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2847 E Virginia Street Ne Mesa, AZ 85213

3 Beds 3 Baths 1,973 sqft Built 2017

$425,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 2017
  • Price/Sqft : $215.41
  • 4 Days on Market
  • MLS # : 6156473
  • Updated Date : 11/07/2020 at 18:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,973 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty East Valley

Listing Agent's Description

A rare find! Come see this gorgeous North Mesa home located near the 202 in gated Lehi Crossing. Enjoy remarkable sunset views of the beautiful East Valley as you stroll through the many walking paths in this private community. This home has been meticulously cared for and is the epitome of move in ready. Built in 2017, you'll find a thoughtfully designed split floor plan that includes two master bedrooms, both with walk in closets. Easy to clean wood-look tile throughout with carpet in all three bedrooms. The gorgeous kitchen boasts upgraded stainless steel Whirlpool appliances, upgraded cabinets with lighting underneath, and a large island and breakfast counter that looks out to the spacious great room.

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
 

$382,500$467,500$425,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$1,568
Property Tax -$221
Property Insurance -$66
HOA -$81
Property Management Fees -$99
CASH FLOW
-$354

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.

$425,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.40%

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,568

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$5,420

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,914

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,680
1$1,6802$2,0003$2,1004$2,275
$2,275
RENT COMPS ANALYSIS
  • 2847 E Virginia Street Ne Mesa, AZ 1
    • 3 beds 3 baths ∙ 1,973 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,973 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.85
    •  
  • 3422 E Riverdale Street Mesa, AZ 2
    • 4 beds 3 baths ∙ 2,105 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,105 Sqft ∙ Built 2016
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.95
    •  
  • 3359 N Loma Vista -- Mesa, AZ 3
    • 4 beds 3 baths ∙ 2,237 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,237 Sqft ∙ Built 2017
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.94
    •  
  • 3112 E Quince Street Mesa, AZ 4
    • 4 beds 3 baths ∙ 2,237 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,237 Sqft ∙ Built 2017
    LEASED 06/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,275
    • $1.02
    •  
PROPERTY LISTING DETAILS
Molly M Gorman
Keller Williams Realty East Valley
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6156473
Last Updated: 11/07/2020
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.

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