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2944 E Diamond Avenue Mesa, AZ 85204

3 Beds 2 Baths 1,589 sqft Built 1982

$299,900

List Price

$1,460

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $188.74
  • 4 Days on Market
  • MLS # : 6156346
  • Updated Date : 12/04/2020 at 20:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,589 sqft
  • Baths : 2 full
Listing Agent

Exp Realty

Listing Agent's Description

Perfect 3 bedroom home on large lot with Great curb appeal that is accented by spectacular mesquite tree!! This wonderful home comes with 2 bathrooms (A 3/4 bath in Master bedroom and one 4 piece Guest Bathroom. Both bathrooms have ADA Bars. Great living room with Southern Exposure; Laminate floors in the Hallway and Dining Room, dining room has a Red Brick wood burning Fireplace. Spacious Kitchen that was remodeled in 2014 with Natural Hickory Cabinets. All stainless appliances from 2013 (dishwasher-new in 2019). Large Pantry with wooden doors. Laundry Room is located off the Kitchen next to the Garage Access. Laundry Room comes with White GE Front loading Washer and Dryer on pedestals Drawers. Shelves located above Washer and Dryer for plenty of storage.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Meadowgreen

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $105k271k

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

Neighborhood: Meadowgreen

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2950100010501100115012001250130013501400145015001550Rent in $9091567

* 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
Mesa High School High Regular 3,406 155 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

Mesa High School

  • Education Level: High
  • # of students: 3,406
  • # of teachers: 155
4
GreatSchools Rating
 

$269,910$329,890$299,900

PURCHASE PRICE

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$1,107
Property Tax -$156
Property Insurance -$58
Property Management Fees -$99
CASH FLOW
$41

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.

$299,900

PROJECTED PRICE

$1,460

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 7.6%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$27,083

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,561

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4603$1,4954$1,4995$1,800
$1,800
RENT COMPS ANALYSIS
  • 2944 E Diamond Avenue Mesa, AZ 2
    • 3 beds 2 baths ∙ 1,589 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,589 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $0.92
    •  
  • 3535 E Edgewood Avenue Mesa, AZ 1
    • 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 1979
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.95
    •  
  • 2434 E Carol Avenue Mesa, AZ 3
    • 4 beds 2 baths ∙ 1,620 Sqft ∙ Built 1985 4 beds 2 baths ∙ 1,620 Sqft ∙ Built 1985
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.92
    •  
  • 3446 E El Moro Avenue Mesa, AZ 4
    • 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 1980
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $1.02
    •  
  • 3117 E Enid Avenue Mesa, AZ 5
    • 3 beds 2 baths ∙ 1,738 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,738 Sqft ∙ Built 1982
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.04
    •  
PROPERTY LISTING DETAILS
Jennifer Mirigliani
Exp Realty
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6156346
Last Updated: 12/04/2020
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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