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2326 E Lakecrest Drive Gilbert, AZ 85234

3 Beds 2 Baths 1,708 sqft Built 1988

$390,000

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $228.34
  • 2 Days on Market
  • MLS # : 6196899
  • Updated Date : 02/27/2021 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,708 sqft
  • Baths : 1 full , 1 half
Listing Agent

Russ Lyon Sotheby's International Realty

Listing Agent's Description

This bright & open 3 bed / 1.75 bath sits on a corner lot in the beautiful community of Val Vista Lakes & could be your new home! The home boasts plenty of natural light, a spacious living area, high ceilings, a wood burning fireplace, upgraded fans & plenty of room to lounge. The chef's kitchen features black appliances, a stainless steel microwave, ample cabinet space & a center island. The backyard showcases lush grass, a built in pond / water feature & side yard space! The 2 car garage & complete laundry room offer extra cabinets for storage. Don't miss your chance on this amazing home!

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
Highland Jr High School Middle Regular 1,269 59 8
Highland High School High Regular 3,065 123 8
Greenfield Junior High School Middle Unknown NA

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

Greenfield Junior High School

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

$351,000$429,000$390,000

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$1,355
Property Tax -$229
Property Insurance -$60
HOA -$31
Property Management Fees -$99
CASH FLOW
$165

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.

$390,000

PROJECTED PRICE

$1,940

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

PROJECTED ANNUAL CASH FLOW

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

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$109,100

INVESTMENT

$109,100

Down Payment
$97,500
Rehab Estimate
$5,750
Closing Costs
$5,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,355

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $97,500
Loan Amount $292,500
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$37,194

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $1.14

    LIST RENT PER SQFT
  • $1,947

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9403$1,9954$1,9995$2,000
$2,000
RENT COMPS ANALYSIS
  • 2326 E Lakecrest Drive Gilbert, AZ 2
    • 3 beds 2 baths ∙ 1,708 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,708 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $1.14
    •  
  • 2231 E Lakecrest Drive Gilbert, AZ 1
    • 3 beds 2 baths ∙ 1,708 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,708 Sqft ∙ Built 1990
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.08
    •  
  • 1321 N Malibu Lane Gilbert, AZ 3
    • 3 beds 2 baths ∙ 1,744 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,744 Sqft ∙ Built 1997
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.14
    •  
  • 2709 E Michelle Way Gilbert, AZ 4
    • 3 beds 2 baths ∙ 1,840 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,840 Sqft ∙ Built 2001
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,999
    • $1.09
    •  
  • 1353 N Jamaica Way Gilbert, AZ 5
    • 3 beds 2 baths ∙ 1,604 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,604 Sqft ∙ Built 1989
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.25
    •  
PROPERTY LISTING DETAILS
David Arustamian
Russ Lyon Sotheby's International Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6196899
Last Updated: 02/27/2021
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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