Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2615 S El Marino -- Mesa, AZ 85202

4 Beds 2 Baths 2,466 sqft Built 1978

$450,000

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $182.48
  • 3 Days on Market
  • MLS # : 6158734
  • Updated Date : 11/14/2020 at 10:34
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,466 sqft
  • Baths : 2 full
Listing Agent

Results Guaranteed Realty, Llc

Listing Agent's Description

You will fall in love with this open large floorplan. Once you walk you will feel the warmth and coziness of the vaulted ceilings, wood beams, beautiful brick fireplace and neutral colors. The master bedroom is very spacious with an added sitting area & walk in closet. The master shower was redone with title surround. The other bedrooms are good size with plenty of closet space. The kitchen features newer appliances, tons of counter & cabinet space and a large eat in area with a great view of the backyard. The upgraded tile and carpet through the home are a just an added bonus. Speaking of bonuses there is a HEPA air filtration system, additional A/C unit for the kitchen, windows were replaced in 2006 & plantation shutters. The backyard is an entertainers dream from the sparkling pool,

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Dobson Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $109k278k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Dobson Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210501100115012001250130013501400145015001550160016501700Rent in $10181705

* 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
Dobson High School High Regular 2,639 122 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

Dobson High School

  • Education Level: High
  • # of students: 2,639
  • # of teachers: 122
4
GreatSchools Rating
 

$405,000$495,000$450,000

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$1,660
Property Tax -$234
Property Insurance -$75
HOA -$15
Property Management Fees -$99
CASH FLOW
$17

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.

$450,000

PROJECTED PRICE

$2,100

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 5.2%
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$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

6

YEARS SAVED

$35,890

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
  • $2,102

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,7953$2,0004$2,0005$2,595
$2,595
RENT COMPS ANALYSIS
  • 2615 S El Marino -- Mesa, AZ 1
    • 4 beds 2 baths ∙ 2,466 Sqft ∙ Built 1978 4 beds 2 baths ∙ 2,466 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2345 W Monte Avenue Mesa, AZ 2
    • 4 beds 3 baths ∙ 2,337 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,337 Sqft ∙ Built 1978
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.77
    •  
  • 2357 S Paseo Loma Circle Mesa, AZ 3
    • 4 beds 3 baths ∙ 2,380 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,380 Sqft ∙ Built 1983
    LEASED 11/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.84
    •  
  • 2538 W Keating Avenue Mesa, AZ 4
    • 4 beds 3 baths ∙ 2,411 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,411 Sqft ∙ Built 1979
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.83
    •  
  • 2508 W Monte Avenue Mesa, AZ 5
    • 3 beds 3 baths ∙ 2,662 Sqft ∙ Built 1979 3 beds 3 baths ∙ 2,662 Sqft ∙ Built 1979
    LEASED 03/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.97
    •  
PROPERTY LISTING DETAILS
Kimberly Slaughter
Results Guaranteed Realty, Llc
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6158734
Last Updated: 11/14/2020
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.

BESbswy