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1004 S Somerset -- Mesa, AZ 85206

3 Beds 2 Baths 1,544 sqft Built 1997

$309,000

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $200.13
  • 2 Days on Market
  • MLS # : 6187776
  • Updated Date : 01/30/2021 at 12:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,544 sqft
  • Baths : 2 full
Listing Agent

Sweet Homes Arizona Realty

Listing Agent's Description

PREMIUM OVERSIZED CORNER LOT! ** GORGEOUS NEW LUXURY FLOORING: BARNWOOD LVT IN LIVING & WET AREAS WITH CARPET IN 3 BEDROOMS ** NEW LIGHT FIXTURES & CEILING FANS ** NEW TOILETS ** NEW 2'' FAUX WOOD BLINDS IN LIVING AREAS ** OFFICE/DEN WITH NICHE FOR DESK WOULD ALSO MAKE GREAT WORK-OUT SPACE, PLAY ROOM OR ? ** MASTER SUITE ENJOYS FULL BATH WITH TUB/SHOWER COMBO, OVERSIZED L-SHAPED WALK-IN CLOSET (CHECK BEHIND THE DOOR!) & PRIVATE EXIT TO THE BACK PATIO ** EAT-IN KITCHEN WITH BREAKFAST BAR PLUS A DINING SPACE IN THE GREATROOM.** REFRIGERATOR CONVEYS ** TREMENDOUS L-SHAPED, POOL-SIZED BACKYARD IS A BLANK SLATE OFFERING ENDLESS POSSIBILITIES FOR THE OASIS OF YOUR DREAMS! ** INSIDE LAUNDRY

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PRICE & RENT TRENDS

Neighborhood: Arizona Valencia

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $109k271k

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

Neighborhood: Arizona Valencia

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100010501100115012001250130013501400145015001550Rent in $9571567

* 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
Taylor Junior High School Middle Regular 1,152 64 3
Mesa High School High Regular 3,406 155 4

Taylor Junior High School

  • Education Level: Middle
  • # of students: 1,152
  • # of teachers: 64
3
GreatSchools Rating

Mesa High School

  • Education Level: High
  • # of students: 3,406
  • # of teachers: 155
4
GreatSchools Rating
 

$278,100$339,900$309,000

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$1,073
Property Tax -$214
Property Insurance -$57
HOA -$43
Property Management Fees -$99
CASH FLOW
-$7

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$309,000

PROJECTED PRICE

$1,480

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 7.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
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

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$87,635

INVESTMENT

$87,635

Down Payment
$77,250
Rehab Estimate
$5,750
Closing Costs
$4,635

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,073

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,250
Loan Amount $231,750
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$17,528

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
  • $1,594

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,5503$1,6004$1,6505$1,785
$1,785
RENT COMPS ANALYSIS
  • 1004 S Somerset -- Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,544 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,544 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 5738 E Garnet Avenue Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,537 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,537 Sqft ∙ Built 1999
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.01
    •  
  • 5740 E Glade Avenue Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,537 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,537 Sqft ∙ Built 1998
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.04
    •  
  • 5749 E Glade Avenue Mesa, AZ 4
    • 4 beds 2 baths ∙ 1,541 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,541 Sqft ∙ Built 1998
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.07
    •  
  • 5314 E Flower Avenue Mesa, AZ 5
    • 4 beds 2 baths ∙ 1,762 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,762 Sqft ∙ Built 1998
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,785
    • $1.01
    •  
PROPERTY LISTING DETAILS
Lorna M Lemon
Sweet Homes Arizona Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6187776
Last Updated: 01/30/2021
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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