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2841 E Virginia Street Mesa, AZ 85213

4 Beds 3 Baths 2,382 sqft Built 2017

$599,990

List Price

$2,230

$2K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $251.88
  • 4 Days on Market
  • MLS # : 6204556
  • Updated Date : 03/11/2021 at 08:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,382 sqft
  • Baths : 2 full , 1 half
Listing Agent

West Usa Realty

Listing Agent's Description

Location, location, location! Conveniently located near the 202 freeway, Lehi Crossing is a highly desired gated community situated along the Northern border of the prestigious orange grove corridor of East Mesa. With almost $70k in builder upgrades, no expense was spared on *your* next home. Built in just 2017, this like-new home features 4-bedrooms and 2.5-bathrooms, a huge 4-panel double sliding door, an oversized kitchen island with top of the line stainless steel appliances and sparkling white quartz countertops, high-end cabinetry and backsplash, 5.1 surround sound in the great room with zoned speakers in Primary bedroom and back patio, dimmable canned lights in every room, upgraded R-38 insulation...the list goes on!

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
Stapley Junior High School Middle Regular 931 45 8
Mountain View High School High Regular 3,180 144 8

Stapley Junior High School

  • Education Level: Middle
  • # of students: 931
  • # of teachers: 45
8
GreatSchools Rating

Mountain View High School

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

$539,991$659,989$599,990

PURCHASE PRICE

$2,007$2,453$2,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,230
EXPENSES Loan Payment -$2,084
Property Tax -$311
Property Insurance -$74
HOA -$81
Property Management Fees -$99
CASH FLOW
-$419

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.

$599,990

PROJECTED PRICE

$2,230

PROJECTED RENT

0.37%

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$15k

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$164,747

INVESTMENT

$164,747

Down Payment
$149,998
Rehab Estimate
$5,750
Closing Costs
$9,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,084

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $149,998
Loan Amount $449,993
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$8,507

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,230

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $2,251

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,1003$2,230
$2,230
RENT COMPS ANALYSIS
  • 2841 E Virginia Street Mesa, AZ 3
    • 4 beds 3 baths ∙ 2,382 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,382 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,230
    • $0.94
    •  
  • 3422 E Riverdale Street Mesa, AZ 1
    • 4 beds 3 baths ∙ 2,105 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,105 Sqft ∙ Built 2016
    property image
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.95
    •  
  • 3359 N Loma Vista -- Mesa, AZ 2
    • 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
    •  
PROPERTY LISTING DETAILS
Dustin Hayes
West Usa Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6204556
Last Updated: 03/11/2021
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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