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108 W 8th Place Mesa, AZ 85201

5 Beds 3 Baths 2,861 sqft Built 1945

$590,000

List Price

$2,480

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

January 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1945
  • Price/Sqft : $206.22
  • 5 Days on Market
  • MLS # : 6180127
  • Updated Date : 01/15/2021 at 19:16
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,861 sqft
  • Baths : 2 full , 1 half
Listing Agent

Home Centric Real Estate, Llc

Listing Agent's Description

Beautifully updated one-of-a-kind historic home with chef's kitchen (6 burner duel-fuel range w/ griddle and double ovens), 8'X5' marble-topped island, custom cabinetry w/ in-cabinet drawers, soaring 35' ceilings, new roof, huge 1st floor master suite with gorgeous updated bath (subway tiled shower and oversized soaking tub) plus great outdoor space. Fantastic split-level floor plan w/ tons of storage inside, in the attached shop and outside shed. Shaded gated parking with direct home entry as well as two separate driveways. Lovely huge gated front porch with custom fencing and iron front door. There is also a heated/cooled bonus room used as a gym above the shop! This home won't last long!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: West Mesa

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $81k271k

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

Neighborhood: West Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2850900950100010501100115012001250130013501400145015001550Rent in $8451567

* 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
Westwood High School High Regular 3,131 145 4

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

Westwood High School

  • Education Level: High
  • # of students: 3,131
  • # of teachers: 145
4
GreatSchools Rating
 

$531,000$649,000$590,000

PURCHASE PRICE

$2,232$2,728$2,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,480
EXPENSES Loan Payment -$2,049
Property Tax -$306
Property Insurance -$83
Property Management Fees -$99
CASH FLOW
-$57

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.

$590,000

PROJECTED PRICE

$2,480

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 8.2%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$162,100

INVESTMENT

$162,100

Down Payment
$147,500
Rehab Estimate
$5,750
Closing Costs
$8,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$2,049

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $147,500
Loan Amount $442,500
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$31,058

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,480

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,890

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$2,480
1$2,4802$2,895
$2,895
RENT COMPS ANALYSIS
  • 108 W 8th Place Mesa, AZ 1
    • 5 beds 3 baths ∙ 2,861 Sqft ∙ Built 1945 5 beds 3 baths ∙ 2,861 Sqft ∙ Built 1945
    • Rent
    • Rent Per SQFT
    •  
    • $2,480
    • $0.87
    •  
  • 131 W 7th Place Mesa, AZ 2
    • 4 beds 3 baths ∙ 2,877 Sqft ∙ Built 1947 4 beds 3 baths ∙ 2,877 Sqft ∙ Built 1947
    LEASED 01/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,895
    • $1.01
    •  
PROPERTY LISTING DETAILS
Jennifer M Gould
Home Centric Real Estate, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6180127
Last Updated: 01/15/2021
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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