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925 N Jamaica Way Gilbert, AZ 85234

4 Beds 3 Baths 2,441 sqft Built 1994

$499,900

List Price

$2,490

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $204.79
  • 2 Days on Market
  • MLS # : 6176441
  • Updated Date : 01/02/2021 at 22:20
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,441 sqft
  • Baths : 3 full
Listing Agent

Desert 2 Mountain Realty

Listing Agent's Description

THIS BEAUTIFUL TURN KEY HOME UPGRADED HOME IN VAL VISTA LAKES. THIS AMAZING HOME FEATURES FORMAL LIVING AND DINING ROOM WITH VAULTED CEILINGS..FAMILY ROOM WITH OPEN KITCHEN, BREAKFAST NOOK, KITCHEN ISLAND, PANTRY, UPGRADED BATHROOMS, AN ENTERTAINERS PARIDISE BACKYARD, BEAUTIFUL POOL WITH WATERFALL, BUILT IN BBQ, MANY FIRE BOWLS, CUSTOM BEEHIVE TIKI HEAD FIREPLACE, PAPALAS, MIST SYSTEM, CUSTOM MERMAID FOUNTAIN WATER FEATURE, COVERED PATIOS, DOG RUN WITH SYNTHETIC GRASS, CITRUS TREES, FAMILY ROOM WITH SCREEN AND PROJECTOR, WIRED FOR SURROUND SOUND, FIREPLACE, 18'' TILE, LARGE MASTER BEDROOM WITH BALCONY LOOKING OUT TOWARD THE SUPERSITION MOUNTAINS...THIS IS AN AMAZAING HOME IS ARIZONA LIVING AT ITS BEST...MUST SEE BEFORE IT IS GONE....

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PRICE & RENT TRENDS

Neighborhood: Runaway Bay

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $122k392k

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

Neighborhood: Runaway Bay

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10362202

* 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
Val Vista Lakes Elementary School Primary Regular 544 35 6
Highland Jr High School Middle Regular 1,269 59 8
Highland High School High Regular 3,065 123 8

Val Vista Lakes Elementary School

  • Education Level: Primary
  • # of students: 544
  • # of teachers: 35
6
GreatSchools Rating

Highland Jr High School

  • Education Level: Middle
  • # of students: 1,269
  • # of teachers: 59
8
GreatSchools Rating

Highland High School

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

$449,910$549,890$499,900

PURCHASE PRICE

$2,241$2,739$2,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,490
EXPENSES Loan Payment -$1,844
Property Tax -$294
Property Insurance -$75
HOA -$98
Property Management Fees -$99
CASH FLOW
$80

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.

$499,900

PROJECTED PRICE

$2,490

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.1%
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$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,224

INVESTMENT

$138,224

Down Payment
$124,975
Rehab Estimate
$5,750
Closing Costs
$7,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,844

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $124,975
Loan Amount $374,925
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$41,773

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,490

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $2,484

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,4903$2,5004$2,5955$2,650
$2,650
RENT COMPS ANALYSIS
  • 925 N Jamaica Way Gilbert, AZ 2
    • 4 beds 3 baths ∙ 2,441 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,441 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $2,490
    • $1.02
    •  
  • 1256 N Banning Street Gilbert, AZ 1
    • 4 beds 2 baths ∙ 2,454 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,454 Sqft ∙ Built 1997
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.96
    •  
  • 2174 E New Bedford Drive Gilbert, AZ 3
    • 5 beds 3 baths ∙ 2,527 Sqft ∙ Built 1988 5 beds 3 baths ∙ 2,527 Sqft ∙ Built 1988
    LEASED 12/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.99
    •  
  • 1156 N Fiji Way Gilbert, AZ 4
    • 5 beds 3 baths ∙ 2,538 Sqft ∙ Built 1991 5 beds 3 baths ∙ 2,538 Sqft ∙ Built 1991
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $1.02
    •  
  • 2066 E La Salle Way Gilbert, AZ 5
    • 3 beds 3 baths ∙ 2,400 Sqft ∙ Built 1993 3 beds 3 baths ∙ 2,400 Sqft ∙ Built 1993
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.10
    •  
PROPERTY LISTING DETAILS
Kelly Winiesdorffer
Desert 2 Mountain Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6176441
Last Updated: 01/02/2021
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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