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10518 E Simone Avenue Mesa, AZ 85212

3 Beds 3 Baths 1,976 sqft Built 2017

$430,000

List Price

$1,820

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $217.61
  • 2 Days on Market
  • MLS # : 6163296
  • Updated Date : 11/20/2020 at 17:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,976 sqft
  • Baths : 2 full , 1 half
Listing Agent

Platinum Service Realty

Listing Agent's Description

Located in Eastmark, a beautiful, almost new single story 3 BR 2 bath with just under 2000 sqft of living space. Fully furnished, this house is move in ready. Enter to an open floorplan. Kitchen has staggered cabinets and pantry for plenty of storage room. Stainless appliances includes an electric cooktop, wall oven, built-in microwave, refrigerator, and dishwasher. Kitchen island provides extra seating. Other features include: Large family room, floor-to ceiling sliding doors, large master bedroom with walk-in closet, tiled showers in both bathrooms, wood-look tile and neutral carpet, water filtration/softener system, tankless water. EZ care synthetic turf front and backyards, back covered patio that overlooks a large water feature. Nearby 202 freeway access, Gateway airport, dining.

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
 

$387,000$473,000$430,000

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$1,587
Property Tax -$398
Property Insurance -$66
HOA -$100
Property Management Fees -$99
CASH FLOW
-$429

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.

$430,000

PROJECTED PRICE

$1,820

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$119,700

INVESTMENT

$119,700

Down Payment
$107,500
Rehab Estimate
$5,750
Closing Costs
$6,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,587

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $107,500
Loan Amount $322,500
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$2,138

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,820

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,848

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,775
1$1,7752$1,7993$1,8204$1,8955$2,050
$2,050
RENT COMPS ANALYSIS
  • 10518 E Simone Avenue Mesa, AZ 3
    • 3 beds 3 baths ∙ 1,976 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,976 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.92
    •  
  • 11060 E Stearn Avenue Mesa, AZ 1
    • 3 beds 3 baths ∙ 1,901 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,901 Sqft ∙ Built 2008
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.93
    •  
  • 11148 E Sonrisa Avenue Mesa, AZ 2
    • 3 beds 3 baths ∙ 1,901 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,901 Sqft ∙ Built 2006
    LEASED 10/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,799
    • $0.95
    •  
  • 10950 E Starkey Avenue Mesa, AZ 4
    • 4 beds 2 baths ∙ 2,112 Sqft ∙ Built 2012 4 beds 2 baths ∙ 2,112 Sqft ∙ Built 2012
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.90
    •  
  • 9966 E Wavelength Avenue Mesa, AZ 5
    • 4 beds 3 baths ∙ 2,137 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,137 Sqft ∙ Built 2019
    LEASED 04/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.96
    •  
PROPERTY LISTING DETAILS
Michael J Dingman
Platinum Service Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6163296
Last Updated: 11/20/2020
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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