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11338 E Des Moines Circle Mesa, AZ 85207

3 Beds 2 Baths 1,855 sqft Built 1999

$365,000

List Price

$1,870

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $196.77
  • 4 Days on Market
  • MLS # : 6186591
  • Updated Date : 01/28/2021 at 16:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,855 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

1st showings Sat. 1/30. Ask about the MULTI-GEN opportunity as home next door is also for sale--11332 E Des Moines Cir. Lovely home with 3 bedrooms, 2 updated bathrooms, front liv. room & dining room (or home office), and open kitchen to Great Room with gas fireplace. 1855 sq. ft. of beautiful, clean and easy living. Many updates--see DOCS tab for list, including plantation shutters, 6 new windows+ patio door, large master bath with walk-in shower & closet, outside recently painted. Enjoy vaulted ceilings, split bedrooms and 2 car garage. Kitchen features large island-like breakfast bar & ample counter space to spread out. Entertain or relax in in your backyard oasis with covered patio, swimming pool with water feature and extensive green turf so no mowing. Near park and Sousa Elementary

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Meridian Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $106k271k

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

Neighborhood: Meridian Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700Rent in $10181789

* 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
 

$328,500$401,500$365,000

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$1,268
Property Tax -$189
Property Insurance -$63
HOA -$45
Property Management Fees -$99
CASH FLOW
$205

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.

$365,000

PROJECTED PRICE

$1,870

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.7%
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$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$102,475

INVESTMENT

$102,475

Down Payment
$91,250
Rehab Estimate
$5,750
Closing Costs
$5,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,268

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $91,250
Loan Amount $273,750
See What Happens When You Reinvest Cash Flow

8.58

YEARS SAVED

$42,186

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
  • $1,707

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,3753$1,4804$1,5955$1,800
$1,800
RENT COMPS ANALYSIS
  • 11338 E Des Moines Circle Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,855 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,855 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 11239 E Camino Street Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,557 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,557 Sqft ∙ Built 1998
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.88
    •  
  • 11547 E Decatur Street Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,579 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,579 Sqft ∙ Built 1999
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.94
    •  
  • 11401 E Ellis Street Mesa, AZ 4
    • 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
    •  
  • 11234 E Dartmouth Circle Mesa, AZ 5
    • 3 beds 2 baths ∙ 1,856 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,856 Sqft ∙ Built 2001
    LEASED 01/20/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.97
    •  
PROPERTY LISTING DETAILS
Jon S. Englund
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6186591
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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