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11062 E Sombra Avenue Mesa, AZ 85212

4 Beds 2 Baths 1,638 sqft Built 2007

INVESTimate

$340,000

List Price

$1,450

$1,305 - $1,595

Rent Est.

$362,066  ( +6.49%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2007
  • Price/Sqft : $207.57
  • 5 Days on Market
  • MLS # : 6121242
  • Updated Date : 08/22/2020 at 23:29
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,638 sqft
  • Baths : 2 full
Listing Agent

Re/max Classic

Listing Agent's Description

Located in the Beautiful and Highly Desired Community of Bella Via, this 4 Bedroom, 2 Bathroom home has been immaculately maintained. Enter in to a spacious living room with 9' Flat Ceilngs. The Eat-in Kitchen has a lovely Breakfast nook. Split Floor Plan offers a large master bedroom with a HUGE Walk-in Closet and Ensuite with deep soaking tub, and walk-in Shower. The Backyard is a wonderful Retreat with an extended patio, Gas Stub to BBQ,and grassy area, perfect for relaxing and entertaining! Very energy efficient, ceiling fans, water softener, Close to shopping, Parks and Freeway!New A/C 2019. Don't miss your chance to own in Bella Via!

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
 

$306,000$374,000$340,000

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$1,254
Property Tax -$248
Property Insurance -$59
HOA -$75
Property Management Fees -$99
CASH FLOW
-$286

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.

$340,000

PROJECTED PRICE

$1,450

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.49%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$3,785

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,495

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,5953$1,6254$1,6995$1,775
$1,775
RENT COMPS ANALYSIS
  • 11062 E Sombra Avenue Mesa, 1
    • 4 beds 2 baths ∙ 1,638 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,638 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 11343 E Quintana Avenue Mesa, 2
    • 4 beds 2 baths ∙ 1,756 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,756 Sqft ∙ Built 2002
    property image
    LEASED 02/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.91
    •  
  • 11146 E Sombra Avenue Mesa, 3
    • 4 beds 2 baths ∙ 1,769 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,769 Sqft ∙ Built 2007
    property image
    LEASED 08/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.92
    •  
  • 11148 E Sonrisa Avenue Mesa, 4
    • 3 beds 3 baths ∙ 1,901 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,901 Sqft ∙ Built 2006
    property image
    LEASED 08/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $0.89
    •  
  • 11060 E Stearn Avenue Mesa, 5
    • 3 beds 3 baths ∙ 1,901 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,901 Sqft ∙ Built 2008
    property image
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.93
    •  
PROPERTY LISTING DETAILS
Jill Vicchy Heimpel
Re/max Classic
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6121242
Last Updated: 08/22/2020
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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