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10048 E Nichols Avenue Mesa, AZ 85209

4 Beds 3 Baths 1,937 sqft Built 2018

$420,000

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $216.83
  • 2 Days on Market
  • MLS # : 6160663
  • Updated Date : 11/14/2020 at 13:55
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,937 sqft
  • Baths : 3 full
Listing Agent

Mt Real Estate, Llc

Listing Agent's Description

A gorgeous 4 bedroom, 3 full bath single level house in the Mulberry community of East Mesa. Built just a few years ago in 2018 the house features a split floor plan, high ceilings, low maintenance fake grass landscaping, a 3 car tandem garage, white shaker kitchen cabinets, RO water filter, subway tile backsplash, wood look tile, gas cooktop, water softener and stainless appliances. The fridge, washer and dryer are staying with the property! The master bathroom features dual sinks, separate shower and tub, a water closet and walk in closet with built in shelving. The open backyard has a gas line hookup to connect a bbq, spa or gas fire pit. Enjoy the peace of mind that comes with a recently built house!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: East Mesa

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $109k280k

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

Neighborhood: East Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10181805

* 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
Augusta Ranch Elementary School Primary Regular 1,038 51 8
Augusta Ranch Elementary School Middle Regular 1,038 51 8
Desert Ridge High School High Regular 2,752 119 6

Augusta Ranch Elementary School

  • Education Level: Primary
  • # of students: 1,038
  • # of teachers: 51
8
GreatSchools Rating

Augusta Ranch Elementary School

  • Education Level: Middle
  • # of students: 1,038
  • # of teachers: 51
8
GreatSchools Rating

Desert Ridge High School

  • Education Level: High
  • # of students: 2,752
  • # of teachers: 119
6
GreatSchools Rating
 

$378,000$462,000$420,000

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$1,550
Property Tax -$254
Property Insurance -$65
HOA -$131
Property Management Fees -$99
CASH FLOW
-$428

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.

$420,000

PROJECTED PRICE

$1,670

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.5%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$117,050

INVESTMENT

$117,050

Down Payment
$105,000
Rehab Estimate
$5,750
Closing Costs
$6,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,550

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $105,000
Loan Amount $315,000
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$2,265

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,792

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,670
1$1,6702$1,6993$1,7254$1,7995$1,849
$1,849
RENT COMPS ANALYSIS
  • 10048 E Nichols Avenue Mesa, AZ 1
    • 4 beds 3 baths ∙ 1,937 Sqft ∙ Built 2018 4 beds 3 baths ∙ 1,937 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.86
    •  
  • 2258 S Abbey -- Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,919 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,919 Sqft ∙ Built 2004
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $0.89
    •  
  • 10142 E Lobo Avenue Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,919 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,919 Sqft ∙ Built 2003
    property image
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.90
    •  
  • 2848 S 106th Place Mesa, AZ 4
    • 3 beds 3 baths ∙ 1,880 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,880 Sqft ∙ Built 2000
    property image
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,799
    • $0.96
    •  
  • 2840 S Coyote Canyon Circle Mesa, AZ 5
    • 4 beds 2 baths ∙ 1,952 Sqft ∙ Built 2000 4 beds 2 baths ∙ 1,952 Sqft ∙ Built 2000
    property image
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,849
    • $0.95
    •  
PROPERTY LISTING DETAILS
Nicholas A Lundgren
Mt Real Estate, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6160663
Last Updated: 11/14/2020
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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