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10226 E Jerome Avenue Mesa, AZ 85209

4 Beds 2 Baths 1,842 sqft Built 2001

$419,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $227.47
  • 4 Days on Market
  • MLS # : 6162609
  • Updated Date : 11/21/2020 at 16:58
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,842 sqft
  • Baths : 2 full
Listing Agent

Qc Realty

Listing Agent's Description

Fantastic opportunity to own this amazing 4bed/2bath home with original owners. It has great curb appeal with a 2 car garage and RV gate. Once you enter the home it leads you into the light and bright interior featuring soaring vaulted ceilings, two tone paint and tile flooring. It has an open concept eat in kitchen with a center island and breakfast bar. Perfect for gathering with friends and family. Lovely master bedroom with wood flooring and en suite bathroom with dual sinks, soaking tub and separate shower. Step out to your own private oasis backyard complete with sparkling pool and gorgeous landscaping with many conversation areas to entertain.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Crismon Creek

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $109k320k

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

Neighborhood: Crismon Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210501100115012001250130013501400145015001550160016501700Rent in $10181734

* 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
 

$377,100$460,900$419,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$1,546
Property Tax -$217
Property Insurance -$63
HOA -$135
Property Management Fees -$99
CASH FLOW
-$460

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.

$419,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 5.4%
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

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$116,785

INVESTMENT

$116,785

Down Payment
$104,750
Rehab Estimate
$5,750
Closing Costs
$6,285

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,546

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $104,750
Loan Amount $314,250
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,515

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,644

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6003$1,6504$1,6955$1,700
$1,700
RENT COMPS ANALYSIS
  • 10226 E Jerome Avenue Mesa, AZ 2
    • 4 beds 2 baths ∙ 1,842 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,842 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.87
    •  
  • 10060 E Isabella Avenue Mesa, AZ 1
    • 3 beds 3 baths ∙ 1,821 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,821 Sqft ∙ Built 2006
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.85
    •  
  • 10109 E Isabella Avenue Mesa, AZ 3
    • 4 beds 3 baths ∙ 1,821 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,821 Sqft ∙ Built 2005
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.91
    •  
  • 10038 E Impala Avenue Mesa, AZ 4
    • 3 beds 3 baths ∙ 1,933 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,933 Sqft ∙ Built 2007
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.88
    •  
  • 1655 S Wildrose -- Mesa, AZ 5
    • 3 beds 3 baths ∙ 1,821 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,821 Sqft ∙ Built 2005
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.93
    •  
PROPERTY LISTING DETAILS
Jaclyn Richards
Qc Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6162609
Last Updated: 11/21/2020
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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