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

820 E Lexington Avenue Gilbert, AZ 85234

3 Beds 2 Baths 1,648 sqft Built 1985

$349,999

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $212.38
  • 3 Days on Market
  • MLS # : 6185380
  • Updated Date : 01/29/2021 at 23:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,648 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Sonoran Living

Listing Agent's Description

Appealing home nestled in attractive tree lined community of Lowe Estates. Beautiful brick home surrounded by tall mature trees. Convenient garage access through the alley way. Tall Cathedral Ceilings and lots of angles made this home very open and inviting. HOA maintained and manicured grass in front yard. Lots of room to play in the grass back yard and trees. During the hot summer days cool off in the community pool.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Gilbert

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k358k

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

Neighborhood: Gilbert

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10361987

* 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
Greenfield Junior High School Middle Regular 917 44 9
Gilbert High School High Regular 2,470 113 7
Greenfield Junior High School Middle Unknown NA

Greenfield Junior High School

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

Gilbert High School

  • Education Level: High
  • # of students: 2,470
  • # of teachers: 113
7
GreatSchools Rating

Greenfield Junior High School

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

$314,999$384,999$349,999

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$1,216
Property Tax -$206
Property Insurance -$59
HOA -$102
Property Management Fees -$99
CASH FLOW
$8

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.

$349,999

PROJECTED PRICE

$1,690

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.0%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,500
Loan Amount $262,499
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$19,422

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
  • $1,862

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,5953$1,6754$1,6955$2,100
$2,100
RENT COMPS ANALYSIS
  • 820 E Lexington Avenue Gilbert, AZ 1
    • 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1108 E Harbor View Drive Gilbert, AZ 2
    • 3 beds 2 baths ∙ 1,521 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,521 Sqft ∙ Built 1992
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.05
    •  
  • 1362 E Cullumber Street Gilbert, AZ 3
    • 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1995
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.16
    •  
  • 143 N Nielson Street Gilbert, AZ 4
    • 3 beds 2 baths ∙ 1,493 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,493 Sqft ∙ Built 1989
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.14
    •  
  • 1249 E Artesian Way Gilbert, AZ 5
    • 4 beds 2 baths ∙ 1,802 Sqft ∙ Built 1989 4 beds 2 baths ∙ 1,802 Sqft ∙ Built 1989
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.17
    •  
PROPERTY LISTING DETAILS
Penny Lambert
Keller Williams Realty Sonoran Living
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6185380
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