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3284 E Morning Star Lane Gilbert, AZ 85298

3 Beds 3 Baths 1,675 sqft Built 2007

$371,900

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $222.03
  • 4 Days on Market
  • MLS # : 6189770
  • Updated Date : 02/04/2021 at 18:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,675 sqft
  • Baths : 2 full , 1 half
Listing Agent

Zillow Homes Inc

Listing Agent's Description

Fall in love with the layout of this charming 3 bedroom, 2.5 bathroom home! The kitchen and living space share a welcoming open layout that is perfect for entertaining friends and family. The kitchen features beautiful cabinetry, a large island, and tons of counter space to cook your favorite meals. After a long day, head upstairs to the primary bedroom suite with its walk-in closet and a private bathroom with double vanity sinks and a separate soaking tub. Outdoor activity is easy to get to with Seville Golf & Country Club less than 10 minutes away, Trilogy Golf Club just 10 minutes away, and San Tan Mountain Regional Park just over 20 minutes away!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Seville

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $122k388k

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

Neighborhood: Seville

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10362109

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

SCHOOLS

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$334,710$409,090$371,900

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$1,292
Property Tax -$260
Property Insurance -$60
HOA -$12
Property Management Fees -$99
CASH FLOW
-$162

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.

$371,900

PROJECTED PRICE

$1,560

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.2%
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

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$104,304

INVESTMENT

$104,304

Down Payment
$92,975
Rehab Estimate
$5,750
Closing Costs
$5,579

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,292

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,975
Loan Amount $278,925
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$9,347

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,675

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,6503$1,7494$1,7955$1,850
$1,850
RENT COMPS ANALYSIS
  • 3284 E Morning Star Lane Gilbert, AZ 1
    • 3 beds 3 baths ∙ 1,675 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,675 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 7052 S Bridal Vail Drive Gilbert, AZ 2
    • 3 beds 2 baths ∙ 1,664 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,664 Sqft ∙ Built 2005
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.99
    •  
  • 3285 E Meadowview Drive Gilbert, AZ 3
    • 3 beds 3 baths ∙ 1,675 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,675 Sqft ∙ Built 2008
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,749
    • $1.04
    •  
  • 3231 E Sports Drive Gilbert, AZ 4
    • 3 beds 3 baths ∙ 1,857 Sqft ∙ Built 2010 3 beds 3 baths ∙ 1,857 Sqft ∙ Built 2010
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.97
    •  
  • 3279 E Morning Star Lane Gilbert, AZ 5
    • 3 beds 3 baths ∙ 1,857 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,857 Sqft ∙ Built 2007
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.00
    •  
PROPERTY LISTING DETAILS
Yvonne C Bondanza-whittaker
Zillow Homes Inc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6189770
Last Updated: 02/04/2021
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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