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1648 S Yale Avenue Mesa, AZ 85204

3 Beds 2 Baths 1,431 sqft Built 1983

$348,900

List Price

$1,360

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $243.82
  • 3 Days on Market
  • MLS # : 6193690
  • Updated Date : 02/13/2021 at 16:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,431 sqft
  • Baths : 2 full
Listing Agent

Realty One Group

Listing Agent's Description

Charming move-in ready Fully Remodeled home on a corner lot. NEW AC, NEW garage door system, new fans, and screen door. Vaulted ceilings, soothing palette, ceiling fans, window blinds, & handsome wood ''look'' tile floors. Spacious eat-in kitchen features granite counters, breakfast bar, upgraded pendant lighting, SS appliances, & plenty of white cabinets. 2 New upscale baths w/granite counters, designer tile, & under-mount sinks. Plush carpet in all bedrooms, ample closets, & an interior laundry room w/storage cabinets. Enjoy the sparkling pool, covered patio, & decorative stone. Close to Shopping & more. This wonderful home will go fast!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: East Mesa

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $92k271k

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

Neighborhood: East Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10181805

* 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
Mesquite Jr High School Middle Regular 715 34 7
Gilbert High School High Regular 2,470 113 7
Mesquite Jr High School Middle Unknown NA

Mesquite Jr High School

  • Education Level: Middle
  • # of students: 715
  • # of teachers: 34
7
GreatSchools Rating

Gilbert High School

  • Education Level: High
  • # of students: 2,470
  • # of teachers: 113
7
GreatSchools Rating

Mesquite Jr High School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$314,010$383,790$348,900

PURCHASE PRICE

$1,224$1,496$1,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,360
EXPENSES Loan Payment -$1,212
Property Tax -$154
Property Insurance -$55
Property Management Fees -$99
CASH FLOW
-$160

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.

$348,900

PROJECTED PRICE

$1,360

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.5%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,209

INVESTMENT

$98,209

Down Payment
$87,225
Rehab Estimate
$5,750
Closing Costs
$5,234

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,212

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,225
Loan Amount $261,675
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$10,229

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
  • $1,426

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,6503$1,7034$1,750
$1,750
RENT COMPS ANALYSIS
  • 1648 S Yale Avenue Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,431 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,431 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1134 E Douglas Avenue Gilbert, AZ 2
    • 4 beds 2 baths ∙ 1,680 Sqft ∙ Built 1988 4 beds 2 baths ∙ 1,680 Sqft ∙ Built 1988
    property image
    LEASED 01/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.98
    •  
  • 2954 E Garnet Circle Mesa, AZ 3
    • 4 beds 2 baths ∙ 1,681 Sqft ∙ Built 1981 4 beds 2 baths ∙ 1,681 Sqft ∙ Built 1981
    property image
    LEASED 12/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,703
    • $1.01
    •  
  • 3017 E Hampton Circle Mesa, AZ 4
    • 4 beds 2 baths ∙ 1,751 Sqft ∙ Built 1983 4 beds 2 baths ∙ 1,751 Sqft ∙ Built 1983
    property image
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.00
    •  
PROPERTY LISTING DETAILS
Francisco Lerma
Realty One Group
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6193690
Last Updated: 02/13/2021
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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