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2214 E Farmdale Avenue Mesa, AZ 85204

3 Beds 2 Baths 1,328 sqft Built 1983

$289,900

List Price

$1,250

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $218.30
  • 3 Days on Market
  • MLS # : 6162903
  • Updated Date : 11/20/2020 at 14:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,328 sqft
  • Baths : 2 full
Listing Agent

Exp Realty

Listing Agent's Description

Adorable 3 bed/2 bath home in a fantastic Mesa location! Soaring ceilings & picture windows makes it bright & sunny. Great room floorplan creates nice living space & opens to large dining area. The kitchen includes a Stainless-Steel microwave, Range & Fridge that conveys with the home. Great room has a cozy fireplace just in time for the holidays! Lg master suite has plush carpet, picture window and dual closets! 3/4 bath w/extended single sink vanity. Beautiful backyard has pavers, low maintenance landscaping & plenty of room for entertaining! New Hot Water Heater & Wi-Fi enabled garage door opener. No neighbor behind you & just steps away from the tot lot & community pool & spa. This house is sure to go quick, so come see it today!

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
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
 

$260,910$318,890$289,900

PURCHASE PRICE

$1,125$1,375$1,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,250
EXPENSES Loan Payment -$1,070
Property Tax -$150
Property Insurance -$53
HOA -$87
Property Management Fees -$99
CASH FLOW
-$209

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.

$289,900

PROJECTED PRICE

$1,250

PROJECTED RENT

0.43%

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$100k$200k$300k$400k$500k$600k$700k$800k$900k

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$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,574

INVESTMENT

$82,574

Down Payment
$72,475
Rehab Estimate
$5,750
Closing Costs
$4,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% 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 $72,475
Loan Amount $217,425
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$5,341

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,250

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,272

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,4503$1,4954$1,4955$1,495
$1,495
RENT COMPS ANALYSIS
  • 2214 E Farmdale Avenue Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,328 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,328 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.94
    •  
  • 1050 S Stapley Drive #1 Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,490 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,490 Sqft ∙ Built 1979
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.97
    •  
  • 1425 S Lindsay Road #6 Mesa, AZ 3
    • 3 beds 3 baths ∙ 1,499 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,499 Sqft ∙ Built 1996
    LEASED 05/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.00
    •  
  • 1559 E Flower Circle Mesa, AZ 4
    • 4 beds 2 baths ∙ 1,584 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,584 Sqft ∙ Built 1976
    LEASED 09/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.94
    •  
  • 2434 E Carol Avenue Mesa, AZ 5
    • 4 beds 2 baths ∙ 1,620 Sqft ∙ Built 1985 4 beds 2 baths ∙ 1,620 Sqft ∙ Built 1985
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.92
    •  
PROPERTY LISTING DETAILS
Lisa Funk
Exp Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6162903
Last Updated: 11/20/2020
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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