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2219 E Lakecrest Drive E Gilbert, AZ 85234

3 Beds 3 Baths 2,132 sqft Built 1989

$435,000

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

November 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $204.03
  • 8 Days on Market
  • MLS # : 6163823
  • Updated Date : 11/23/2020 at 08:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,132 sqft
  • Baths : 2 full , 1 half
Listing Agent

Case Realty, L.l.c.

Listing Agent's Description

Pristine Val Vista home! Located directly across from the quiet community pool so you don't have to maintain your own. The owner has kept this home in perfect condition. Large living room has dining area w vaulted ceilings and plenty of exterior light. Kitchen is open to family room and overlooks backyard. Family room has fireplace for winter gatherings. Powder room and laundry are close by. Master bedroom upstairs w large master bath suite w double sinks and separate toilet area and shower and tub. Second bedroom is separated by open loft from the third bedroom for privacy. Loft/Office area has wonderful natural light. Two car garage w plenty of space, Backyard is private w/o any houses behind or to the north. You have all the amenities that Val Vista Lakes has to offer the community.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Landing at Val Vista Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Landing at Val Vista Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9811981

* 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
 

$391,500$478,500$435,000

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$1,605
Property Tax -$256
Property Insurance -$69
HOA -$92
Property Management Fees -$99
CASH FLOW
-$260

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.

$435,000

PROJECTED PRICE

$1,860

PROJECTED RENT

0.43%

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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$121,025

INVESTMENT

$121,025

Down Payment
$108,750
Rehab Estimate
$5,750
Closing Costs
$6,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,605

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $108,750
Loan Amount $326,250
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$9,353

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,031

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7953$1,8604$2,1005$2,295
$2,295
RENT COMPS ANALYSIS
  • 2219 E Lakecrest Drive E Gilbert, AZ 3
    • 3 beds 3 baths ∙ 2,132 Sqft ∙ Built 1989 3 beds 3 baths ∙ 2,132 Sqft ∙ Built 1989
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.87
    •  
  • 1580 N Racine Court Gilbert, AZ 1
    • 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1999
    property image
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.92
    •  
  • 2249 E Santa Cruz Drive Gilbert, AZ 2
    • 4 beds 2 baths ∙ 2,226 Sqft ∙ Built 1991 4 beds 2 baths ∙ 2,226 Sqft ∙ Built 1991
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.81
    •  
  • 1510 E Beacon Drive Gilbert, AZ 4
    • 3 beds 3 baths ∙ 2,067 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,067 Sqft ∙ Built 1992
    property image
    LEASED 11/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.02
    •  
  • 2220 E Marquette Drive Gilbert, AZ 5
    • 4 beds 2 baths ∙ 2,163 Sqft ∙ Built 1994 4 beds 2 baths ∙ 2,163 Sqft ∙ Built 1994
    property image
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.06
    •  
PROPERTY LISTING DETAILS
Pamela Ellen Case
Case Realty, L.l.c.
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6163823
Last Updated: 11/23/2020
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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