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3029 N Sonoran Hills -- Mesa, AZ 85207

4 Beds 3 Baths 2,475 sqft Built 2005

$490,000

List Price

$2,160

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $197.98
  • 2 Days on Market
  • MLS # : 6205329
  • Updated Date : 03/20/2021 at 16:52
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,475 sqft
  • Baths : 3 full
Listing Agent

North & Co

Listing Agent's Description

Nestled in Las Sendas gated community, this home has it all!! Boasting a desert landscaping, 3 car garage plus slab driveway, and an adorable courtyard entry. You will love the luminous interior featuring warm & inviting living spaces perfect for everyday living and entertaining. The fabulous kitchen is equipped with plenty of cabinets and high-end appliances great for your daily meal. Awesome master retreat has sliding doors that opens to a private balcony and a full bath for an added comfort. Outside, enjoy your backyard with sparkling blue pool and covered patio. Make time to view this home today because it is guaranteed to go fast!!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Las Sendas

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $109k477k

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

Neighborhood: Las Sendas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100220023002400Rent in $10342434

* 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
Fremont Junior High School Middle Regular 976 48 7
Red Mountain High School High Regular 3,347 145 7

Fremont Junior High School

  • Education Level: Middle
  • # of students: 976
  • # of teachers: 48
7
GreatSchools Rating

Red Mountain High School

  • Education Level: High
  • # of students: 3,347
  • # of teachers: 145
7
GreatSchools Rating
 

$441,000$539,000$490,000

PURCHASE PRICE

$1,944$2,376$2,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,160
EXPENSES Loan Payment -$1,702
Property Tax -$254
Property Insurance -$75
HOA -$41
Property Management Fees -$99
CASH FLOW
-$11

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.

$490,000

PROJECTED PRICE

$2,160

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 2.0%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$135,600

INVESTMENT

$135,600

Down Payment
$122,500
Rehab Estimate
$5,750
Closing Costs
$7,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,702

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $122,500
Loan Amount $367,500
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$27,123

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
  • $2,345

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,0003$2,1504$2,3005$2,500
$2,500
RENT COMPS ANALYSIS
  • 3029 N Sonoran Hills -- Mesa, AZ 1
    • 4 beds 3 baths ∙ 2,475 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,475 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3055 N Red Mountain #138 Mesa, AZ 2
    • 3 beds 3 baths ∙ 2,150 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,150 Sqft ∙ Built 1996
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.93
    •  
  • 2944 N Athena -- Mesa, AZ 3
    • 4 beds 3 baths ∙ 2,539 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,539 Sqft ∙ Built 2018
    LEASED 01/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.85
    •  
  • 3060 N Ridgecrest Drive #204 Mesa, AZ 4
    • 4 beds 2 baths ∙ 2,226 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,226 Sqft ∙ Built 1997
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.03
    •  
  • 3555 N Reynolds Circle Mesa, AZ 5
    • 5 beds 3 baths ∙ 2,557 Sqft ∙ Built 1994 5 beds 3 baths ∙ 2,557 Sqft ∙ Built 1994
    LEASED 03/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.98
    •  
PROPERTY LISTING DETAILS
Jason Hall
North & Co
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6205329
Last Updated: 03/20/2021
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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