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10155 E Jones Avenue Mesa, AZ 85201

3 Beds 2 Baths 1,223 sqft Built 1959

INVESTimate

$285,900

List Price

$1,200

$1,080 - $1,320

Rent Est.

$311,517  ( +8.96%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 1959
  • Price/Sqft : $233.77
  • 8 Days on Market
  • MLS # : 6119567
  • Updated Date : 08/20/2020 at 14:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,223 sqft
  • Baths : 2 full
Listing Agent

Nexgen Real Estate

Listing Agent's Description

Corner lot Classic Ranch Home with Mountain views. Home has 3 beds and 2 bath fully remodeled. Kitchen will be updated. Fresh Paint and bran new tile, fixtures, bathrooms and fans. Also, has 2 car garage with a separate workshop or can be finish as an extra room that has a bathroom. This property has two entrances with plenty of space to park cars, boats and RVs. No HOA,

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PRICE & RENT TRENDS

Neighborhood: University Manor

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: University Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8621567

* 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
Franklin At Alma Elementary School Primary Regular 280 13 10
Franklin At Alma Elementary School Middle Regular 280 13 10
Skyline High School High Regular 2,567 121 5

Franklin At Alma Elementary School

  • Education Level: Primary
  • # of students: 280
  • # of teachers: 13
10
GreatSchools Rating

Franklin At Alma Elementary School

  • Education Level: Middle
  • # of students: 280
  • # of teachers: 13
10
GreatSchools Rating

Skyline High School

  • Education Level: High
  • # of students: 2,567
  • # of teachers: 121
5
GreatSchools Rating
 

$257,310$314,490$285,900

PURCHASE PRICE

$1,080$1,320$1,200

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-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,200
EXPENSES Loan Payment -$1,055
Property Tax -$165
Property Insurance -$51
Property Management Fees -$99
CASH FLOW
-$170

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.

$285,900

PROJECTED PRICE

$1,200

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 8.96%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,514

INVESTMENT

$81,514

Down Payment
$71,475
Rehab Estimate
$5,750
Closing Costs
$4,289

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,055

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,475
Loan Amount $214,425
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$7,601

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
  • $1,170

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$9953$9994$1,450
$1,450
RENT COMPS ANALYSIS
  • 10155 E Jones Avenue Mesa, 1
    • 3 beds 2 baths ∙ 1,223 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,223 Sqft ∙ Built 1959
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 9419 E Sleepy Hollow Road #a Mesa, 2
    • 3 beds 1 baths ∙ 1,004 Sqft ∙ Built 1950 3 beds 1 baths ∙ 1,004 Sqft ∙ Built 1950
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $995
    • $0.99
    •  
  • 639 S 93rd Place Mesa, 3
    • 3 beds 1 baths ∙ 1,100 Sqft ∙ Built 1970 3 beds 1 baths ∙ 1,100 Sqft ∙ Built 1970
    property image
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $999
    • $0.91
    •  
  • 510 N 97th Place Mesa, 4
    • 3 beds 1 baths ∙ 1,500 Sqft ∙ Built 1953 3 beds 1 baths ∙ 1,500 Sqft ∙ Built 1953
    property image
    LEASED 05/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.97
    •  
PROPERTY LISTING DETAILS
Analia Cool
Nexgen Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6119567
Last Updated: 08/20/2020
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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