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

2757 E Preston Street Mesa, AZ 85213

4 Beds 3 Baths 2,479 sqft Built 2014

$625,000

List Price

$2,220

$2K - $2.4K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $252.12
  • 3 Days on Market
  • MLS # : 6154651
  • Updated Date : 11/13/2020 at 12:13
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,479 sqft
  • Baths : 3 full
Listing Agent

Area Real Estate Advisors

Listing Agent's Description

This gorgeous 4 bed, 3 bath + den/office home has beautiful curb appeal with brick paver driveway, RV gates, 4 car garage; one is a high profile. Enter to a fabulous open floor plan with a beautiful formal dining room, high ceilings & neutral color palette. Beautiful wood plank tile floors throughout the main living areas. The gorgeous eat-in kitchen has custom white cabinets, brick backsplash, island with beautiful granite counters, breakfast bar seating, electric cooktop, double wall mount oven & microwave & a walk-in pantry, as well as a beverage center. Generous sized bedrooms. Master has plush carpet, 3/4 bath with double vanity & a walk-in closet. The resort style backyard has a brick paver covered & extended patio, water feature, Gazebo covered above ground spa & mature foliage.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Lehi Crossing

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k329k

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

Neighborhood: Lehi Crossing

ZipNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10181824

* 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
Mountain View High School High Regular 3,180 144 8

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

Mountain View High School

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

$562,500$687,500$625,000

PURCHASE PRICE

$1,998$2,442$2,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,220
EXPENSES Loan Payment -$2,306
Property Tax -$324
Property Insurance -$76
HOA -$81
Property Management Fees -$99
CASH FLOW
-$666

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.

$625,000

PROJECTED PRICE

$2,220

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 4.6%
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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

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$171,375

INVESTMENT

$171,375

Down Payment
$156,250
Rehab Estimate
$5,750
Closing Costs
$9,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,306

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $156,250
Loan Amount $468,750
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$2,999

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,220

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,429

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,2203$2,275
$2,275
RENT COMPS ANALYSIS
  • 2757 E Preston Street Mesa, AZ 2
    • 4 beds 3 baths ∙ 2,479 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,479 Sqft ∙ Built 2014
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,220
    • $0.90
    •  
  • 3359 N Loma Vista -- Mesa, AZ 1
    • 4 beds 3 baths ∙ 2,237 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,237 Sqft ∙ Built 2017
    property image
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.94
    •  
  • 3112 E Quince Street Mesa, AZ 3
    • 4 beds 3 baths ∙ 2,237 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,237 Sqft ∙ Built 2017
    property image
    LEASED 06/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,275
    • $1.02
    •  
PROPERTY LISTING DETAILS
Chad A Aman
Area Real Estate Advisors
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6154651
Last Updated: 11/13/2020
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