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10942 E Medina Avenue Mesa, AZ 85209

2 Beds 3 Baths 1,993 sqft Built 1999

$499,000

List Price

$2,560

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $250.38
  • 4 Days on Market
  • MLS # : 6186836
  • Updated Date : 01/28/2021 at 20:51
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,993 sqft
  • Baths : 2 full , 1 half
Listing Agent

Superb Realty

Listing Agent's Description

Golf course lot. Located on 8th Tee of Four Peaks. Large covered patio with pergola, north facing with views of Superstition MTN and Four Peaks. Updates throughout with wood look tile flooring, granite countertops, stainless steel kitchen appliances. Eat in Kitchen, formal dining in Great Room. Updated walk-in shower and closet in master bath with dual sinks. Built in desk in laundry room. Freshly painted and cleaned, ready for the next owner.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Sunland Springs Village

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k340k

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

Neighborhood: Sunland Springs Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210501100115012001250130013501400145015001550160016501700Rent in $10181746

* 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
Desert Ridge Jr. High School Middle Regular 1,377 60 8
Desert Ridge High School High Regular 2,752 119 6
Desert Ridge Jr. High School Middle Unknown NA

Desert Ridge Jr. High School

  • Education Level: Middle
  • # of students: 1,377
  • # of teachers: 60
8
GreatSchools Rating

Desert Ridge High School

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

Desert Ridge Jr. High School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$449,100$548,900$499,000

PURCHASE PRICE

$2,304$2,816$2,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,560
EXPENSES Loan Payment -$1,733
Property Tax -$301
Property Insurance -$66
HOA -$5
Property Management Fees -$99
CASH FLOW
$356

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.

$499,000

PROJECTED PRICE

$2,560

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 3.6%
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$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k

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$137,985

INVESTMENT

$137,985

Down Payment
$124,750
Rehab Estimate
$5,750
Closing Costs
$7,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,733

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $124,750
Loan Amount $374,250
See What Happens When You Reinvest Cash Flow

9.5

YEARS SAVED

$66,716

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,560

    LIST RENT
  • $1.28

    LIST RENT PER SQFT
  • $3,388

    COMP ESTIMATED VALUE
  • $1.7

    COMP AVG. RENT PER SQFT
Comps Range
$2,560
1$2,5602$2,900
$2,900
RENT COMPS ANALYSIS
  • 10942 E Medina Avenue Mesa, AZ 1
    • 2 beds 3 baths ∙ 1,993 Sqft ∙ Built 1999 2 beds 3 baths ∙ 1,993 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $2,560
    • $1.28
    •  
  • 11360 E Keats Avenue #43 Mesa, AZ 2
    • 2 beds 2 baths ∙ 1,704 Sqft ∙ Built 2003 2 beds 2 baths ∙ 1,704 Sqft ∙ Built 2003
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.70
    •  
PROPERTY LISTING DETAILS
Jo Ellen Teeter
Superb Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6186836
Last Updated: 01/28/2021
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. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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