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11056 E Topaz Avenue Mesa, AZ 85212

3 Beds 2 Baths 2,020 sqft Built 2015

$425,000

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $210.40
  • 4 Days on Market
  • MLS # : 6192291
  • Updated Date : 02/11/2021 at 08:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,020 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Integrity First

Listing Agent's Description

11056 E Topaz Ave is a stunning single story home situated right next to a greenbelt within the highly sought after Bella Via community. This 3 Bedroom (plus a den), 2 bathroom home is 2,020 sqft. of impressive living space. Upon entering the home you will be welcomed by the open concept, neutral paint, and plantation shutters throughout. The dream kitchen boasts gorgeous granite countertops that perfectly accompany the espresso cabinets, stainless steel appliances, an artistically designed backsplash, recessed lighting, a walk in pantry, and stunning pendant lights that hang over the massive island. The kitchen overlooks the dining space that runs right into the family room which is equipped with a built in entertainment center and the perfect view into the backyard. (CLICK TO READ MORE)

SEE MORE

PRICE & RENT TRENDS

Zip Code: 85212

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $109k358k

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

Zip Code: 85212

ZipNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10341981

* 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
 

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

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$1,476
Property Tax -$263
Property Insurance -$67
HOA -$75
Property Management Fees -$99
CASH FLOW
-$120

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.

$425,000

PROJECTED PRICE

$1,860

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 5.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
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$15k

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$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.

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$14,289

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,889

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,625
1$1,6252$1,7753$1,7994$1,8605$1,899
$1,899
RENT COMPS ANALYSIS
  • 11056 E Topaz Avenue Mesa, AZ 4
    • 3 beds 2 baths ∙ 2,020 Sqft ∙ Built 2015 3 beds 2 baths ∙ 2,020 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.92
    •  
  • 11146 E Sombra Avenue Mesa, AZ 1
    • 4 beds 2 baths ∙ 1,769 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,769 Sqft ∙ Built 2007
    LEASED 08/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.92
    •  
  • 11060 E Stearn Avenue Mesa, AZ 2
    • 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 3
    • 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
    •  
  • 5028 S Brice -- Mesa, AZ 5
    • 4 beds 2 baths ∙ 2,013 Sqft ∙ Built 2015 4 beds 2 baths ∙ 2,013 Sqft ∙ Built 2015
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,899
    • $0.94
    •  
PROPERTY LISTING DETAILS
Michelle Rae Colbert
Keller Williams Integrity First
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6192291
Last Updated: 02/11/2021
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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