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10458 E Monterey Avenue Mesa, AZ 85209

5 Beds 3 Baths 2,435 sqft Built 2015

INVESTimate

$425,000

List Price

$2,030

$1,827 - $2,233

Rent Est.

$452,583  ( +6.49%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 2015
  • Price/Sqft : $174.54
  • 2 Days on Market
  • MLS # : 6122107
  • Updated Date : 08/25/2020 at 22:44
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,435 sqft
  • Baths : 3 full
Listing Agent

Berkshire Hathaway Homeservices Arizona Properties

Listing Agent's Description

This home is a dream! Looking for a new place to call home?Call today & schedule a showing!This fabulous single story 5 bed, 3 bath property has a great room floor plan, with neutral colors throughout.Open and bright Kitchen with Granite countertops, tile backsplash, matching stainless steel appliances, and island with breakfast bar. The spacious master bedroom comes, with a large walk-in closet and full bath with double sinks, separate tub and shower. Country Club style living! 2 Mulberry bikes included w/sale. Gilbert School District but lower Mesa Taxes & NO CFD Tax.Professionally and fully landscaped, pavers on both sides of home and back patio! Energy efficient and smart home features.

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
 

$382,500$467,500$425,000

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$1,568
Property Tax -$259
Property Insurance -$75
HOA -$131
Property Management Fees -$99
CASH FLOW
-$102

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.

$425,000

PROJECTED PRICE

$2,030

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.49%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,568

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$20,682

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,204

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9953$2,0304$2,0955$2,600
$2,600
RENT COMPS ANALYSIS
  • 10458 E Monterey Avenue Mesa, 3
    • 5 beds 3 baths ∙ 2,435 Sqft ∙ Built 2015 5 beds 3 baths ∙ 2,435 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $0.83
    •  
  • 2633 S Tobin -- Mesa, 1
    • 4 beds 3 baths ∙ 2,148 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,148 Sqft ∙ Built 2016
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.88
    •  
  • 10550 E Mendoza Avenue Mesa, 2
    • 4 beds 3 baths ∙ 2,464 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,464 Sqft ∙ Built 2016
    LEASED 12/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.81
    •  
  • 10509 E Olla Avenue Mesa, 4
    • 4 beds 3 baths ∙ 2,250 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,250 Sqft ∙ Built 2000
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.93
    •  
  • 10607 E Meseto Avenue Mesa, 5
    • 5 beds 3 baths ∙ 2,594 Sqft ∙ Built 2017 5 beds 3 baths ∙ 2,594 Sqft ∙ Built 2017
    LEASED 09/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.00
    •  
PROPERTY LISTING DETAILS
Debra Allen
Berkshire Hathaway Homeservices Arizona Properties
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6122107
Last Updated: 08/25/2020
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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