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4367 E Lantern Court Gilbert, AZ 85297

3 Beds 3 Baths 2,124 sqft Built 2001

$445,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $209.51
  • 3 Days on Market
  • MLS # : 6187215
  • Updated Date : 02/12/2021 at 08:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,124 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty East Valley

Listing Agent's Description

This home sits on a premier corner lot on a cul de sac with all new exterior paint! Featuring 3 bedrooms plus a den and 2.5 bathrooms, this single story home is well cared for and move in ready! With a great open floor plan, the kitchen shows off a large island, plenty of cabinets and countertop space. The master bedroom is spacious with a large master bathroom. The master bath has a separate tub and shower and large walk in closet. This home also features a split floor plan with the additional bedrooms on the opposite side of the house with a bathroom in between. This home has upgraded insulation throughout. The AC was replaced in July 2019. The backyard is large with plenty of grass and with lemon and tangelo fruit trees. The yard also has an all new drip system!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Power Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Power Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9591981

* 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
Sossaman Middle School Middle Unknown 901 44 NA
Higley High School High Regular 1,596 70 7

Sossaman Middle School

  • Education Level: Middle
  • # of students: 901
  • # of teachers: 44
NA
GreatSchools Rating

Higley High School

  • Education Level: High
  • # of students: 1,596
  • # of teachers: 70
7
GreatSchools Rating
 

$400,500$489,500$445,000

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,546
Property Tax -$306
Property Insurance -$69
HOA -$29
Property Management Fees -$99
CASH FLOW
-$197

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.

$445,000

PROJECTED PRICE

$1,850

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 4.9%
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

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$123,675

INVESTMENT

$123,675

Down Payment
$111,250
Rehab Estimate
$5,750
Closing Costs
$6,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,546

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $111,250
Loan Amount $333,750
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$10,806

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,975

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8253$1,8504$2,0005$2,150
$2,150
RENT COMPS ANALYSIS
  • 4367 E Lantern Court Gilbert, AZ 3
    • 3 beds 3 baths ∙ 2,124 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,124 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.87
    •  
  • 4544 S Maverick Court Gilbert, AZ 1
    • 3 beds 2 baths ∙ 1,945 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,945 Sqft ∙ Built 2002
    LEASED 07/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.93
    •  
  • 4027 E Marshall Avenue Gilbert, AZ 2
    • 3 beds 3 baths ∙ 2,073 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,073 Sqft ∙ Built 2003
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.88
    •  
  • 3962 E Ironhorse Road Gilbert, AZ 4
    • 4 beds 3 baths ∙ 2,126 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,126 Sqft ∙ Built 2002
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.94
    •  
  • 4292 E Marshall Avenue Gilbert, AZ 5
    • 4 beds 2 baths ∙ 2,209 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,209 Sqft ∙ Built 2002
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.97
    •  
PROPERTY LISTING DETAILS
Janine M. Igliane
Keller Williams Realty East Valley
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6187215
Last Updated: 02/12/2021
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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