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2208 N Lazona Drive Mesa, AZ 85203

4 Beds 3 Baths 3,003 sqft Built 1988

$579,000

List Price

$2,210

$2K - $2.4K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $192.81
  • 2 Days on Market
  • MLS # : 6193841
  • Updated Date : 02/12/2021 at 23:16
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,003 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty East Valley

Listing Agent's Description

Come enjoy this beautiful updated single level custom home. No HOA on large corner lot RV gates. Open floor plan large family room vaulted ceilings. Private patio off of master bedroom. Real wood flooring. Huge bonus room with additional storage room. Oversized garage door. Epoxy garage floor, custom garage cabinets. Smart thermostat, door bell, garage opener, and home alarm system. Exterior security cameras. Working splash pad in back yard. Built in wood pizza oven under beautiful pergola. Huge kids play house. Newer A/C units and newer tankless water heater. Home has flood irrigation and sprinkler system front and back yard. Central vac system. Gas and wood burning fireplace with blower. Little exercise room off of the garage.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: East Mesa

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $109k271k

* 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
Stapley Junior High School Middle Regular 931 45 8
Mountain View High School High Regular 3,180 144 8

Stapley Junior High School

  • Education Level: Middle
  • # of students: 931
  • # of teachers: 45
8
GreatSchools Rating

Mountain View High School

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

$521,100$636,900$579,000

PURCHASE PRICE

$1,989$2,431$2,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,210
EXPENSES Loan Payment -$2,011
Property Tax -$300
Property Insurance -$86
Property Management Fees -$99
CASH FLOW
-$286

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.

$579,000

PROJECTED PRICE

$2,210

PROJECTED RENT

0.38%

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$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$159,185

INVESTMENT

$159,185

Down Payment
$144,750
Rehab Estimate
$5,750
Closing Costs
$8,685

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,011

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $144,750
Loan Amount $434,250
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$14,825

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,210

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,472

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,210
1$2,2102$2,4003$2,6004$2,695
$2,695
RENT COMPS ANALYSIS
  • 2208 N Lazona Drive Mesa, AZ 1
    • 4 beds 3 baths ∙ 3,003 Sqft ∙ Built 1988 4 beds 3 baths ∙ 3,003 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $2,210
    • $0.74
    •  
  • 1251 E Kramer Circle Mesa, AZ 2
    • 5 beds 3 baths ∙ 2,781 Sqft ∙ Built 2001 5 beds 3 baths ∙ 2,781 Sqft ∙ Built 2001
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.86
    •  
  • 1748 N Lindsay Road Mesa, AZ 3
    • 3 beds 3 baths ∙ 3,244 Sqft ∙ Built 1977 3 beds 3 baths ∙ 3,244 Sqft ∙ Built 1977
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.80
    •  
  • 1850 E Kael Street Mesa, AZ 4
    • 4 beds 3 baths ∙ 3,310 Sqft ∙ Built 1999 4 beds 3 baths ∙ 3,310 Sqft ∙ Built 1999
    LEASED 09/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.81
    •  
PROPERTY LISTING DETAILS
Shanna Day
Keller Williams Realty East Valley
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6193841
Last Updated: 02/12/2021
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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