Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

11247 E Contessa Street Mesa, AZ 85207

4 Beds 3 Baths 2,104 sqft Built 1998

$399,000

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $189.64
  • 4 Days on Market
  • MLS # : 6199221
  • Updated Date : 03/04/2021 at 17:19
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,104 sqft
  • Baths : 2 full , 1 half
Listing Agent

West Usa Realty

Listing Agent's Description

A hidden gem nestled in the community of Meridian Hills. Home is perfectly situated toward the front of the lot so it offers a SPACIOUS Backyard, MTN. Views (Superstitions & Goldfield), & Sides to a walking path to small park! Meridian Hills features walking paths, picnic ramadas, play equipment & several greenbelts to enjoy. Interior of home is a tri-level so offers privacy & space throughout. Main floor features; Living Room w/large picture window, formal dining area, & kitchen overlooking your backyard. Down a few steps is a family room, laundry room, bedroom & 3/4 Bathroom. Upstairs are Three Additional Bedrooms & Two Full Bathrooms, including the Master Suite. Master Suite has ensuite bathroom; vanity w/sink, shower/bathtub combo, linen storage, private toilet room & walk in closet

SEE MORE

PRICE & RENT TRENDS

Neighborhood: West Wind at Desert Breeze

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $90k271k

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

Neighborhood: West Wind at Desert Breeze

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100010501100115012001250130013501400145015001550Rent in $9981567

* 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
Smith Junior High School Middle Regular 988 51 6
Skyline High School High Regular 2,567 121 5

Smith Junior High School

  • Education Level: Middle
  • # of students: 988
  • # of teachers: 51
6
GreatSchools Rating

Skyline High School

  • Education Level: High
  • # of students: 2,567
  • # of teachers: 121
5
GreatSchools Rating
 

$359,100$438,900$399,000

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$1,386
Property Tax -$207
Property Insurance -$68
HOA -$40
Property Management Fees -$99
CASH FLOW
-$30

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.

$399,000

PROJECTED PRICE

$1,770

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 7.1%
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$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$111,485

INVESTMENT

$111,485

Down Payment
$99,750
Rehab Estimate
$5,750
Closing Costs
$5,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,386

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,750
Loan Amount $299,250
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$21,866

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,773

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,584
1$1,5842$1,5953$1,6954$1,7705$1,795
$1,795
RENT COMPS ANALYSIS
  • 11247 E Contessa Street Mesa, AZ 4
    • 4 beds 3 baths ∙ 2,104 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,104 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.84
    •  
  • 423 S Sabrina -- Mesa, AZ 1
    • 4 beds 3 baths ∙ 1,948 Sqft ∙ Built 2003 4 beds 3 baths ∙ 1,948 Sqft ∙ Built 2003
    LEASED 12/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,584
    • $0.81
    •  
  • 11401 E Ellis Street Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,783 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,783 Sqft ∙ Built 2003
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.89
    •  
  • 11018 E Cholla Road Mesa, AZ 3
    • 4 beds 2 baths ∙ 2,085 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,085 Sqft ∙ Built 2004
    LEASED 09/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.81
    •  
  • 11430 E Dover Street Mesa, AZ 5
    • 5 beds 2 baths ∙ 2,094 Sqft ∙ Built 1999 5 beds 2 baths ∙ 2,094 Sqft ∙ Built 1999
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.86
    •  
PROPERTY LISTING DETAILS
Heather Justice
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6199221
Last Updated: 03/04/2021
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.

BESbswy