Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

3950 E Vernon Street Gilbert, AZ 85298

3 Beds 2 Baths 2,129 sqft Built 2003

$475,000

List Price

$2,020

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $223.11
  • 3 Days on Market
  • MLS # : 6186971
  • Updated Date : 01/29/2021 at 00:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,129 sqft
  • Baths : 2 full
Listing Agent

Az Flat Fee

Listing Agent's Description

WOW! Great opportunity to live on this large corner lot in the prestigious community of Seville Golf & Country Club. Interior boasts a bright & inviting living & dining w/ neutral paint, travertine floors, plantation shutters throughout with French patio doors. Bright eat in kitchen with everything you need for making home cooking a bliss including ample cabinets, matching ss appliances and kitchen island. The master bedroom features a walk-in closet and stunning spa like bathroom. Out back enjoy the sparkling swimming pool or relax on the covered patio. Also including an extended covered patio pergola, firepit, RV gate, and so much more. Hurry! This opportunity won't last long. Call now!

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.
 

$427,500$522,500$475,000

PURCHASE PRICE

$1,818$2,222$2,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,020
EXPENSES Loan Payment -$1,650
Property Tax -$332
Property Insurance -$69
HOA -$12
Property Management Fees -$99
CASH FLOW
-$141

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.

$475,000

PROJECTED PRICE

$2,020

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,650

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$15,837

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
  • $2,060

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,8003$2,1754$2,1955$2,200
$2,200
RENT COMPS ANALYSIS
  • 3950 E Vernon Street Gilbert, AZ 1
    • 3 beds 2 baths ∙ 2,129 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,129 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 6335 S Shelby Way Gilbert, AZ 2
    • 4 beds 2 baths ∙ 1,932 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,932 Sqft ∙ Built 2004
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.93
    •  
  • 3685 E Flower Street Gilbert, AZ 3
    • 4 beds 3 baths ∙ 2,199 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,199 Sqft ∙ Built 2003
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $0.99
    •  
  • 6251 S Legend Court Gilbert, AZ 4
    • 3 beds 2 baths ∙ 2,248 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,248 Sqft ∙ Built 2002
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.98
    •  
  • 5948 S Inez Drive Gilbert, AZ 5
    • 4 beds 2 baths ∙ 2,275 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,275 Sqft ∙ Built 2006
    LEASED 05/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.97
    •  
PROPERTY LISTING DETAILS
Richard Harless
Az Flat Fee
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6186971
Last Updated: 01/29/2021
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.

BESbswy