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3496 E Vaughn Avenue Gilbert, AZ 85234

4 Beds 2 Baths 2,196 sqft Built 1999

$499,000

List Price

$2,130

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $227.23
  • 3 Days on Market
  • MLS # : 6184307
  • Updated Date : 01/22/2021 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,196 sqft
  • Baths : 2 full
Listing Agent

Desert Properties Realty

Listing Agent's Description

HIghly coveted MORRISON RANCH single level home new to market**This BEAUTY has 4 GENEROUSLY sized bedrooms, located next to COMMON area so Privacy abounds and NO NEIGHBORS behind**Kitchen was UPDATED with REFACED cabinets, GRANITE, STAINLESS appliances**Real BARNWOOD DECOR in kitchen gives a nice farmhouse look**TRAVERTINE everywhere except bedrooms**Master BATH updated with TRAVERTINE shower, all UPDATED with cabinets, countertops and FIXTURES**Secondary bath updated with CABINETRY, counters and FIXTURES**SHUTTERS on ALL WINDOWS*Master Bedroom has doors to Quiet seating area**Upgraded lighting throughout**Surround sound in/out**TANKLESS hot water heater**Irrigation system redone in 2018, along with outdoor lighting, rock and sod**LARGE SIDE yard with RV GATE**EXTERIOR paint ed 2018,

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
 

$449,100$548,900$499,000

PURCHASE PRICE

$1,917$2,343$2,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,130
EXPENSES Loan Payment -$1,733
Property Tax -$296
Property Insurance -$70
HOA -$26
Property Management Fees -$99
CASH FLOW
-$94

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.

$499,000

PROJECTED PRICE

$2,130

PROJECTED RENT

0.43%

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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$137,985

INVESTMENT

$137,985

Down Payment
$124,750
Rehab Estimate
$5,750
Closing Costs
$7,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,733

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $124,750
Loan Amount $374,250
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$20,913

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
  • $2,136

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,9953$1,9954$2,1505$2,195
$2,195
RENT COMPS ANALYSIS
  • 3496 E Vaughn Avenue Gilbert, AZ 1
    • 4 beds 2 baths ∙ 2,196 Sqft ∙ Built 1999 4 beds 2 baths ∙ 2,196 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3636 E Bruce Avenue Gilbert, AZ 2
    • 4 beds 3 baths ∙ 2,127 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,127 Sqft ∙ Built 2001
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.94
    •  
  • 3616 E Linda Lane Gilbert, AZ 3
    • 4 beds 3 baths ∙ 2,127 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,127 Sqft ∙ Built 2000
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.94
    •  
  • 3748 E Linda Court Gilbert, AZ 4
    • 4 beds 3 baths ∙ 2,127 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,127 Sqft ∙ Built 2000
    LEASED 10/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.01
    •  
  • 3377 E Comstock Drive Gilbert, AZ 5
    • 3 beds 3 baths ∙ 2,197 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,197 Sqft ∙ Built 2008
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.00
    •  
PROPERTY LISTING DETAILS
Carol Lynn Letcher
Desert Properties Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6184307
Last Updated: 01/22/2021
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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