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1811 S 39th Street #8 Mesa, AZ 85206

4 Beds 2 Baths 1,515 sqft Built 1988

$290,000

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $191.42
  • 4 Days on Market
  • MLS # : 6162493
  • Updated Date : 11/21/2020 at 21:54
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,515 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Integrity First

Listing Agent's Description

This REMODELED home has an amazing location! Close to shopping, quick access to the freeway, AND is in a Gilbert school zone! You will love the UPGRADED kitchen! With 4 bedrooms and 2 bathrooms with over 1500 square feet, there is plenty of space to stretch out. The Vista Villages community has a POOL! All this plus a HUGE covered patio could be yours, schedule a tour today!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Vista Villages

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $92k271k

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

Neighborhood: Vista Villages

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100010501100115012001250130013501400145015001550Rent in $9651567

* 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
Pioneer Elementary School Primary Regular 539 36 8
Pioneer Elementary School Middle Regular 539 36 8
Highland High School High Regular 3,065 123 8

Pioneer Elementary School

  • Education Level: Primary
  • # of students: 539
  • # of teachers: 36
8
GreatSchools Rating

Pioneer Elementary School

  • Education Level: Middle
  • # of students: 539
  • # of teachers: 36
8
GreatSchools Rating

Highland High School

  • Education Level: High
  • # of students: 3,065
  • # of teachers: 123
8
GreatSchools Rating
 

$261,000$319,000$290,000

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$1,070
Property Tax -$128
Property Insurance -$57
HOA -$90
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.

$290,000

PROJECTED PRICE

$1,430

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 7.0%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$19,911

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,568

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,430
1$1,4302$1,4953$1,6004$1,6005$1,850
$1,850
RENT COMPS ANALYSIS
  • 1811 S 39th Street #8 Mesa, AZ 1
    • 4 beds 2 baths ∙ 1,515 Sqft ∙ Built 1988 4 beds 2 baths ∙ 1,515 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $0.94
    •  
  • 3510 E Hampton Avenue #59 Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,411 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,411 Sqft ∙ Built 1993
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.06
    •  
  • 4512 E Hopi Avenue Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,643 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,643 Sqft ∙ Built 1995
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.97
    •  
  • 3719 E Inverness Avenue #10 Mesa, AZ 4
    • 3 beds 3 baths ∙ 1,546 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,546 Sqft ∙ Built 1998
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.03
    •  
  • 2231 E Lakecrest Drive Gilbert, AZ 5
    • 3 beds 2 baths ∙ 1,708 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,708 Sqft ∙ Built 1990
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.08
    •  
PROPERTY LISTING DETAILS
Heather Openshaw
Keller Williams Integrity First
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6162493
Last Updated: 11/21/2020
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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