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3831 E Flossmoor Avenue Mesa, AZ 85206

3 Beds 3 Baths 2,672 sqft Built 1994

$529,900

List Price

$2,080

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 1994
  • Price/Sqft : $198.32
  • 3 Days on Market
  • MLS # : 6141222
  • Updated Date : 11/01/2020 at 14:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,672 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homesmart

Listing Agent's Description

Adorable home with a lush backyard w/fruit trees (orange, lemon, fig, tangerine & peach) * Highly sought neighborhood * RV gate w/approx 50' pad (30 amp circuit) * 3 car garage * Large backyard w/gazebo w/fans & electric * Awnings & sunscreens * Direct TV cable throughout * Gigabit ethernet cable throughout * Security system * Video surveilance ready * Internet controlled heating & cooling systems * Ethernet cloud monitored landscape watering system * 2 gas furnaces & 2 ACs * 2 gas water heaters * Hot water comfort boosting system * Water softener & RO * Garage door openers WiFi enabled * Gas fireplace * Intercom * Central vac * Bosch duel fuel (gas top & electric oven) * Bosch dishwasher * Quartz countertops * Oversized granite kitchen sink * Don't miss out on this opportunity!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: East Mesa

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $109k271k

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

Neighborhood: East Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10181805

* 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
 

$476,910$582,890$529,900

PURCHASE PRICE

$1,872$2,288$2,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,080
EXPENSES Loan Payment -$1,955
Property Tax -$275
Property Insurance -$79
Property Management Fees -$99
CASH FLOW
-$328

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.

$529,900

PROJECTED PRICE

$2,080

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 6.5%
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-$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$146,174

INVESTMENT

$146,174

Down Payment
$132,475
Rehab Estimate
$5,750
Closing Costs
$7,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,955

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $132,475
Loan Amount $397,425
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$13,438

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,080

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $2,342

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,945
1$1,9452$2,0803$2,3504$2,400
$2,400
RENT COMPS ANALYSIS
  • 3831 E Flossmoor Avenue Mesa, AZ 2
    • 3 beds 3 baths ∙ 2,672 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,672 Sqft ∙ Built 1994
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,080
    • $0.78
    •  
  • 3419 E Terrace Avenue Gilbert, AZ 1
    • 4 beds 3 baths ∙ 2,623 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,623 Sqft ∙ Built 2008
    property image
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $0.74
    •  
  • 1256 N Banning Street Gilbert, AZ 3
    • 4 beds 2 baths ∙ 2,454 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,454 Sqft ∙ Built 1997
    property image
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.96
    •  
  • 3150 E San Angelo Avenue Gilbert, AZ 4
    • 4 beds 3 baths ∙ 2,592 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,592 Sqft ∙ Built 2003
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.93
    •  
PROPERTY LISTING DETAILS
Ali Goyette
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6141222
Last Updated: 11/01/2020
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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