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2848 E Norcroft Circle Mesa, AZ 85213

4 Beds 4 Baths 2,426 sqft Built 1985

$649,900

List Price

$2,310

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

December 25, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $267.89
  • 3 Days on Market
  • MLS # : 6174543
  • Updated Date : 12/26/2020 at 20:26
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,426 sqft
  • Baths : 3 full , 1 half
Listing Agent

Regent Goldstar Real Estate

Listing Agent's Description

NO HOA! Only 15 mins from Sky Harbor this beautiful well maintained home is located on 15,000+ Sq Ft lot in quiet Cul-De-Sac Custom hickory cabinets, Granite countertops. Upgraded Italian tile and carpet throughout. Home is spacious with open living area & vaulted ceilings. New paint & upgraded lighting inside & out. Home office with separate entry, that could double as 5th bedroom. New windows in 2019. This unique lot provides a freshly resurfaced pebble-tec pool, sport court along with a covered patio, nice grass area, perfect for entertaining. Property boasts a 600 Sq Ft+ detached shop/garage that could easily convert to guest house/Mother in-law apartment. Garage has a 12 ft overhead door, complete with a full bath, Two RV gates with RV hookup.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Vista Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $109k441k

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

Neighborhood: Vista Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10342183

* 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
 

$584,910$714,890$649,900

PURCHASE PRICE

$2,079$2,541$2,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,310
EXPENSES Loan Payment -$2,398
Property Tax -$443
Property Insurance -$74
Property Management Fees -$99
CASH FLOW
-$704

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$649,900

PROJECTED PRICE

$2,310

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
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-$15k-$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$177,974

INVESTMENT

$177,974

Down Payment
$162,475
Rehab Estimate
$5,750
Closing Costs
$9,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,398

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $162,475
Loan Amount $487,425
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$2,139

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
  • $2,293

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,9453$2,295
$2,295
RENT COMPS ANALYSIS
  • 2848 E Norcroft Circle Mesa, AZ 1
    • 4 beds 4 baths ∙ 2,426 Sqft ∙ Built 1985 4 beds 4 baths ∙ 2,426 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2458 E Glencove Street Mesa, AZ 2
    • 5 beds 3 baths ∙ 2,244 Sqft ∙ Built 1973 5 beds 3 baths ∙ 2,244 Sqft ∙ Built 1973
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $0.87
    •  
  • 1532 E Juniper Street Mesa, AZ 3
    • 4 beds 2 baths ∙ 2,260 Sqft ∙ Built 1988 4 beds 2 baths ∙ 2,260 Sqft ∙ Built 1988
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.02
    •  
PROPERTY LISTING DETAILS
Terry A Boggs
Regent Goldstar Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6174543
Last Updated: 12/26/2020
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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