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1679 E Hearne Way Gilbert, AZ 85234

5 Beds 4 Baths 3,541 sqft Built 1999

$520,000

List Price

$2,880

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $146.85
  • 3 Days on Market
  • MLS # : 6165260
  • Updated Date : 11/27/2020 at 11:11
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,541 sqft
  • Baths : 3 full , 1 half
Listing Agent

My Home Group Real Estate

Listing Agent's Description

This Val Vista Meadows offers an abundance of space as you enter the formal living and dining area then into an airy and spacious family room. Beautiful kitchen offers refinished cabinetry plus convenient lower pull out-shelves, under cabinet lighting, breakfast bar, a galore of granite counters, wall ovens, and pantry. The downstairs Master Suite boasts striking laminate flooring, an exit to a lush backyard, en suite bath with new custom shower enclosure, separate tub and water closet and a generously sized walk-in closet. Dual entry stairway guides you to the loft area, 4 more bedrooms and a den. Full Jack and Jill bath combine 2 huge bedrooms + an additional en suite guest room as well. Lush landscaping surrounds the sparkling pebble tec pool w/ waterfall and...

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Val Vista Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $122k427k

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

Neighborhood: Val Vista Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000210022002300Rent in $10362329

* 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
Sonoma Ranch Elementary School Primary Regular 510 36 8
Greenfield Junior High School Middle Regular 917 44 9
Gilbert High School High Regular 2,470 113 7

Sonoma Ranch Elementary School

  • Education Level: Primary
  • # of students: 510
  • # of teachers: 36
8
GreatSchools Rating

Greenfield Junior High School

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

Gilbert High School

  • Education Level: High
  • # of students: 2,470
  • # of teachers: 113
7
GreatSchools Rating
 

$468,000$572,000$520,000

PURCHASE PRICE

$2,592$3,168$2,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,880
EXPENSES Loan Payment -$1,919
Property Tax -$306
Property Insurance -$96
HOA -$65
Property Management Fees -$99
CASH FLOW
$396

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.

$520,000

PROJECTED PRICE

$2,880

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.3%
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$1.8M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k

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$143,550

INVESTMENT

$143,550

Down Payment
$130,000
Rehab Estimate
$5,750
Closing Costs
$7,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,919

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $130,000
Loan Amount $390,000
See What Happens When You Reinvest Cash Flow

9.42

YEARS SAVED

$79,994

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,880

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $3,222

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$2,8803$3,650
$3,650
RENT COMPS ANALYSIS
  • 1679 E Hearne Way Gilbert, AZ 2
    • 5 beds 4 baths ∙ 3,541 Sqft ∙ Built 1999 5 beds 4 baths ∙ 3,541 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,880
    • $0.81
    •  
  • 345 N Date Palm Drive Gilbert, AZ 1
    • 5 beds 4 baths ∙ 3,541 Sqft ∙ Built 1999 5 beds 4 baths ∙ 3,541 Sqft ∙ Built 1999
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.79
    •  
  • 2526 E Park Avenue Gilbert, AZ 3
    • 5 beds 4 baths ∙ 3,539 Sqft ∙ Built 2001 5 beds 4 baths ∙ 3,539 Sqft ∙ Built 2001
    property image
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,650
    • $1.03
    •  
PROPERTY LISTING DETAILS
Tim Cline
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6165260
Last Updated: 11/27/2020
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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