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1846 S Glenview Avenue Mesa, AZ 85204

4 Beds 2 Baths 1,969 sqft Built 1983

$359,900

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $182.78
  • 3 Days on Market
  • MLS # : 6165756
  • Updated Date : 12/04/2020 at 11:43
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,969 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

Location, Location, Location!!! Mesa taxes, Gilbert Schools!!! No HOA, what more could you ask for?! This Beautiful 4 bedroom 2 bath home features a brick accented fireplace in the cozy living room, formal dining area, hardwood flooring with lush carpet in the bedrooms. An awesome backyard is comprised of a gated waterfall pool, covered patio, a new storage shed, and complete with two RV Gates. Close to the US 60, and only a 5 minute drive to all the entertainment and wonderful dining experiences Downtown Gilbert has to offer.

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
Harris Elementary School Primary Regular 476 34 4
Mesquite Jr High School Middle Regular 715 34 7
Gilbert High School High Regular 2,470 113 7

Harris Elementary School

  • Education Level: Primary
  • # of students: 476
  • # of teachers: 34
4
GreatSchools Rating

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
 

$323,910$395,890$359,900

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,328
Property Tax -$158
Property Insurance -$66
Property Management Fees -$99
CASH FLOW
$69

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.

$359,900

PROJECTED PRICE

$1,720

PROJECTED RENT

0.48%

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$1.2M

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,124

INVESTMENT

$101,124

Down Payment
$89,975
Rehab Estimate
$5,750
Closing Costs
$5,399

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,328

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $89,975
Loan Amount $269,925
See What Happens When You Reinvest Cash Flow

7

YEARS SAVED

$35,238

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,851

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,7003$1,7204$1,8255$1,850
$1,850
RENT COMPS ANALYSIS
  • 1846 S Glenview Avenue Mesa, AZ 3
    • 4 beds 2 baths ∙ 1,969 Sqft ∙ Built 1983 4 beds 2 baths ∙ 1,969 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.87
    •  
  • 242 E Merrill Avenue Gilbert, AZ 1
    • 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1983
    LEASED 12/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.88
    •  
  • 1040 N Palm Street Gilbert, AZ 2
    • 4 beds 2 baths ∙ 1,864 Sqft ∙ Built 1988 4 beds 2 baths ∙ 1,864 Sqft ∙ Built 1988
    LEASED 03/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.91
    •  
  • 814 E Stanford Avenue Gilbert, AZ 4
    • 3 beds 2 baths ∙ 1,879 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,879 Sqft ∙ Built 1992
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.97
    •  
  • 1752 S Chestnut -- Mesa, AZ 5
    • 3 beds 2 baths ∙ 1,844 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,844 Sqft ∙ Built 1978
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.00
    •  
PROPERTY LISTING DETAILS
Eleazar Medrano
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6165756
Last Updated: 12/04/2020
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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