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

1424 E Pepper Place Mesa, AZ 85203

4 Beds 2 Baths 2,005 sqft Built 1960

$349,900

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $174.51
  • 2 Days on Market
  • MLS # : 6173140
  • Updated Date : 12/19/2020 at 11:58
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,005 sqft
  • Baths : 1 full , 1 half
Listing Agent

Homesmart

Listing Agent's Description

A must see 4-bdrm, 1.75 bath, single story home with NO HOA, perfectly located in the heart of Mesa! Too many upgrades to list including a wood burning fireplace, 10ft deep renovated pool, & a spacious private turf/grass lot for activities your family enjoys! This newly updated home is move-in ready w/ stainless steel appliances in the expanded kitchen, updated roof, and tile/wood flooring throughout. The covered patio includes a gorgeous Arizona room overlooking the Pebble Sheen pool. Windows & HVAC have been updated during the recent renovation. Centrally located w/ easy access to freeways, area attractions, & walking distance to light rail. Plenty of parking for your RV & vehicles. Options are limited only by your imagination. Come see it today because this gem will not last long!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Sherwood

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: Sherwood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8621567

* 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
Franklin At Alma Elementary School Primary Regular 280 13 10
Franklin At Alma Elementary School Middle Regular 280 13 10
Mountain View High School High Regular 3,180 144 8

Franklin At Alma Elementary School

  • Education Level: Primary
  • # of students: 280
  • # of teachers: 13
10
GreatSchools Rating

Franklin At Alma Elementary School

  • Education Level: Middle
  • # of students: 280
  • # of teachers: 13
10
GreatSchools Rating

Mountain View High School

  • Education Level: High
  • # of students: 3,180
  • # of teachers: 144
8
GreatSchools Rating
 

$314,910$384,890$349,900

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,291
Property Tax -$182
Property Insurance -$66
Property Management Fees -$99
CASH FLOW
$162

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.

$349,900

PROJECTED PRICE

$1,800

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 9.7%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
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$1.4M

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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

8.17

YEARS SAVED

$43,475

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
  • $1,774

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,6503$1,6954$1,7955$1,950
$1,950
RENT COMPS ANALYSIS
  • 1424 E Pepper Place Mesa, AZ 1
    • 4 beds 2 baths ∙ 2,005 Sqft ∙ Built 1960 4 beds 2 baths ∙ 2,005 Sqft ∙ Built 1960
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1921 E Des Moines Street Mesa, AZ 2
    • 4 beds 2 baths ∙ 1,872 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,872 Sqft ∙ Built 1976
    property image
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.88
    •  
  • 1903 E Jarvis Avenue Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,997 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,997 Sqft ∙ Built 1968
    property image
    LEASED 11/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.85
    •  
  • 61 S Temple Street Mesa, AZ 4
    • 3 beds 2 baths ∙ 1,911 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,911 Sqft ∙ Built 1948
    property image
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.94
    •  
  • 1526 E Fountain Street Mesa, AZ 5
    • 3 beds 2 baths ∙ 2,248 Sqft ∙ Built 1979 3 beds 2 baths ∙ 2,248 Sqft ∙ Built 1979
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.87
    •  
PROPERTY LISTING DETAILS
Hope L Aguilar
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6173140
Last Updated: 12/19/2020
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.

BESbswy