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3908 E Elmwood Street Mesa, AZ 85205

5 Beds 4 Baths 3,915 sqft Built 2013

$699,900

List Price

$3,120

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

December 02, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $178.77
  • 5 Days on Market
  • MLS # : 6166649
  • Updated Date : 12/03/2020 at 17:05
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,915 sqft
  • Baths : 3 full , 1 half
Listing Agent

Realty Executives

Listing Agent's Description

Prepare to be amazed by this phenomenal 5 bed, 3.5 bath Mesa property! Stunning facade, lush landscaping, FIVE car garage w/ built-ins & RV gate & parking, this home has it all & more! Inside you will find elegant dining & living areas, den perfect for an office, spacious loft & custom upgrades throughout. The luxurious kitchen is comprised of staggered cabinetry w/ crown molding, new quartz countertops & backsplash, walk-in pantry, high-end appliances including a wall oven & huge island w/ breakfast bar. The grandiose master bedroom boasts a spacious walk-in closet & full bath with double sinks and separate tub & shower. Step outside into the beautiful backyard w/ lush green grass, 5 citrus trees, & covered patio where you can spend a relaxing evening. See this gorgeous home for yourself!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: The Groves

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $109k318k

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

Neighborhood: The Groves

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210501100115012001250130013501400145015001550160016501700Rent in $10181740

* 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
 

$629,910$769,890$699,900

PURCHASE PRICE

$2,808$3,432$3,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,120
EXPENSES Loan Payment -$2,582
Property Tax -$477
Property Insurance -$103
HOA -$175
Property Management Fees -$99
CASH FLOW
-$316

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.

$699,900

PROJECTED PRICE

$3,120

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 5.0%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$191,224

INVESTMENT

$191,224

Down Payment
$174,975
Rehab Estimate
$5,750
Closing Costs
$10,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,582

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $174,975
Loan Amount $524,925
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$22,439

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
  • $3,670

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,3953$3,5004$3,6755$4,300
$4,300
RENT COMPS ANALYSIS
  • 3908 E Elmwood Street Mesa, AZ 1
    • 5 beds 4 baths ∙ 3,915 Sqft ∙ Built 2013 5 beds 4 baths ∙ 3,915 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3843 E Laurel Street Mesa, AZ 2
    • 5 beds 4 baths ∙ 4,100 Sqft ∙ Built 1994 5 beds 4 baths ∙ 4,100 Sqft ∙ Built 1994
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,395
    • $0.83
    •  
  • 4122 E Mclellan Road #20 Mesa, AZ 3
    • 4 beds 4 baths ∙ 3,882 Sqft ∙ Built 1998 4 beds 4 baths ∙ 3,882 Sqft ∙ Built 1998
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $0.90
    •  
  • 2939 E Huber Street Mesa, AZ 4
    • 5 beds 4 baths ∙ 3,791 Sqft ∙ Built 2001 5 beds 4 baths ∙ 3,791 Sqft ∙ Built 2001
    LEASED 06/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,675
    • $0.97
    •  
  • 4259 E Mclellan Circle Mesa, AZ 5
    • 4 beds 3 baths ∙ 4,114 Sqft ∙ Built 2003 4 beds 3 baths ∙ 4,114 Sqft ∙ Built 2003
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,300
    • $1.05
    •  
PROPERTY LISTING DETAILS
Douglas Hopkins
Realty Executives
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6166649
Last Updated: 12/03/2020
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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