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2247 E Jasmine Street Mesa, AZ 85213

4 Beds 2 Baths 2,212 sqft Built 1979

$415,000

List Price

$1,890

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $187.61
  • 2 Days on Market
  • MLS # : 6206988
  • Updated Date : 03/20/2021 at 07:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,212 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

Rehab opportunity! Fantastic north Mesa location - no HOA! Single level block home with great curb appeal on oversized lot featuring 4 bedrooms and 2 baths. Formal living room and family room with 2-way wood-burning fireplace and minibar. Spacious eat-in kitchen with large walk-in pantry. Inside laundry includes washer and dryer. Adjacent bonus room can be used as a den or a storage room. Large master bedroom features an ensuite bath with separate exit to the backyard. Large lot with pebble finish diving pool and mature citrus. 2-car garage, RV gate and additional parking area for your toys or RV. Just minutes to the 202 freeway. Don't miss this opportunity to transform and upgrade this home with your own personal finishes.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: East Mesa

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k329k

* 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
Poston Junior High School Middle Regular 997 54 6
Mountain View High School High Regular 3,180 144 8

Poston Junior High School

  • Education Level: Middle
  • # of students: 997
  • # of teachers: 54
6
GreatSchools Rating

Mountain View High School

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

$373,500$456,500$415,000

PURCHASE PRICE

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$1,441
Property Tax -$215
Property Insurance -$70
Property Management Fees -$99
CASH FLOW
$64

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.

$415,000

PROJECTED PRICE

$1,890

PROJECTED RENT

0.46%

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

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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,725

INVESTMENT

$115,725

Down Payment
$103,750
Rehab Estimate
$5,750
Closing Costs
$6,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,441

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $103,750
Loan Amount $311,250
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$31,713

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,890

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,991

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,8003$1,8904$1,9455$2,295
$2,295
RENT COMPS ANALYSIS
  • 2247 E Jasmine Street Mesa, AZ 3
    • 4 beds 2 baths ∙ 2,212 Sqft ∙ Built 1979 4 beds 2 baths ∙ 2,212 Sqft ∙ Built 1979
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.85
    •  
  • 2440 E Huber Street Mesa, AZ 1
    • 3 beds 2 baths ∙ 2,052 Sqft ∙ Built 1972 3 beds 2 baths ∙ 2,052 Sqft ∙ Built 1972
    property image
    LEASED 03/14/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.83
    •  
  • 1433 N 24th Street Mesa, AZ 2
    • 3 beds 2 baths ∙ 2,035 Sqft ∙ Built 1973 3 beds 2 baths ∙ 2,035 Sqft ∙ Built 1973
    property image
    LEASED 11/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.88
    •  
  • 2458 E Glencove Street Mesa, AZ 4
    • 5 beds 3 baths ∙ 2,244 Sqft ∙ Built 1973 5 beds 3 baths ∙ 2,244 Sqft ∙ Built 1973
    property image
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $0.87
    •  
  • 1532 E Juniper Street Mesa, AZ 5
    • 4 beds 2 baths ∙ 2,260 Sqft ∙ Built 1988 4 beds 2 baths ∙ 2,260 Sqft ∙ Built 1988
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.02
    •  
PROPERTY LISTING DETAILS
Stephanie A. Brewer
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6206988
Last Updated: 03/20/2021
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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