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10222 E Lomita Avenue Mesa, AZ 85209

4 Beds 3 Baths 3,711 sqft Built 2004

$495,000

List Price

$2,230

$2K - $2.5K

Rent Est.

PROPERTY INFO

November 15, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $133.39
  • 1 Days on Market
  • MLS # : 6160801
  • Updated Date : 11/14/2020 at 18:22
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,711 sqft
  • Baths : 3 full
Listing Agent

Homesmart Lifestyles

Listing Agent's Description

Prepare to be amazed! Come and see this wonderful 4 bed, 3 bath property now for sale in Mesa! A beautiful facade, grassy front landscaping, a 3 car garage, RV gate, this home has it all and more! Inside you will find formal dining and living areas, a den perfect for an office, a spacious game room, and neutral paint throughout. The luxurious kitchen is a chef's dream come true, with its ample cabinetry, pantry, granite countertops, high-end appliances including a double wall oven, and island with breakfast bar. The grandiose master bedroom boasts a spacious walk-in closet and a full bath with double sinks, as well as separate tub and shower. Finally, the stunning backyard includes a covered patio, a small gazebo with built-in BBQ, and a refreshing pool! Hurry and schedule a showing today!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Villages of Eastridge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $109k358k

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

Neighborhood: Villages of Eastridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10341981

* 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
 

$445,500$544,500$495,000

PURCHASE PRICE

$2,007$2,453$2,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,230
EXPENSES Loan Payment -$1,826
Property Tax -$299
Property Insurance -$99
HOA -$25
Property Management Fees -$99
CASH FLOW
-$118

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.

$495,000

PROJECTED PRICE

$2,230

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.0%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$136,925

INVESTMENT

$136,925

Down Payment
$123,750
Rehab Estimate
$5,750
Closing Costs
$7,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,826

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $123,750
Loan Amount $371,250
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$23,502

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
  • $2,653

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,3753$2,5004$2,6005$2,700
$2,700
RENT COMPS ANALYSIS
  • 10222 E Lomita Avenue Mesa, AZ 1
    • 4 beds 3 baths ∙ 3,711 Sqft ∙ Built 2004 4 beds 3 baths ∙ 3,711 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 9641 E Laguna Azul Avenue Mesa, AZ 2
    • 5 beds 3 baths ∙ 3,409 Sqft ∙ Built 2000 5 beds 3 baths ∙ 3,409 Sqft ∙ Built 2000
    LEASED 09/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,375
    • $0.70
    •  
  • 10743 E Medina Avenue Mesa, AZ 3
    • 4 beds 3 baths ∙ 3,435 Sqft ∙ Built 2004 4 beds 3 baths ∙ 3,435 Sqft ∙ Built 2004
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.73
    •  
  • 9442 E Lompoc Avenue Mesa, AZ 4
    • 4 beds 3 baths ∙ 3,585 Sqft ∙ Built 2000 4 beds 3 baths ∙ 3,585 Sqft ∙ Built 2000
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.73
    •  
  • 9465 E Lompoc Avenue Mesa, AZ 5
    • 5 beds 3 baths ∙ 3,872 Sqft ∙ Built 2000 5 beds 3 baths ∙ 3,872 Sqft ∙ Built 2000
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.70
    •  
PROPERTY LISTING DETAILS
Michael J. Collum
Homesmart Lifestyles
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6160801
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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