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11427 E Covina Street Mesa, AZ 85207

2 Beds 2 Baths 1,204 sqft Built 1998

$275,000

List Price

$1,280

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $228.41
  • 3 Days on Market
  • MLS # : 6190234
  • Updated Date : 02/06/2021 at 00:13
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,204 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Integrity First

Listing Agent's Description

***UNDER $300K IN NE MESA!!*** Well-maintained SINGLE STORY home located in the highly sought-after MERIDIAN HILLS community in NE Mesa. This 2Bed/2Bath PLUS DEN layout is perfect for growing families and snowbirds alike. Pride of ownership shows as this ORIGINAL OWNER has meticulously maintained the property. Step outside to the spacious back yard with SPARKLING PEBBLE TEC POOL and plenty of room for entertaining family and friends. Finishing touches include FULL 2-CAR GARAGE with STORAGE CABINETS with lots of space. Minutes from freeway access, shopping, schools and more. HURRY, THIS ONE WON'T LAST LONG!!

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
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,152$1,408$1,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,280
EXPENSES Loan Payment -$955
Property Tax -$143
Property Insurance -$51
HOA -$45
Property Management Fees -$99
CASH FLOW
-$13

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.

$275,000

PROJECTED PRICE

$1,280

PROJECTED RENT

0.47%

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$15,612

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
  • $1,210

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,1503$1,250
$1,250
RENT COMPS ANALYSIS
  • 11427 E Covina Street Mesa, AZ 1
    • 2 beds 2 baths ∙ 1,204 Sqft ∙ Built 1998 2 beds 2 baths ∙ 1,204 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1924 W 13th Avenue Apache Junction, AZ 2
    • 2 beds 2 baths ∙ 1,174 Sqft ∙ Built 1982 2 beds 2 baths ∙ 1,174 Sqft ∙ Built 1982
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.98
    •  
  • 1968 W 13th Avenue Apache Junction, AZ 3
    • 2 beds 2 baths ∙ 1,211 Sqft ∙ Built 1981 2 beds 2 baths ∙ 1,211 Sqft ∙ Built 1981
    LEASED 11/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.03
    •  
PROPERTY LISTING DETAILS
Gus Palmisano
Keller Williams Integrity First
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6190234
Last Updated: 02/06/2021
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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