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4843 S Carmine -- Mesa, AZ 85212

4 Beds 2 Baths 1,638 sqft Built 2008

$350,000

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $213.68
  • 4 Days on Market
  • MLS # : 6196777
  • Updated Date : 02/27/2021 at 00:24
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,638 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

Welcome to your beautiful freshly painted, professionally cleaned 4 bedroom two bathroom home in the popular mountain Horizons subdivision! All the floors are tiled with the exception of the bedrooms that have just had upgraded padding and brand new carpets installed. The spacious kitchen includes stainless steel appliances and a gas stove. You will certainly enjoy spending time outside beneath the covered patio, looking out to the grassy backyard with the water feature, and grilling on the fabulous built in gas bar-b-q!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: East Mesa

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k328k

* 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
Jack Barnes Elementary School Primary Regular 489 23 10
Queen Creek Middle School Middle Regular 787 33 6
Queen Creek High School High Regular 1,799 73 5

Jack Barnes Elementary School

  • Education Level: Primary
  • # of students: 489
  • # of teachers: 23
10
GreatSchools Rating

Queen Creek Middle School

  • Education Level: Middle
  • # of students: 787
  • # of teachers: 33
6
GreatSchools Rating

Queen Creek High School

  • Education Level: High
  • # of students: 1,799
  • # of teachers: 73
5
GreatSchools Rating
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$1,216
Property Tax -$256
Property Insurance -$59
HOA -$75
Property Management Fees -$99
CASH FLOW
-$165

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.

$350,000

PROJECTED PRICE

$1,540

PROJECTED RENT

0.44%

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$8,405

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,519

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,540
1$1,5402$1,6003$1,6254$1,7755$1,799
$1,799
RENT COMPS ANALYSIS
  • 4843 S Carmine -- Mesa, AZ 1
    • 4 beds 2 baths ∙ 1,638 Sqft ∙ Built 2008 4 beds 2 baths ∙ 1,638 Sqft ∙ Built 2008
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.94
    •  
  • 11251 E Quarry Avenue Mesa, AZ 2
    • 4 beds 2 baths ∙ 1,756 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,756 Sqft ∙ Built 2002
    property image
    LEASED 09/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.91
    •  
  • 11146 E Sombra Avenue Mesa, AZ 3
    • 4 beds 2 baths ∙ 1,769 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,769 Sqft ∙ Built 2007
    property image
    LEASED 08/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.92
    •  
  • 11060 E Stearn Avenue Mesa, AZ 4
    • 3 beds 3 baths ∙ 1,901 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,901 Sqft ∙ Built 2008
    property image
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.93
    •  
  • 11148 E Sonrisa Avenue Mesa, AZ 5
    • 3 beds 3 baths ∙ 1,901 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,901 Sqft ∙ Built 2006
    property image
    LEASED 10/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,799
    • $0.95
    •  
PROPERTY LISTING DETAILS
Janice K Delong
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6196777
Last Updated: 02/27/2021
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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