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221 E Vaughn Avenue Gilbert, AZ 85234

3 Beds 2 Baths 1,571 sqft Built 1993

$350,000

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1993
  • Price/Sqft : $222.79
  • 5 Days on Market
  • MLS # : 6154160
  • Updated Date : 11/01/2020 at 22:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,571 sqft
  • Baths : 2 full
Listing Agent

Mark Brower Properties, Llc

Listing Agent's Description

From the beautiful lakefront views, the wood fireplace in the living room, the spacious kitchen with beautiful cabinets and tons of storage- this home is a must see! Home is located on the lakefront with a private dock and large covered patio. The master bedroom en suite features a dual sinks, soaking tub, and walk in closet. There is something for everyone at Stonebridge Lakes, two beautiful community pool, playgrounds, etc- it's just a great place to call home!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Stonebridge Lakes Manor

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $83k337k

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

Neighborhood: Stonebridge Lakes Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8621890

* 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
Burk Elementary School Primary Regular 471 32 7
Burk Elementary School Middle Regular 471 32 7
Gilbert High School High Regular 2,470 113 7

Burk Elementary School

  • Education Level: Primary
  • # of students: 471
  • # of teachers: 32
7
GreatSchools Rating

Burk Elementary School

  • Education Level: Middle
  • # of students: 471
  • # of teachers: 32
7
GreatSchools Rating

Gilbert High School

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

$315,000$385,000$350,000

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$1,291
Property Tax -$206
Property Insurance -$58
HOA -$25
Property Management Fees -$99
CASH FLOW
-$149

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.

$350,000

PROJECTED PRICE

$1,530

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 7.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$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$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$12,735

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,701

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5303$1,6954$1,7505$1,850
$1,850
RENT COMPS ANALYSIS
  • 221 E Vaughn Avenue Gilbert, AZ 2
    • 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $0.97
    •  
  • 170 E Guadalupe Road #80 Gilbert, AZ 1
    • 3 beds 3 baths ∙ 1,430 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,430 Sqft ∙ Built 1986
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.05
    •  
  • 476 N Alder Court Gilbert, AZ 3
    • 3 beds 3 baths ∙ 1,572 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,572 Sqft ∙ Built 2005
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.08
    •  
  • 158 W Commerce Court #39 Gilbert, AZ 4
    • 3 beds 3 baths ∙ 1,572 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,572 Sqft ∙ Built 2004
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.11
    •  
  • 230 E Tremaine Avenue Gilbert, AZ 5
    • 3 beds 2 baths ∙ 1,696 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,696 Sqft ∙ Built 1985
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.09
    •  
PROPERTY LISTING DETAILS
Mark Brower
Mark Brower Properties, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6154160
Last Updated: 11/01/2020
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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