROJECTED PRICE

$1,930

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.8%
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$1.4M

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,450

INVESTMENT

$106,450

Down Payment
$95,000
Rehab Estimate
$5,750
Closing Costs
$5,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,320

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $95,000
Loan Amount $285,000
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$42,439

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,930

    LIST RENT
  • $1.18

    LIST RENT PER SQFT
  • $1,741

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,6503$1,7504$1,7955$1,930
$1,930
RENT COMPS ANALYSIS
  • 842 W Cooley Drive Gilbert, AZ 5
    • 3 beds 2 baths ∙ 1,631 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,631 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $1.18
    •  
  • 928 W Aspen Way Gilbert, AZ 1
    • 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 2004
    property image
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.99
    •  
  • 921 N Kingston Street Gilbert, AZ 2
    • 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 1995
    property image
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.05
    •  
  • 514 W Desert Avenue W Gilbert, AZ 3
    • 3 beds 2 baths ∙ 1,674 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,674 Sqft ∙ Built 1997
    property image
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.05
    •  
  • 1206 N Charles Street Gilbert, AZ 4
    • 3 beds 2 baths ∙ 1,527 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,527 Sqft ∙ Built 1994
    property image
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.18
    •  
PROPERTY LISTING DETAILS
Mark S Polacek
Sterling Fine Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6177461
Last Updated: 01/06/2021
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. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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