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233 E Vaughn Avenue Gilbert, AZ 85234

3 Beds 3 Baths 2,027 sqft Built 1992

$480,000

List Price

$1,840

$1.7K - $2K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1992
  • Price/Sqft : $236.80
  • 2 Days on Market
  • MLS # : 6154791
  • Updated Date : 11/02/2020 at 16:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,027 sqft
  • Baths : 3 full
Listing Agent

Homesmart

Listing Agent's Description

**WALKING DISTANCE TO DOWNTOWN GILBERT*** Prepare to be amazed! Come and see this lavish 3 bed, 3 bath waterfront property now for sale in Gilbert! Featuring a 2 car garage and a gorgeous interior with vaulted ceilings, formal dining and living areas, a cozy fireplace, and designer paint throughout. The luxurious kitchen has ample cabinetry, pantry, granite countertops, tile backsplash, matching stainless steel appliances, and a small breakfast bar. The master bedroom boasts a private balcony entry, a spacious walk-in closet, and a full bath with double sinks, as well as separate tub and shower. Also including a cozy backyard with a covered patio, fire pit, and a lovely gazebo, this home simply has it all!!

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
 

$432,000$528,000$480,000

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,840
EXPENSES Loan Payment -$1,771
Property Tax -$282
Property Insurance -$67
HOA -$25
Property Management Fees -$99
CASH FLOW
-$404

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.

$480,000

PROJECTED PRICE

$1,840

PROJECTED RENT

0.38%

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$1.2M$1.4M

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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$132,950

INVESTMENT

$132,950

Down Payment
$120,000
Rehab Estimate
$5,750
Closing Costs
$7,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,771

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $120,000
Loan Amount $360,000
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$5,613

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,840

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,956

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7003$1,8404$1,8805$1,895
$1,895
RENT COMPS ANALYSIS
  • 233 E Vaughn Avenue Gilbert, AZ 3
    • 3 beds 3 baths ∙ 2,027 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,027 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $0.91
    •  
  • 255 E Rawhide Avenue Gilbert, AZ 1
    • 4 beds 2 baths ∙ 1,868 Sqft ∙ Built 1997 4 beds 2 baths ∙ 1,868 Sqft ∙ Built 1997
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.91
    •  
  • 1040 N Palm Street Gilbert, AZ 2
    • 4 beds 2 baths ∙ 1,864 Sqft ∙ Built 1988 4 beds 2 baths ∙ 1,864 Sqft ∙ Built 1988
    LEASED 03/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.91
    •  
  • 901 E Cullumber Street Gilbert, AZ 4
    • 3 beds 3 baths ∙ 1,884 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,884 Sqft ∙ Built 1986
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $1.00
    •  
  • 245 E Vaughn Avenue Gilbert, AZ 5
    • 3 beds 3 baths ∙ 1,821 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,821 Sqft ∙ Built 1993
    LEASED 06/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.04
    •  
PROPERTY LISTING DETAILS
Theresa Snider
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6154791
Last Updated: 11/02/2020
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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