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844 E Zesta Lane Gilbert, AZ 85297

3 Beds 2 Baths 1,885 sqft Built 2009

INVESTimate

$390,000

List Price

$1,840

$1,656 - $2,024

Rent Est.

$410,085  ( +5.15%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2009
  • Price/Sqft : $206.90
  • 6 Days on Market
  • MLS # : 6120940
  • Updated Date : 08/21/2020 at 16:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,885 sqft
  • Baths : 2 full
Listing Agent

Gentry Real Estate

Listing Agent's Description

Beautiful home in Layton Lakes. Original owner has taken great care of this house. Upgraded kitchen with granite, lots of tile, low maintenance yard. Large master, huge walk-in closet, separate tub and shower. 3 bedrooms plus a den

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Layton Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $122k436k

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

Neighborhood: Layton Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10362158

* 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
Weinberg Elementary School Primary Regular 846 42 8
Payne Junior High School Middle Regular 1,518 70 9
Perry High School High Regular 3,194 142 7

Weinberg Elementary School

  • Education Level: Primary
  • # of students: 846
  • # of teachers: 42
8
GreatSchools Rating

Payne Junior High School

  • Education Level: Middle
  • # of students: 1,518
  • # of teachers: 70
9
GreatSchools Rating

Perry High School

  • Education Level: High
  • # of students: 3,194
  • # of teachers: 142
7
GreatSchools Rating
 

$351,000$429,000$390,000

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,840
EXPENSES Loan Payment -$1,439
Property Tax -$273
Property Insurance -$64
HOA -$96
Property Management Fees -$99
CASH FLOW
-$131

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.

$390,000

PROJECTED PRICE

$1,840

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.15%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$109,100

INVESTMENT

$109,100

Down Payment
$97,500
Rehab Estimate
$5,750
Closing Costs
$5,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,439

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $97,500
Loan Amount $292,500
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$14,467

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,840

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,059

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,840
1$1,8402$1,8503$2,0004$2,1005$2,100
$2,100
RENT COMPS ANALYSIS
  • 844 E Zesta Lane Gilbert, 1
    • 3 beds 2 baths ∙ 1,885 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,885 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $0.98
    •  
  • 4749 S Watauga Drive Gilbert, 2
    • 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 2013 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 2013
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.03
    •  
  • 4483 S Leisure Way Gilbert, 3
    • 4 beds 2 baths ∙ 1,798 Sqft ∙ Built 2012 4 beds 2 baths ∙ 1,798 Sqft ∙ Built 2012
    LEASED 11/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.11
    •  
  • 947 E Dumbarton Avenue Gilbert, 4
    • 3 beds 2 baths ∙ 2,000 Sqft ∙ Built 2015 3 beds 2 baths ∙ 2,000 Sqft ∙ Built 2015
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.05
    •  
  • 1027 E Euclid Avenue Gilbert, 5
    • 3 beds 2 baths ∙ 1,774 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,774 Sqft ∙ Built 2009
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.18
    •  
PROPERTY LISTING DETAILS
Mohamed Fayed
Gentry Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6120940
Last Updated: 08/21/2020
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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