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10511 E Lincoln Avenue Mesa, AZ 85212

4 Beds 3 Baths 2,444 sqft Built 2013

$480,000

List Price

$2,030

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $196.40
  • 4 Days on Market
  • MLS # : 6161196
  • Updated Date : 11/21/2020 at 12:55
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,444 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homesmart

Listing Agent's Description

This tastefully appointed home is move-in ready. Elegant turreted entrance w/brick-paved driveway & split-3-car garage offers impressive appeal. Gourmet kitchen w/dual ovens, gas cooktop, granite countertops, SS appliances, island & maple espresso cabinets pleases any chef. Love the expansive feel of 10' ceilings, wood-look tile plank flooring & two-tone paint in your Formal Living & Dining spaces. A separate excellent-for-entertaining Family Rm expands to covered patio with pergola extension, firepit & lushly landscaped backyard. Spacious master suite boasts contemporary dual sink vanity, shower, soaking tub & huge W-I closet. In demand master-planned community, Eastmark's amenities include a spa, splash pad, multiple pools, a clubhouse, playgrounds, parks & bike paths. HURRY! Won't Last!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: East Mesa

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k328k

* 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
Jack Barnes Elementary School Primary Regular 489 23 10
Queen Creek Middle School Middle Regular 787 33 6
Queen Creek High School High Regular 1,799 73 5

Jack Barnes Elementary School

  • Education Level: Primary
  • # of students: 489
  • # of teachers: 23
10
GreatSchools Rating

Queen Creek Middle School

  • Education Level: Middle
  • # of students: 787
  • # of teachers: 33
6
GreatSchools Rating

Queen Creek High School

  • Education Level: High
  • # of students: 1,799
  • # of teachers: 73
5
GreatSchools Rating
 

$432,000$528,000$480,000

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$1,771
Property Tax -$444
Property Insurance -$75
HOA -$100
Property Management Fees -$99
CASH FLOW
-$459

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.

$480,000

PROJECTED PRICE

$2,030

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.5%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

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$132,950

INVESTMENT

$132,950

Down Payment
$120,000
Rehab Estimate
$5,750
Closing Costs
$7,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,771

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $120,000
Loan Amount $360,000
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$2,898

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
  • $2,242

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$2,025
1$2,0252$2,0303$2,1954$2,1955$2,350
$2,350
RENT COMPS ANALYSIS
  • 10511 E Lincoln Avenue Mesa, AZ 2
    • 4 beds 3 baths ∙ 2,444 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,444 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $0.83
    •  
  • 4614 S Euler Lane Mesa, AZ 1
    • 4 beds 3 baths ∙ 2,284 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,284 Sqft ∙ Built 2016
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,025
    • $0.89
    •  
  • 10158 E Theorem Drive Mesa, AZ 3
    • 4 beds 3 baths ∙ 2,284 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,284 Sqft ∙ Built 2016
    LEASED 07/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.96
    •  
  • 9809 E Solstice Avenue Mesa, AZ 4
    • 4 beds 3 baths ∙ 2,503 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,503 Sqft ∙ Built 2018
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.88
    •  
  • 4714 S Curie Way Mesa, AZ 5
    • 4 beds 3 baths ∙ 2,506 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,506 Sqft ∙ Built 2018
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.94
    •  
PROPERTY LISTING DETAILS
Julie Morris
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6161196
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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