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4157 E Lexington Avenue Gilbert, AZ 85234

4 Beds 3 Baths 2,733 sqft Built 2005

INVESTimate

$446,500

List Price

$1,850

$1,665 - $2,035

Rent Est.

$466,771  ( +4.54%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $163.37
  • 7 Days on Market
  • MLS # : 6118474
  • Updated Date : 08/24/2020 at 23:46
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,733 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homesmart

Listing Agent's Description

Welcome to the charming and well maintained subdivision of Highland Groves at Morrison Ranch. Tree lines streets, white fences and lush green landscaping add a unique feeling to this wonderful neighborhood. The home features 4 bedrooms & den, 2.5 bathrooms, living room, family room and large bonus/game room. New carpet, wood look tile and ceiling fans t/o. New faucets in kitchen and guest and master bathroom dual sinks. Pavers in front walkway, front and back patios and mature shade and fruit trees add a welcoming feel. The community has 2 stocked fishing lakes, playgrounds, ramadas, basketball courts and several events throughout the year.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Highland Groves at Morrison Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $122k405k

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

Neighborhood: Highland Groves at Morrison Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10362025

* 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
Greenfield Junior High School Middle Regular 917 44 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

Greenfield Junior High School

  • Education Level: Middle
  • # of students: 917
  • # of teachers: 44
9
GreatSchools Rating

Highland High School

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

$401,850$491,150$446,500

PURCHASE PRICE

$1,665$2,035$1,850

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

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,647
Property Tax -$279
Property Insurance -$80
HOA -$112
Property Management Fees -$99
CASH FLOW
-$367

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.

$446,500

PROJECTED PRICE

$1,850

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.54%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$124,073

INVESTMENT

$124,073

Down Payment
$111,625
Rehab Estimate
$5,750
Closing Costs
$6,698

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,647

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $111,625
Loan Amount $334,875
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$4,441

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
  • $2,077

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,9953$2,0004$2,1255$2,200
$2,200
RENT COMPS ANALYSIS
  • 4157 E Lexington Avenue Gilbert, 1
    • 4 beds 3 baths ∙ 2,733 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,733 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 761 N Pheasant Drive Gilbert, 2
    • 5 beds 4 baths ∙ 2,753 Sqft ∙ Built 1999 5 beds 4 baths ∙ 2,753 Sqft ∙ Built 1999
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.72
    •  
  • 4435 E Campbell Court Gilbert, 3
    • 4 beds 2 baths ∙ 2,675 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,675 Sqft ∙ Built 1997
    property image
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.75
    •  
  • 4108 E Breckenridge Way Gilbert, 4
    • 5 beds 4 baths ∙ 2,753 Sqft ∙ Built 1998 5 beds 4 baths ∙ 2,753 Sqft ∙ Built 1998
    property image
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,125
    • $0.77
    •  
  • 4131 E Cullumber Court Gilbert, 5
    • 5 beds 3 baths ∙ 2,734 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,734 Sqft ∙ Built 2005
    property image
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.80
    •  
PROPERTY LISTING DETAILS
Joey R. Almeida
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6118474
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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