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10248 E Osage Avenue Mesa, AZ 85212

3 Beds 2 Baths 1,890 sqft Built 2000

$379,900

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2000
  • Price/Sqft : $201.01
  • 2 Days on Market
  • MLS # : 6156758
  • Updated Date : 11/07/2020 at 15:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,890 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

This home is a WOW HOME!!!, Owned solar for those hot summer nights! The large open kitchen with upgraded maple cabinets and s/s fixtures, gas stove; great for the Chef of the home, huge windows that look out onto the pebble-tech pool with a water feature, breakfast bar and kitchen look out into the family room with built-in shelves and vaulted ceilings, den could be used as a bedroom, built-in cabinets in the garage, dog run on the side of the home, upgraded flooring, Frenchdoors from the master bed to the backyard (this is nice for the midnight swims), your buyer will not be disappointed, very good school district, easy freeway access.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Santa Rita Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $109k358k

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

Neighborhood: Santa Rita Ranch

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
Canyon Rim Elementary School Primary Regular 929 50 8
Canyon Rim Elementary School Middle Regular 929 50 8
Desert Ridge High School High Regular 2,752 119 6

Canyon Rim Elementary School

  • Education Level: Primary
  • # of students: 929
  • # of teachers: 50
8
GreatSchools Rating

Canyon Rim Elementary School

  • Education Level: Middle
  • # of students: 929
  • # of teachers: 50
8
GreatSchools Rating

Desert Ridge High School

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

$341,910$417,890$379,900

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$1,402
Property Tax -$229
Property Insurance -$64
HOA -$59
Property Management Fees -$99
CASH FLOW
-$213

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.

$379,900

PROJECTED PRICE

$1,640

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.6%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$106,424

INVESTMENT

$106,424

Down Payment
$94,975
Rehab Estimate
$5,750
Closing Costs
$5,699

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,402

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $94,975
Loan Amount $284,925
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$9,289

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,800

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,640
1$1,6402$1,6993$1,7994$1,8005$1,849
$1,849
RENT COMPS ANALYSIS
  • 10248 E Osage Avenue Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,890 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,890 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.87
    •  
  • 10660 E Pampa Avenue Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,803 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,803 Sqft ∙ Built 2000
    property image
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $0.94
    •  
  • 2848 S 106th Place Mesa, AZ 3
    • 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
    •  
  • 2863 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 03/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $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
Kimberly Shallue
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6156758
Last Updated: 11/07/2020
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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