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1831 E El Moro Avenue Mesa, AZ 85204

3 Beds 2 Baths 1,092 sqft Built 1974

$279,900

List Price

$1,130

$1K - $1.2K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $256.32
  • 2 Days on Market
  • MLS # : 6160487
  • Updated Date : 11/13/2020 at 19:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,092 sqft
  • Baths : 2 full
Listing Agent

Gentry Real Estate

Listing Agent's Description

Great property with a great location! Close to shopping, freeways and entertainment. This property boasts new kitchen countertops, flooring, window coverings, completely remodeled bathrooms and more. A must see!!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Reed Park

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

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

Neighborhood: Reed Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7791567

* 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
Mesa High School High Regular 3,406 155 4

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

Mesa High School

  • Education Level: High
  • # of students: 3,406
  • # of teachers: 155
4
GreatSchools Rating
 

$251,910$307,890$279,900

PURCHASE PRICE

$1,017$1,243$1,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,130
EXPENSES Loan Payment -$1,033
Property Tax -$145
Property Insurance -$49
Property Management Fees -$99
CASH FLOW
-$195

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.

$279,900

PROJECTED PRICE

$1,130

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 11.0%
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

PROJECTED ANNUAL CASH FLOW

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

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$79,924

INVESTMENT

$79,924

Down Payment
$69,975
Rehab Estimate
$5,750
Closing Costs
$4,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,975
Loan Amount $209,925
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$5,802

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,130

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,147

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,130
1$1,1302$1,1753$1,350
$1,350
RENT COMPS ANALYSIS
  • 1831 E El Moro Avenue Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,092 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,092 Sqft ∙ Built 1974
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,130
    • $1.03
    •  
  • 1327 S Allen -- Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,118 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,118 Sqft ∙ Built 1980
    property image
    LEASED 11/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,175
    • $1.05
    •  
  • 3331 E Calypso Avenue Mesa, AZ 3
    • 3 beds 2 baths ∙ 1,287 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,287 Sqft ∙ Built 1983
    property image
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.05
    •  
PROPERTY LISTING DETAILS
Ernesto Moreno Rigollot
Gentry Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6160487
Last Updated: 11/13/2020
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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