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983 E Narrowleaf Court Gilbert, AZ 85298

5 Beds 3 Baths 3,050 sqft Built 2006

$475,000

List Price

$2,440

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $155.74
  • 3 Days on Market
  • MLS # : 6190272
  • Updated Date : 02/06/2021 at 15:02
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,050 sqft
  • Baths : 3 full
Listing Agent

My Home Group Real Estate

Listing Agent's Description

WOW, come see this amazing home that will not last long! Need a place for all your entertaining, this floor plan has it all! The minute you step you will fall in love with the gorgeous wood/ wrought iron staircase, dramatic vaulted ceilings in the formal living & dinning room. Upstairs 4 bedroom + loft, 2 baths. Downstairs 1 bedroom w/ full bath. Spacious kitchen offers granite countertops, kitchen island, gas range, walk in pantry, upgraded cabinets, water softener, security system, central vacuum system, pre-plumbed for gas for BBQ for just relaxing in the backyard or just walk across the street to the park on this quiet cul-de-sac street to enjoy the fantastic Arizona weather. Just minutes from top rated Chandler schools. newer shopping, restaurants and quick freeway access.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Felty Farms

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $122k422k

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

Neighborhood: Felty Farms

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10362125

* 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
Payne Junior High School Middle Regular 1,518 70 9
Perry High School High Regular 3,194 142 7
Perry High School High Unknown NA

Payne Junior High School

  • Education Level: Middle
  • # of students: 1,518
  • # of teachers: 70
9
GreatSchools Rating

Perry High School

  • Education Level: High
  • # of students: 3,194
  • # of teachers: 142
7
GreatSchools Rating

Perry High School

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

$427,500$522,500$475,000

PURCHASE PRICE

$2,196$2,684$2,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,440
EXPENSES Loan Payment -$1,650
Property Tax -$332
Property Insurance -$87
HOA -$70
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.

$475,000

PROJECTED PRICE

$2,440

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 0.8%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,650

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$43,947

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,440

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,745

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,4403$2,7504$2,7955$2,850
$2,850
RENT COMPS ANALYSIS
  • 983 E Narrowleaf Court Gilbert, AZ 2
    • 5 beds 3 baths ∙ 3,050 Sqft ∙ Built 2006 5 beds 3 baths ∙ 3,050 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,440
    • $0.80
    •  
  • 1136 E Blue Spruce Lane Gilbert, AZ 1
    • 5 beds 3 baths ∙ 2,774 Sqft ∙ Built 2012 5 beds 3 baths ∙ 2,774 Sqft ∙ Built 2012
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.79
    •  
  • 4622 S Onyx Drive Chandler, AZ 3
    • 4 beds 3 baths ∙ 3,056 Sqft ∙ Built 2010 4 beds 3 baths ∙ 3,056 Sqft ∙ Built 2010
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.90
    •  
  • 3499 E Desert Broom Drive Chandler, AZ 4
    • 4 beds 3 baths ∙ 2,981 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,981 Sqft ∙ Built 2017
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $0.94
    •  
  • 1131 E Bajor Street Gilbert, AZ 5
    • 5 beds 3 baths ∙ 2,948 Sqft ∙ Built 2014 5 beds 3 baths ∙ 2,948 Sqft ∙ Built 2014
    LEASED 09/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.97
    •  
PROPERTY LISTING DETAILS
Julie Rogers
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6190272
Last Updated: 02/06/2021
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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