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2601 E Garnet Avenue Mesa, AZ 85204

3 Beds 2 Baths 1,841 sqft Built 1980

$364,500

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

February 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $197.99
  • 6 Days on Market
  • MLS # : 6188598
  • Updated Date : 02/07/2021 at 04:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,841 sqft
  • Baths : 2 full
Listing Agent

Kimberley Wimberley Real Estate

Listing Agent's Description

NO HOA. Corner Lot. 3 bed/2 bath. Formal Dining room space could be used for music room or study. Kitchen w/granite counters and SS appliances, Dining area w fireplace. Dining area has breakfast bar open to Family Room w lots of natural light. Laundry Room off Kitchen with access to Garage. Master has sitting area that can double as home office and door to back yard. Carpet throughout is less than 6 months old. Garage has epoxy coating and cabinets. Low maintenance landscaping-Deseret Front, artificial grass in back w garden area. Shed/workshop is insulated w drywall and electrical.

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
Taylor Junior High School Middle Regular 1,152 64 3
Mesa High School High Regular 3,406 155 4

Taylor Junior High School

  • Education Level: Middle
  • # of students: 1,152
  • # of teachers: 64
3
GreatSchools Rating

Mesa High School

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

$328,050$400,950$364,500

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$1,266
Property Tax -$189
Property Insurance -$63
Property Management Fees -$99
CASH FLOW
$73

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.

$364,500

PROJECTED PRICE

$1,690

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$102,343

INVESTMENT

$102,343

Down Payment
$91,125
Rehab Estimate
$5,750
Closing Costs
$5,468

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,266

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $91,125
Loan Amount $273,375
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$29,411

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,864

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,7033$1,7504$1,8005$1,850
$1,850
RENT COMPS ANALYSIS
  • 2601 E Garnet Avenue Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,841 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,841 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2954 E Garnet Circle Mesa, AZ 2
    • 4 beds 2 baths ∙ 1,681 Sqft ∙ Built 1981 4 beds 2 baths ∙ 1,681 Sqft ∙ Built 1981
    LEASED 12/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,703
    • $1.01
    •  
  • 3017 E Hampton Circle Mesa, AZ 3
    • 4 beds 2 baths ∙ 1,751 Sqft ∙ Built 1983 4 beds 2 baths ∙ 1,751 Sqft ∙ Built 1983
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.00
    •  
  • 3117 E Enid Avenue Mesa, AZ 4
    • 3 beds 2 baths ∙ 1,738 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,738 Sqft ∙ Built 1982
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.04
    •  
  • 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
Kimberley Wimberley
Kimberley Wimberley Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6188598
Last Updated: 02/07/2021
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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