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11520 E Ramona Avenue Mesa, AZ 85212

5 Beds 3 Baths 2,402 sqft Built 2001

INVESTimate

$499,000

List Price

$2,130

$1,917 - $2,343

Rent Est.

$532,633  ( +6.74%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 2001
  • Price/Sqft : $207.74
  • 2 Days on Market
  • MLS # : 6106635
  • Updated Date : 08/25/2020 at 20:37
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,402 sqft
  • Baths : 2 full , 1 half
Listing Agent

Mojica & Associates Real Estate

Listing Agent's Description

NO SHOWINGS AUG 25TH - Beautiful 5 bedroom 2.5 bathroom home. The home offers Brand New Appliances that are sure to please. Plus nice granite counters, carpet and tile. There is a Fully permitted workshop 30x30 w/a bathroom that is heated & cooled. Plus, there are full RV Hook-ups too. The workshop can easily be renovated to a guest home/casita. No HOA

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Stratford Estates

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $109k358k

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

Neighborhood: Stratford Estates

NeighborhoodNIR 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
Meridian Elementary School Primary Regular 982 50 9
Meridian Elementary School Middle Regular 982 50 9
Desert Ridge High School High Regular 2,752 119 6

Meridian Elementary School

  • Education Level: Primary
  • # of students: 982
  • # of teachers: 50
9
GreatSchools Rating

Meridian Elementary School

  • Education Level: Middle
  • # of students: 982
  • # of teachers: 50
9
GreatSchools Rating

Desert Ridge High School

  • Education Level: High
  • # of students: 2,752
  • # of teachers: 119
6
GreatSchools Rating
 

$449,100$548,900$499,000

PURCHASE PRICE

$1,917$2,343$2,130

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

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$1.4M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,130
EXPENSES Loan Payment -$1,841
Property Tax -$301
Property Insurance -$92
Property Management Fees -$99
CASH FLOW
-$203

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.

$499,000

PROJECTED PRICE

$2,130

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.74%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$137,985

INVESTMENT

$137,985

Down Payment
$124,750
Rehab Estimate
$5,750
Closing Costs
$7,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,841

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $124,750
Loan Amount $374,250
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$17,692

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,130

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $2,576

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$2,130
1$2,1302$2,4003$2,4904$2,5505$2,650
$2,650
RENT COMPS ANALYSIS
  • 11520 E Ramona Avenue Mesa, 1
    • 5 beds 3 baths ∙ 3,302 Sqft ∙ Built 2001 5 beds 3 baths ∙ 3,302 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,130
    • $0.65
    •  
  • 11146 E Rafael Avenue Mesa, 2
    • 4 beds 3 baths ∙ 3,369 Sqft ∙ Built 2012 4 beds 3 baths ∙ 3,369 Sqft ∙ Built 2012
    property image
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.71
    •  
  • 11425 E Sebring Circle Mesa, 3
    • 5 beds 3 baths ∙ 3,115 Sqft ∙ Built 2006 5 beds 3 baths ∙ 3,115 Sqft ∙ Built 2006
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,490
    • $0.80
    •  
  • 4622 S Calderon Circle Mesa, 4
    • 5 beds 3 baths ∙ 3,115 Sqft ∙ Built 2006 5 beds 3 baths ∙ 3,115 Sqft ∙ Built 2006
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.82
    •  
  • 11340 E Solina Circle Mesa, 5
    • 5 beds 3 baths ∙ 3,346 Sqft ∙ Built 2007 5 beds 3 baths ∙ 3,346 Sqft ∙ Built 2007
    property image
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.79
    •  
PROPERTY LISTING DETAILS
Libby Miller
Mojica & Associates Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6106635
Last Updated: 08/25/2020
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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