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3481 E Lexington Court Gilbert, AZ 85234

4 Beds 3 Baths 2,490 sqft Built 2000

INVESTimate

$464,895

List Price

$2,100

$1,890 - $2,310

Rent Est.

$489,023  ( +5.19%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 2000
  • Price/Sqft : $186.70
  • 4 Days on Market
  • MLS # : 6121565
  • Updated Date : 08/24/2020 at 15:43
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,490 sqft
  • Baths : 3 full
Listing Agent

Homie

Listing Agent's Description

Wow! Located in the highly desirable Morrison Ranch neighborhood with tree lined streets & multiple parks. This home has beautiful New Tile, Granite Counter-tops throughout, Updated Fans, Window Shutters & Huge Closets in Every Bedroom. Immaculately cared for & it shows. Master bedroom has Dual (his/hers) closets. The backyard is a dream with a patio bar-top & pebble tech pool that has a Water Feature with a Slide & Waterfall.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Higley Groves

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Higley Groves

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10361981

* 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 Park Elementary School Primary Regular 907 48 9
Highland Park Elementary School Middle Regular 907 48 9
Highland High School High Regular 3,065 123 8

Highland Park Elementary School

  • Education Level: Primary
  • # of students: 907
  • # of teachers: 48
9
GreatSchools Rating

Highland Park Elementary School

  • Education Level: Middle
  • # of students: 907
  • # of teachers: 48
9
GreatSchools Rating

Highland High School

  • Education Level: High
  • # of students: 3,065
  • # of teachers: 123
8
GreatSchools Rating
 

$418,406$511,385$464,895

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

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$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$1,715
Property Tax -$276
Property Insurance -$76
HOA -$70
Property Management Fees -$99
CASH FLOW
-$136

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.

$464,895

PROJECTED PRICE

$2,100

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.19%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$128,947

INVESTMENT

$128,947

Down Payment
$116,224
Rehab Estimate
$5,750
Closing Costs
$6,973

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,715

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $116,224
Loan Amount $348,671
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$19,872

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
  • $2,092

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,9953$2,0004$2,2005$2,395
$2,395
RENT COMPS ANALYSIS
  • 3481 E Lexington Court Gilbert, 1
    • 4 beds 3 baths ∙ 2,490 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,490 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3620 E Page Avenue Gilbert, 2
    • 4 beds 2 baths ∙ 2,419 Sqft ∙ Built 1996 4 beds 2 baths ∙ 2,419 Sqft ∙ Built 1996
    LEASED 06/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.82
    •  
  • 3850 E Redfield Court Gilbert, 3
    • 4 beds 3 baths ∙ 2,493 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,493 Sqft ∙ Built 1998
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.80
    •  
  • 4131 E Cullumber Court Gilbert, 4
    • 5 beds 3 baths ∙ 2,734 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,734 Sqft ∙ Built 2005
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.80
    •  
  • 3412 E Robin Lane Gilbert, 5
    • 4 beds 3 baths ∙ 2,538 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,538 Sqft ∙ Built 2009
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.94
    •  
PROPERTY LISTING DETAILS
Krysten Giordano
Homie
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6121565
Last Updated: 08/24/2020
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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